The process of estate planning should ideally be viewed from a comprehensive perspective. There are eventualities that you may face before you pass away, and this is something that you should take into consideration, because there are actions that you can take to prepare yourself. This is certainly not a very pleasant thing to contemplate, but the cold hard reality is that many people become incapacitated and unable to communicate before they pass away. During this interim, there can be … [Read more...] about Advance Directives Should Be Part of the Plan
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Remarriage and Inheritance Planning: Protect Your Children
The fact that a significant percentage of marriages end in divorce is well-known at this point, and studies show that the majority of second and third marriages end in divorce. From an estate planning perspective, there can be some challenges for divorced people who are getting remarried. First of all, if you are getting remarried after you have been divorced, you may want to consider the creation of a premarital agreement. Even though you are getting married because you are in love, the … [Read more...] about Remarriage and Inheritance Planning: Protect Your Children
Have You Contemplated Your Legacy?
You can look at estate planning in a number of different ways. There is the bare-bones approach when you simply try to protect your family in the easiest way possible, and a basic estate plan is certainly better than no estate plan at all. On the other hand, you could take a more comprehensive approach and engage in the process of legacy planning. When you plan your legacy, you proactively take steps to leave behind a positive influence that will resonate even after you are gone. Legacy … [Read more...] about Have You Contemplated Your Legacy?
Is My Power of Attorney Still Valid After I Pass Away?
The legal device that is called a power of attorney is often used within the elder law realm. However, a certain type of power of attorney is utilized to account for possible incapacitation late in life. Many elders become unable to make sound decisions on their own at some point in time. There are numerous different underlying causes of incapacity, but one extraordinary threat is Alzheimer's disease. This disease strikes almost half of people who are at least 85 years of age. This type of … [Read more...] about Is My Power of Attorney Still Valid After I Pass Away?
Don’t Disinherit a Child With Special Needs
There are various different circumstances that can exist within a family. For example, there may be a child that you love who has special needs. The desire to provide for the child within your estate plan may be there, but you may be concerned about eligibility for Medi-Cal coverage. Before we proceed, let's provide some background information about Medi-Cal for those who may not know the facts. The Medicaid program is in place to provide a health care insurance safety net for people of all … [Read more...] about Don’t Disinherit a Child With Special Needs
Comprehensive Planning for the Eventualities of Aging
Legal professionals often dedicate themselves to particular areas of focus. One of these specialties is the elder law arena. These attorneys help people who are concerned about the eventualities of aging. At the present time, there is an unprecedented aging of the population underway. This is due to the maturation of the baby boomer generation. As a result, many people have questions about the contingencies that they may face during their senior years. Elder law attorneys provide guidance and … [Read more...] about Comprehensive Planning for the Eventualities of Aging
What Questions Should I Ask an Estate Planning Attorney?
When you become an adult in your own right, you have a certain set of basic responsibilities. There are probably family members who depend on you, and you if you are like most people, you take your responsibilities to heart. You should definitely carry this perspective over to the realm of estate planning. Unfortunately, many otherwise responsible people are unprepared for an event that is definitely going to happen to all of us. When you devise your estate plan, you are not planning for your … [Read more...] about What Questions Should I Ask an Estate Planning Attorney?
Free Report: Long-Term Care and Medicaid Planning
Most elderly people will qualify for Medicare coverage as a source of health insurance when they reach the age of 65. This program will certainly be of assistance, but it does not cover everything in full, so you should prepare for out-of-pocket expenses. Medi-Cal is a program that does pay for custodial long-term care, but you cannot qualify if you have too many assets in your own name. Topics covered in this report include: Medi-Cal Eligibility Spending Down … [Read more...] about Free Report: Long-Term Care and Medicaid Planning
How Is a Revocable Living Trust Funded?
There is a legal device called a revocable living trust that is an extremely effective and versatile estate planning tool. Though some people believe that trusts are only for the rich, you could benefit from this type of trust even if you are not a multimillionaire If you establish a revocable living trust, you continue to control the actions of the trust, because you can act as the trustee and the beneficiary initially. You have the power to alter the terms of the trust, and as the name would … [Read more...] about How Is a Revocable Living Trust Funded?
Free Report: Can Northern California Probate Be Avoided
If you are thinking that the probate process does not sound very appealing, you are not alone. People often seek out avenues that facilitate asset transfers outside of probate when they hear about these drawbacks. It is possible to be proactive about the implementation of probate avoidance strategies. There are various different ways that you can get assets into the hands of your loved ones outside of probate. Topics covered in this report include: Avoiding Probate Click here to read … [Read more...] about Free Report: Can Northern California Probate Be Avoided
