Category Archives: Estate Planning
Legal Tune Up
One claim of a good lawyer is they don’t let their clients end up in court. With proper planning that claim is often true. Let me remind you of a few legal housekeeping tips, that if ignored, might lead to bigger problems only solved by a trip to the courthouse. Does your estate plan avoid […]
Also posted in Beneficiary Designations
Pets as Property
Did you know that pets are legally classified as property? This is hard to imagine when we consider them companions, best friends and family. But as property there are legally enforceable documents that can help secure a pet’s future. This is worth consideration, as informal vows and promises made by friends and family to care for your […]
Tagged Pet Trusts
Planning for Social Security
One of the great mysteries of our 60’s is when to claim your social security benefit. The dilemma is whether to start at the earliest opportunity (62), wait until full retirement age (66) or delay until 70 to receive the maximum benefit. The question is compounded when we are married and have the option to […]
Also posted in Beneficiary Designations
How Lady Bird Deeds Work
This deed, with a colorful name, is a very handy tool. A lady bird deed transfers lifetime interest in your property to you making you the life tenant. The deed names a remainder beneficiary who has a future interest in your property upon your death. Your remainder beneficiary can include multiple people, trusts, or organizations. […]
Also posted in Real Estate
Paying for Nursing Home Care
In order to qualify for Medicaid assistance with the expense of nursing home care you must have exhausted the majority of your assets. Your cash assets cannot exceed $2,000, but your homestead real estate equity is allowed up to $560,000. This discrepancy in allowances means that you can protect a significant portion of your assets […]
Planning for your elder care
Thinking ahead to your golden years is difficult because there are so many unknowns. Yet failure to give consideration to what’s ahead can result in the loss of assets, poor care and hardship for your spouse or other family members. You can express your wishes regarding the level of care you’d like, how you’ll pay […]
Also posted in Beneficiary Designations
Married Couples Dilemma: Who Gets the Kids?
For busy couples raising a family, taking time to consider ‘who gets the kids’ is the last thing on the to-do list. In fact, 65% of Americans have nothing in writing regarding the care of their children and distribution of assets upon their passing. Simply put, they do not have a will. If you have […]
Tagged Assets, Legal Guardian, Wills
Estate Plan Documents: Where are they?
Imagine your loved ones not being able to locate the documents you had prepared to administer your estate? A stressful time just became more challenging. One of the most important things about your estate plan and associated documents is remembering where they are. Keeping Track There are three important questions to ask yourself. First, where […]
Also posted in Uncategorized
Tagged Document storage, Estate Plan Documents
Digital Asset Estate Planning
Did you know you own assets, separate from your real estate and personal property known as “digital assets”? A digital asset is digitally stored content or an online account owned by an individual. Your digital assets have personal value and in some cases significant financial value (think of bitcoin or a domain name). Like other […]
Also posted in Beneficiary Designations
Tagged Estate Planning
Common Questions About Probate
What is probate? Before the terms of your will can be carried out the court must accept the document. Probate is the name for the acceptance process. What documents are needed for probate? The court needs a copy of the will and a death certificate. Once the process is underway, an inventory of all assets and debts […]
Also posted in Beneficiary Designations
Tagged Probate
