Category Archives: Estate Planning
What Happens to Your Digital Assets After You Die? (Passwords, Crypto, and Online Accounts)
In our modern world, several aspects of our lives are now online, from emails and social networking sites to financial transactions and digital currency wallets. However, most people forget that these digital assets should be part of their estate plans, which leaves the people left behind with a difficult time managing and accessing them…. Read More »
Using Irrevocable Trusts to Shield Assets: What You Need to Know
If you are worried about losing the money you have because of long-term care, creditor issues, and estate taxes, an irrevocable trust is one of the best ways to plan for that. What is unique about an irrevocable trust is that you can place your property outside your own name, which would protect it…. Read More »
Blended Families and Estate Planning: Avoiding Conflict Between Spouses and Children
Blended families are becoming more and more prevalent in today’s society. This type of family involves one or two people who are remarried with children from previous relationships. Although blended families offer many new possibilities and relationships, they can face some difficulties when planning for their estate distribution. Proper estate planning is necessary to… Read More »
How an Early-Onset Alzheimer’s Diagnosis Can Change Your Estate Planning Strategy
Most folks think Alzheimer’s disease only affects those of advanced age, but early-onset Alzheimer’s can affect individuals in their 60s, 50s, and even early 40s. They may still be working, have families, and financial obligations they need to meet. The shock of a diagnosis at a young age can be overwhelming. However, it also… Read More »
Understanding the Medicaid Look-Back Period: How One Mistake Can Delay Nursing Home Coverage
One of the most important areas in elder law is planning for long-term care. The cost of nursing home care can be thousands of dollars a month. Many families rely on Medicaid to assist in paying for these costs. However, to qualify for Medicaid benefits, there are many financial eligibility rules. One of the… Read More »
Medicaid Planning Mistakes That Could Cost Your Legacy
For many elderly citizens, Medicaid is a vital source of payment for long-term care. However, the Medicaid qualifications are complicated, and any error could cause delays, penalties, or the improper expenditure of resources. Proper planning is vital if you are to successfully protect your legacy while still receiving the care you need. Misunderstanding the… Read More »
Reviewing and Updating Your Estate Plan: When and Why It Matters
Estate planning is an important step for you, your family, and your assets. However, many individuals make the mistake of considering estate planning to be a one-time process. This is not true, and an estate plan must be reviewed and updated from time to time to reflect your life, your wishes, and the law…. Read More »
How Digital Assets Fit Into Your Estate Plan
The majority of folks who are picturing an estate plan think of tangible assets like a home, a bank account, or family heirlooms. But today, many of the things that we prize exist online. Email accounts, digital photos, and social media accounts are all examples of assets that we don’t necessarily think about. They… Read More »
Estate Planning for Blended Families: How to Avoid Common Pitfalls
Blended families are more common today than ever before, and as wonderful as this is, it also brings its own set of unique challenges when it comes to estate planning. If you are part of a blended family (you are remarried and have stepchildren or children with multiple partners), then a simple will just… Read More »
How Cognitive Decline Can Affect Estate Planning Validity and Why Planning Early Matters
Estate planning is more than just planning what happens to your property after you die. It is also ensuring that your wishes are carried out. Cognitive decline is one factor that could potentially compromise an estate plan, even if it is well-planned, as memory loss and a decline in mental capacity could potentially challenge… Read More »