You should consider the finer details when you are engaged in the process of estate planning, but unfortunately, some of them are often overlooked. In this post, we will look a little bit beneath the surface to provide some insight. Life Insurance Life insurance is going to be a part of most estate plans. It can serve as a safety net that will provide income replacement for your loved ones if you were to pass away before your time. It is important to evaluate your family’s financial … [Read more...] about Estate Planning: Attend to the Details
incapacity planning
Kobe Crash Shows Importance of Planning
On January 26th, shocking news came out of Calabasas, California. Basketball great Kobe Bryant, who was just 41 years of age, died in a helicopter crash along with his 13-year-old daughter Gianna. Seven other people passed away along with them, and they were all minors or relatively young adults. There is nothing that can be stated about this tragedy that has not already been acknowledged in a general sense. However, from an estate planning perspective, it points out the importance of … [Read more...] about Kobe Crash Shows Importance of Planning
DIY Wills: Proceed at Your Own Risk
People can sometimes become cynical and question why they need the assistance of experts. You can just go online and learn how to do anything you need to do for yourself, right? This is the information age, so we are no longer at the mercy of those who have gained professional expertise. The above may be true when it comes to something like making simple household improvements. However, there are many things that you should not try to do for yourself, and estate planning is one of them. As … [Read more...] about DIY Wills: Proceed at Your Own Risk
Fraud Case Has Elder Law/Estate Planning Implications
Sometimes a glaring real life example can get your attention more than any advice that you can be given by a professional. This can enter into the realm of estate planning and elder law from time to time, and there has been a news story circulating recently that fits the bill. In August of 2018, a successful business person from Tampa, Florida named Richard Rappaport got married to Lin Helena Halfon. On the surface, there is nothing to see here, but it gets more interesting when you learn … [Read more...] about Fraud Case Has Elder Law/Estate Planning Implications
Connect With the Vermont Chapter of the Alzheimer’s Association
Our law firm is devoted to estate planning and elder law matters, and we have an office in Essex Junction, Vermont. It is truly a fantastic place to call home, and the area provides residents with the best of all possible worlds. Perhaps the best thing about the city is the fact that it is a close-knit community, and locals genuinely care about one another. There are resources that people can tap into when they need assistance with all different types of challenges, and one of them applies to … [Read more...] about Connect With the Vermont Chapter of the Alzheimer’s Association
Face Elder Financial Abuse Head On
One of the most pressing elder law issues at the current time is that of elder financial abuse. It can be hard to imagine a time when you would be able to keep tabs on your affairs and detect threats, but things can change when you get older. Clearly, this is not a very pleasant subject to contemplate, but it is wise to meet it head on so that you can take the right steps to protect yourself. Even if you are always safe and sound on this level, there is nothing lost if you put the necessary … [Read more...] about Face Elder Financial Abuse Head On
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...] about Assert Your Choices to Prevent a Guardianship
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...] about Your Estate Plan Should Be Custom Crafted
Census Report: Burlington Senior Population Exceeds National Average
As elder law attorneys, we are very significantly impacted by an emerging demographic phenomenon. During the years after World War II, there were an inordinate number of babies born in the United States. These are the baby boomers, and over recent years, they have started to reach their senior years. Because of this, there is a rapidly aging of the population underway. Across the country, seniors comprise about 14 percent of the population. Here in the Burlington area, it is 16.4 percent … [Read more...] about Census Report: Burlington Senior Population Exceeds National Average
How Is a Power of Attorney Used in Estate Planning?
Most people are aware of the fact that a power of attorney is a legal device that can be used to allow someone else to act for you in a legally binding manner. The person that gives the power is called the grantor or principal, and the term for the proxy is “attorney-in-fact” or agent. There are general powers of attorney, and limited powers of attorney. If you execute a general power of attorney, the agent or attorney-in-fact would have sweeping powers to act as your representative. In a … [Read more...] about How Is a Power of Attorney Used in Estate Planning?
