The older population in the United States has steadily increased in recent decades and is expected to continue to grow in the coming decades. In fact, experts predict that by the year 2050, the older population in the U. S. will surpass the younger population. The historic number of older Americans has dramatically increased the need for caregivers, often turning family members into unpaid part or full-time caregivers. In honor of National Family Caregivers Month this November, the Essex … [Read more...] about Vermont Caregiver Resources
While every adult can benefit from having an estate plan in place, there are certain circumstances that make estate planning even more important. Becoming a parent, for example, increases the need for an estate plan while being a single parent should make estate planning a top priority for you. The Essex Junction attorneys at Unsworth LaPlante, PLLC discuss estate planning for the single parent and offer suggestions for what should be in your single parent estate plan. The Importance of … [Read more...] about Estate Planning for the Single Parent
As year-end approaches, many individuals look for ways to lower their income tax burden. Charitable contributions allow individuals to offset a portion of their income, but not all charitable contributions are created equally, and each has certain requirements to obtain the charitable deduction. Certain charitable-giving vehicles allow a donor to get more bang for their buck. Read on to learn more. … [Read more...] about It’s a Great Time to Consider a Donor Advised Fund
The primary focus for most people when they contemplate estate planning is the distribution of their assets when they pass away. You, however, may have a somewhat contrary concern. You may be worried about how your debts will be handled. Specifically, you may be concerned that your adult children will inherit your debts instead of your assets. To help you plan accordingly, the Essex Junction attorneys at Unsworth LaPlante, PLLC explain what happens to your debts when you pass away. What Legal … [Read more...] about What Happens to My Debts When I Pass Away?
Whether by choice or by circumstance, you may be among the growing number of adults and even couples who do not have children. If so, you may assume that estate planning is less important for you than it is for people who are parents; however, that assumption would be incorrect. People often make that assumption because they hear people discussing estate planning concepts that are focused on protecting or providing for children. What you may not have heard are the numerous reasons why estate … [Read more...] about Estate Planning Tips for Adults Without Children
Most Americans qualify for Medicare coverage when they reach retirement age and many of them rely on Medicare to cover healthcare expenses. If you are one of them, it is crucial to understand what Medicare covers and, more importantly, what Medicare will not cover. To help get you started, the Essex Junction attorneys at Unsworth LaPlante, PLLC explain why Medicare may not be enough and how a Medicaid planning component in your estate plan can help. What Is Medicare? Medicare is a … [Read more...] about Why Medicare May Not Be Enough
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
If you are contemplating the addition of a trust to your estate plan, there are some common mistakes you want to avoid making, such as failing to name a successor Trustee. For those who are not familiar with how a trust is administered, the Essex Junction trust attorneys at Unsworth LaPlante, PLLC explain why you should name a successor Trustee when you create a trust. Trust Basics First, it is important to have a firm understanding of what a trust is and how a trust works. A trust is a … [Read more...] about Do I Need to Name a Successor Trustee When I Create a Trust?
When determining whether an individual qualifies for Medicaid, states impose both functional and financial tests. Functional means that the applicant must demonstrate medical need. Financial means that such an individual must demonstrate financial need. With proper planning though, it’s possible to meet the financial need prong even if assets exceed the threshold amount set by the state. Read on to learn more. … [Read more...] about Medicaid Planning
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