Unless you are exposed to estate planning concepts and strategies on a regular basis they can be intimidating and frightening. Frequently this causes people to shy away from creating an estate plan despite understanding how important it is to have one in place. To help you create a successful estate plan, the Essex Junction estate planning attorneys at Unsworth LaPlante, PLLC offer 10 estate planning tips. Ignore myths and misconceptions. One of the most important tips is simple – do not … [Read more...] about 10 Estate Planning Tips to Help Your Plan Succeed
When Bruce Willis announced his retirement from acting because of aphasia, it sent shockwaves through Hollywood and across the country. Just a few weeks ago, Bruce’s family indicated that the disease had progressed to frontotemporal dementia highlighting the importance of incapacity planning. While Estate Planning typically focuses on planning for what happens at death, a comprehensive Estate Plan includes provisions regarding what happens during life should an individual become incapacitated. … [Read more...] about What Bruce Willis Can Teach Us About Incapacity Planning
An inheritance can come in many forms. One of the assets that is frequently passed down to loved ones is an IRA or 401(k) account. If you recently inherited one of these accounts, you need to understand the rules and the tax consequences that go along with your inheritance. Toward that end, the Essex Junction estate planning attorneys at Unsworth LaPlante, PLLC explain what you need to know about an inherited IRA or 401(k). Estate Tax Basics When an individual passes away, his/her estate … [Read more...] about What You Need to Know about an Inherited IRA or 401(k)
The older adult population in the United States has increased dramatically in recent years and is expected to continue to increase in the years to come. Sadly, that increase has led to a corresponding increase in elder abuse. Elder abuse occurs in several forms, including physical abuse, emotional abuse, and financial abuse. If you are the caretaker of an older person, it is imperative that you take steps to prevent elder financial abuse. Toward that end, the Essex Junction elder law attorneys … [Read more...] about Protecting Elderly Loved Ones from Financial Abuse
One of the most popular, and important, components of a comprehensive estate plan is Medicaid planning. You may have made it through several decades without ever needing to qualify for Medicaid; however, that could change rapidly once you reach your retirement years if you need long-term care. You may have also heard several disconcerting things about Medicaid eligibility, most of which likely revolve around the loss of assets because of the need to qualify for Medicaid. If you have a 401(k) … [Read more...] about Does My 401(k) Account Count for Medicaid Eligibility?
As much as we prefer not to think about it, the reality is that the longer we live, the greater the odds are that we will need some type of care. The idea of ending up in a nursing home facility probably does not sit well with you. The good news is that there are numerous options for senior care that might help you avoid, or at least put-off, the need for nursing home care. Toward that end, the Essex Junction elder law attorneys at Unsworth LaPlante, PLLC explain various senior care options that … [Read more...] about Senior Care Options
One of the primary reasons for creating an estate plan is to avoid dying intestate (meaning without a Will or trust in place to distribute estate assets). What happens though, if a loved one who is on the verge of death makes a last-minute oral Will? Is that Will valid? The Essex Junction estate planning attorneys at Unsworth LaPlante, PLLC discuss the validity of an oral Will in Vermont. What Are the Basic Requirements for a Valid Will in Vermont? For any Will to be valid in Vermont, the … [Read more...] about Is an Oral Will Valid in Vermont?
As part of the Estate Planning process, an attorney explores numerous topics with the client to help create a unique plan tailored to the client’s circumstances. Many estate plans use a trust as the centerpiece of the plan. Some clients want to explore asset protection and let the attorney know they want to consider offshore planning. Sometimes, offshore planning works, but often it causes additional issues. Read on to learn more. … [Read more...] about The Intersection of Asset Protection Planning and Estate Planning – Part II
As part of the Estate Planning process, an attorney explores numerous topics with the client to help create a unique plan tailored to the client’s circumstances. Many estate plans use a trust as the centerpiece of the plan. Inevitably, clients want to understand the degree, if any, of asset protection that will result from the creation of a trust. There are numerous ways to achieve asset protection planning for a client. Read on to learn more. … [Read more...] about The Intersection of Asset Protection Planning and Estate Planning – Part I
There is a significant chance you will need to qualify for Medicaid during your retirement years to cover the high cost of long-term care. If so, the Medicaid eligibility guidelines could prevent you from qualifying if you did not plan accordingly. To help make sure you are eligible if you need to qualify, the Essex Junction Medicaid planning attorneys at Unsworth LaPlante, PLLC explain the Vermont Medicaid eligibility guidelines for seniors. Why Would I Need Medicaid When I Am a … [Read more...] about Vermont Medicaid Eligibility for Seniors