Our Estate Planning Blog
Whether you need a living will vs. living trust as part of your estate plan depends on your overall financial situation and goals. However, it’s helpful to consider the advantages of including one or both in your planning efforts.
My 91-year-old mother-in-law died on Dec. 13, 2020. There was no will, so we are currently working our way through the probate process. Her income was less than $20,000 a year from Social Security and we can’t find any tax returns she filed. Was she required to file?
Many baby boomers may hesitate to discuss money with their children, but the reality is that a massive amount of wealth will be transferred in the next couple of decades.
The couple needs to create an appropriate estate plan. If they truly want inheritance rights, they need to execute testamentary documents, such as wills.
The difference between power of attorney and guardianship is a common question asked by adult children. Both roles share a duty to provide care and oversight of medical care and health.
Medicare is designed to help pay for healthcare costs for seniors once they turn 65. While it covers a number of healthcare expenses, it doesn’t apply to costs associated with long-term care in a nursing home.
Now that there is a Democratic majority in the Senate and the House of Representatives, estate and gift tax law changes are expected to occur in 2021 or 2022.
What should be done when managing credit cards and airline mile points for a deceased person?
Gifting stock to family members may lack the pizzazz of leaving a luxury car adorned with a bow in the driveway, but it’s a gift that can add value to their lives long after most other gifts have been forgotten.
When an individual cannot make important decisions for himself or herself, a judge appoints someone called the conservator or guardian to make decisions. The conservator has the legal backing of the court in all decisions, including finances, medical and personal care.
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