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...]
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...]
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...]
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...]
Top Five Estate Planning Tips
If you find yourself reading this blog post, you must be looking for some information about estate planning. You are definitely in the right place, because we have literally hundreds of posts that you can check out to build on your knowledge. There are also additional resources available on this website.But for now, you would do well to stay right here. In this piece, we are going to provide five estate planning tips that will make you aware of some facets of the process that can fly under … [Read more...]
Incapacity Planning Is a Must
When you think about the matter of estate planning, arranging for postmortem asset transfers will probably come to mind. Without question, you have to execute a will or some type of trust to state your final wishes. The ideal course of action will depend upon the circumstances, and there are many possibilities. This is one of the most important financial decisions you will ever make, so you should certainly discuss your options with a licensed estate planning attorney. End-of-Life … [Read more...]
Address These Two Elder Law Issues
As the name would imply, elder law attorneys assist clients that are concerned about the issues that are typically faced by senior citizens. There are some things that you should understand if you want to be comprehensively prepared for the future.One of the elder law issues that is very pressing during our current era is the matter of long-term care. Medicare does not pay for living assistance, and the majority of senior citizens will need help with their day-to-day needs before all is said … [Read more...]
Incapacity Planning in Vermont
Incapacity Planning in Vermont from Stephen UnsworthThe road to being declared incapacitated can be slow due to a physical or mental change.Learn more about Incapacity Planning in this presentation. … [Read more...]
Filing for Guardianship
One of the most difficult truths is realizing that our parents will grow older and possibly develop Alzheimer’s, dementia or any other number of disabilities that renders them unable to make decisions for themselves and their finances. When that happens, a family will typically come together to determine what’s best. Guardianships are usually the preferred protections. Incapacity Planning and Guardianship Incapacity planning is a particular area of Vermont law designed to protect those who are … [Read more...]
NAELA Issues Long Term Care Concerns
A new report, released last week, reveals some of the bigger problems facing America's growing need for long-term services and supports. Unfortunately, there were a few glaring unresolved problems that have already begun to affect America’s elderly. The problems are far easier to identify than the solutions. Many Long Term Care Concerns One of the first challenges facing the Long Term Care Commission was that Congress only provided a 90 day window to conduct hearings, investigations and then … [Read more...]
