When you think about the method used to distribute your estate assets you likely think of a Last Will and Testament. Many people do use a Will as the foundation of their estate plan and as their primary distribution document; however, there is another common option – a trust agreement. If you create a trust and a Pour Over Will, all your estate assets should ultimately be distributed using the trust agreement. The Essex Junction estate planning attorneys at Unsworth LaPlante, PLLC explain why … [Read more...] about Should I Use a Living Trust to Distribute My Estate?
A successful estate plan typically includes numerous inter-related components that work together to achieve all your estate planning goals. For many people, one of those components is Medicaid planning. If you have never relied on Medicaid to help cover your healthcare expenses, you may be wondering why you would need Medicaid when you are older. To make sure you are prepared for your retirement years, the Essex Junction Medicaid planning attorneys at Unsworth LaPlante, PLLC explain why you … [Read more...] about Why Do I Need to Include Medicaid Planning in My Estate Plan?
You have likely spent a considerable amount of time deciding who you wish to provide for in your estate plan. Are you certain, however, that you are including everyone in your family? If you have a beloved family pet, is your pet already part of your estate plan? If not, the Essex Junction pet planning attorney at Unsworth LaPlante, PLLC explain how to protect your pet in your estate plan. Americans and Their Pets Even compared to other similar countries, Americans view animals … [Read more...] about How to Protect Your Pet in Your Estate Plan
If you already have an estate plan in place, or you are planning to create one soon, a primary motive for that plan is likely to protect and provide for loved ones after you are gone. To accomplish that goal, however, you must protect the assets you have while you are here. To ensure that you assets are safe, you must first recognize how your assets may be at risk. To get you started, the Essex Junction asset protection planning attorneys at Unsworth LaPlante, PLLC explain six ways in which your … [Read more...] about 6 Ways in Which Your Assets Might Be at Risk
When your family is young, comprehensive estate planning is crucial to protect what you are building. Your estate plan should be uniquely tailored to what you and your family need; however, there are some estate planning tools commonly used by young families. A trust is one of those tools. An Essex Junction estate planning attorney at Unsworth LaPlante, PLLC explains why you might need a trust to protect your young family. You Need More Than Just a Last Will and Testament Your Last Will … [Read more...] about Why You Need a Trust to Protect Your Young Family
One of the most common estate planning mistakes is to put off creating a plan. If you are just starting your family, you may be at risk of making this mistake either because you do not understand the need for a plan or because you are busy with your new family and fail to make estate planning a priority. When your family is young, however, is exactly when having an estate plan in place can be the most important. To help you get started with your estate plan, the Essex Junction estate planning … [Read more...] about Estate Planning Basics for Young Families
As you age, the odds of needing long-term care (LTC) increase dramatically and the cost of that care is high. Because most health insurance plans do not cover LTC, you may assume that turning to Medicaid or Medicare is an option. Although there are some similarities, Medicaid and Medicare are very distinct programs with different eligibility criteria and available benefits for those who qualify. Understanding the difference between the two programs is essential. Toward that end, an Essex … [Read more...] about Understanding the Difference between Medicaid and Medicare
Creating even a basic estate plan requires you to make several important decisions. While many of those decisions will be directly related to the disposition of your estate assets after you are gone, one of the most important decisions is your choice of Executor. The Essex Junction estate planning attorneys at Unsworth LaPlante, PLLC explain what your Executor does and offers some questions to consider when choosing your Executor. What Does an Executor Do? The law typically requires … [Read more...] about Questions to Consider When Choosing Your Executor
One of the most used estate planning tools is a Power of Attorney, or POA. Most people, at some point in their life, either create a POA or act as an Agent under a POA created by someone else. That also means that the power granted in a Power of Attorney is frequently abused. This often happens because the person creating the POA does not truly understand the power and authority conveyed in the document. With that in mind, the Essex Junction estate planning attorneys at Unsworth LaPlante, PLLC … [Read more...] about What You Need to Know before You Execute a Power of Attorney
Like most people, you likely focus on what will happen after your death when you think about estate planning. While your estate plan certainly should plan for your eventual death, your plan should also contemplate the very real possibility of your own incapacity. Incapacity planning should be included in every adult’s estate plan. With that in mind, an Essex Junction incapacity planning attorney at Unsworth LaPlante, PLLC discusses using a living trust to plan for the possibility of … [Read more...] about Using a Living Trust to Plan for the Possibility of Incapacity