Each of us will die eventually. This article looks at how planning can make our passing easier for our loved ones. Specifically, this article looks at how planning can maintain privacy for your loved ones.Many Reasons to Plan … [Read more...]
When Will My Heirs Receive Their Inheritances?
When you are planning your estate, you have options. There are various different ways that you can get inheritances into the hands of your loved ones after you pass away. It is possible to be proactive about the facilitation of timely asset transfers.If you were to use a last will as your primary asset transfer vehicle, you would name an executor when you create the document. This person would serve as the estate administrator.After your passing, the will would be admitted to probate. … [Read more...]
Why Crowdfunding May Cost You Medicaid Eligibility
Each year, crowdfunding websites raise money for causes. Did you know such a website could impact your eligibility to receive Medicaid? Read on to learn how crowdfunding can impact Medicaid eligibility.Why Crowdfunding May Cost You Medicaid Eligibility … [Read more...]
Assert Your Choices to Prevent a Guardianship
You may think about estate planning as the act of creating a document that will direct the transfer of your assets after you are gone. This is definitely a significant part of the equation, but a well-constructed plan will go a step further. It will also address eventualities that you may face toward the end of your life. Incapacity Is Common Until you have had an experience, it is nearly impossible to truly imagine what it would feel like, and this is understandable. This being stated, when … [Read more...]
Planning for Step-Children
If your spouse has biological children, you may consider them your own. But, if you haven’t adopted them, they have no inheritance rights. This article looks at how to plan for step-children.Planning for Step-Children … [Read more...]
A Look at Medicaid Community Spouse Provisions
Before we get to the specific focus of this pointed post, we have to provide some background information so you know why any of this should matter to you.If you have never been financially needy, and you will qualify for Medicare when you reach the age of 65, you may wonder why Medicaid is relevant to you in any way. After all, you will already have health insurance, and you wouldn’t qualify for the program anyway, because you are going to retire with a sufficient store of financial … [Read more...]
A Family Limited Partnership Can Protect Assets
They say that we live in a litigious society. There are always individuals out there that are poised to file lawsuits against people that they perceive as “deep pocket targets.” Clearly, asset protection is important to safeguard your own interests, and there are legacy planning implications as well. Family Limited Partnerships One legal structure that can be the ideal asset protection tool when certain circumstances exist is the family limited partnership (FLP). The best way to explain the … [Read more...]
Disinheritance
Each of us will die eventually. This article looks at how planning can make your passing easier for those whom you leave behind. Specifically, this article will look at how you can disinherit someone with the least disruption to the family.Disinheritance … [Read more...]
Your Estate Plan Should Be Custom Crafted
The ideal estate plan will include documents that are created as a response to the specific circumstances that exist. You have many different options, and you should act in a fully informed manner. An estate planning document that is appropriate for one person may not be necessary for the next.For example, high net worth individuals who are exposed to the federal estate tax would want to implement estate tax efficiency strategies. The tax comes into play if you are transferring more than the … [Read more...]
Your Planning Can Help Your Loved Ones
Each of us will die eventually. This article looks at how planning can make your passing easier for your loved ones. Specifically, this article will look at the importance of the manner in which assets are left for your loved ones.Your Planning Can Help Your Loved Ones … [Read more...]
