We have a federal estate tax in the United States, but most people do not have to contend with it, because there is a relatively high credit or exclusion. This is the amount can be transferred before the estate tax would be applied. Before the beginning of this year, it was somewhere in the vicinity of $5 million. This was the figure that was installed in 2011, and there were ongoing adjustments to account for inflation. When the new tax laws went into effect in 2018, the estate tax exclusion … [Read more...]
A Look at Special Needs Planning
It is important to understand the fact that there is no one-size-fits-all estate plan that is right for everyone. Your financial position, your family dynamic, and your objectives will be determining factors, and there are many possibilities. There is also the matter of the life situation of the people that you want to provide for in your estate plan. With this in mind, let’s take a look at the value of special needs planning. Government Benefits If you would like to leave an inheritance to … [Read more...]
How Burlington Estate Planning Lawyers Can Help You Protect Your Pets
Burlington estate planning lawyers at Unsworth LaPlante, PLLC will help you to make effective use of legal tools to protect your loved ones. For many clients, it is not just people who you want to protect and to provide for -- it is animals as well. Our legal team will work closely with you to make sure that your pets will be safe and secure even if something should happen to you. To find out more about how our firm can provide you with help planning ahead for your animal's future just in … [Read more...]
5 Things Burlington Medicaid Planning Attorneys Want You to Know
Burlington Medicaid planning attorneys at Unsworth LaPlante, PLLC can help you to prepare a plan to get covered by Medicaid if you need care. We help you to ensure that your life savings is not lost if you get sick and need to move to a nursing home or long term care at home. Unfortunately, far too many people do not realize how important Medicaid planning is to protecting their wealth as they get older. You don't want to make this mistake so you should reach out to Unsworth LaPlante, PLLC … [Read more...]
Why Your Heirs Would Prefer Living Trusts
Essex Junction living trust attorneys can provide you with help and support as you make plans to leave your legacy. While many people use a will to determine who will inherit and how assets will pass on to loved ones, your heirs or beneficiaries would likely prefer it if you would use a living trust. When you create a living trust and transfer assets into it, assets can transfer outside of the probate process. Unsworth LaPlante, PLLC can help you to determine what this would mean to your … [Read more...]
Burlington Estate Planning Attorneys Explain the Importance of Advanced Directives
Burlington estate planning attorneys at Unsworth LaPlante, PLLC assist you in identifying the steps that you need to take to prepare in case you get sick or become badly hurt. We can help you to be prepared for life's unexpected tragedies by making effective use of legal tools that protect your autonomy and that protect your loved ones. You never know when something unexpected could happen and you could end up in a situation where medical decisions about your care need to be made and you are … [Read more...]
Who Should You Put in Charge of Trust Administration?
One of the primary reasons for trust creation is the fact that when you have created a trust, the assets held within the trust can pass through the trust administration process. The trust administration process is more private, faster, easier, and less costly than the probate process, which Investopedia estimates can take around a year to complete and can cost up to three percent to seven percent of the value of the estate. The trust administration process should also be able to take place … [Read more...]
Medical Care is Expensive for Seniors, Even With Medicare
Burlington Medicaid planning attorneys can provide assistance making sure that covering the costs of medical care is possible during your senior years. Seniors become eligible to receive Medicare coverage at the age of 65 and many people mistakenly believe that once they become eligible for Medicare, they will not need to worry about healthcare costs any more. Unfortunately, this is not actually the case -- there are many types of essential care for seniors that Medicare pays nothing for at … [Read more...]
What Executors Must Know About the Probate Process
Burlington probate lawyers can provide representation to those who are going through probate after a death has occurred. Going through the probate process can be stressful and complicated after a death, particularly because it can be such a long process with Investopedia estimating probate lasts around a year. While all parties involved in probate may find the court proceedings and lengthy process to be burdensome, the person with the most responsibilities during the entirety of the probate … [Read more...]
How Can You Find Burlington Estate Planning Lawyers to Help You?
Burlington estate planning lawyers can provide you with invaluable assistance making plans for your future. There are many ways that attorneys can help you to protect your interests as you grow older and can help you to ensure you are able to provide for your loved ones after you are gone. However, you need to make certain you find a lawyer who will provide the service and support that you are looking for. Unsworth LaPlante, PLLC is here to help you. We will work closely with you to … [Read more...]
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