The field of elder law involves helping seniors become prepared for all the eventualities of aging, and of course, as you get older the need for health care generally becomes more pressing. We are all aware of the high cost of medical services, and most people gain some peace of mind from the understanding that they will be qualified for Medicare when they become senior citizens. The fact is that Medicare does not cover everything, so when you are planning for the future it is important to gain … [Read more...] about Medicare vs. Medi-Cal: Do You Know the Difference?
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Is Estate Planning Only for Seniors?
People are aware of the fact that they should have an estate plan in place, but many seem to feel as though "it is not time yet." Most would agree that there is never a very good time to die, and we all want to live long, fruitful, and robust lives. Indeed, lifespans are expanding all the time, and right now the average lifespan in the United States is 78.4 years. But the fact is that this does not mean that you can wait until you are about 75 years old before you start to take estate … [Read more...] about Is Estate Planning Only for Seniors?
An Estate Planning Attorney Can Do A Lot For You
There’s no shortage of things that an estate planning attorney can do for you. With the right legal team on your side, you’ll feel much better about the plan you have in place and the decisions that you’ll make in the future. Here are just a few of the many things that an estate planning attorney can do for you: If you’re unsure of what an estate planning attorney can do for you, take the time to consult with a local professional. This will give you a better understanding … [Read more...] about An Estate Planning Attorney Can Do A Lot For You
Important Questions Related to Incapacity Planning
Incapacity planning is challenging on many fronts, as you have to come face to face with the idea that you may one day not be able to make your own decisions. And remember this: incapacity can strike at any time. This holds true even if you’re young and healthy. If you’ve yet to consider the ins and outs of incapacity planning, now’s the time to do so. It’s a big addition to your estate plan, as it’ll give both you and your loved one's peace of mind. As you get started with … [Read more...] about Important Questions Related to Incapacity Planning
Tis the Season for Giving
Most taxpayers understand that to receive the benefit of charitable deductions, they need to itemize their income tax deductions. Creating a charitable giving strategy can be a great way for taxpayers to save on taxes while benefiting their community. Certain techniques can be used in conjunction with others to maximize the benefit of charitable giving. My friend and colleague Tereina Stidd, an estate planning expert, explains more about these strategies. Read on to learn more. … [Read more...] about Tis the Season for Giving
The Importance of Having an Estate Plan
We all know that we should create an Estate Plan, yet so many of us procrastinate in undertaking such an important task. Creating an Estate Plan represents a simple, yet effective way to provide comfort and stability to your family upon your death by ensuring that your assets pass in the way that you want to whom you want. Unfortunately, so many encounter a tragedy or crisis before prioritizing their Estate Plan, sometimes it is too late. As headlines often remind us, even those with significant … [Read more...] about The Importance of Having an Estate Plan
Tax Planning for 2023
Planning is important for your income taxation during life as well as for any estate tax at death. Even though 2023 is just starting, it’s not too early to think about planning for whatever it may bring your way. My friend and colleague Steve Hartnett, an estate planning expert, provides an update on the tax laws. Read on to learn more. … [Read more...] about Tax Planning for 2023
New Year Resolution: Review Your Estate Plan (part 2 of 2)
When considering creating or updating your estate plan in 2023, you will want to make sure that you consider all of your planning needs. This will ensure that you have a proper plan that will protect you during all of life’s unexpected events. The information below will explain more about your needs. In this second installment about estate planning considerations, we address additional issues often overlooked in many estate plans. If you have any questions about the information below, or if … [Read more...] about New Year Resolution: Review Your Estate Plan (part 2 of 2)
New Year Resolution: Review Your Estate Plan (part 1 of 2)
With the New Year upon, consider as one of your resolutions creating or updating your estate plan. What is often not appreciated are the number of issues that should be considered and addressed in one's estate plan. It’s important to take time to handle these issues so that you’re protected throughout your lifetime as well as after you die. Many people don’t take the time to fully think about their individual estate planning needs. Take a look at the information below to better understand … [Read more...] about New Year Resolution: Review Your Estate Plan (part 1 of 2)
4 Questions About California Pet Trusts
What is a pet trust and how does it work? A pet trust lets pet owners provide a way to care for their pets after the owner dies. Pet trusts, like other trusts, are created when the pet owner transfers property to the trust to own. The pet owner must also select someone to run the trust, called a trustee, and decide how the funds should be used. Who cares for my pet? That is up to you. Many people direct that the trustee is there to pay for the pet's expenses while not actually providing … [Read more...] about 4 Questions About California Pet Trusts
