There are those who feel as though they have plenty of time to start planning for their retirement in the future. They're concerned with the present, and when you are young the matter of retirement can seem out of context. Though this line of thinking may be human nature to some extent it can leave you in a very difficult position when your retirement years do arrive. One of the big stories in the elder law community these days is the rapid expansion of the senior citizen population. There are … [Read more...] about Large Numbers Of Baby Boomers May Never Retire
Your Estate Planning Questions Answered (part 2 of 3)
If you're just now beginning to start your estate planning, you may have a lot of questions. It's normal to be confused about the entire process. We receive estate planning questions on a regular basis. We thought that it would be helpful to outline answers to these common questions. If you have any questions, or if you'd like to discuss your individual estate planning goals, meet with an estate planning attorney. Is a will the only estate planning document that I need? A will is an … [Read more...] about Your Estate Planning Questions Answered (part 2 of 3)
Estate Planning & Charitable Giving
The top priority of most people when they are engaged in the process of estate planning is going to be to make sure that their family members are provided for after they pass away. This is as it should be, but it is not uncommon for some individuals take stock of their broader legacy as well. You may feel some philanthropic urges and decide that you would like to include a charitable giving component to your estate plan. There are a number of different options available, and the nice thing is … [Read more...] about Estate Planning & Charitable Giving
Your Estate Planning Questions Answered (part 1 of 3)
If you are just beginning your estate planning, you may be confused about the entire process. With so many things to consider, you likely have a lot of questions. We've taken the time to compile answers to popular estate planning questions. If you have any questions, or if you'd like to start your estate planning, call our office to set up a meeting. When should I start my planning? Your estate plan should be created as soon as possible. We understand that life can be busy and it can be … [Read more...] about Your Estate Planning Questions Answered (part 1 of 3)
How to Know You’re Working with a Good Estate Planning Attorney
Estate planning is an essential tool that everyone should consider implementing at some point. Not only is it important to have a plan in place, but you also want to make sure that your plan is properly executed. You can do this by making sure that you only work with a qualified estate planning attorney. The guide below will help give you a better understanding of how a good estate planning attorney will act. Your attorney should answer all of your questions and address your concerns. If … [Read more...] about How to Know You’re Working with a Good Estate Planning Attorney
Estate Planning Is Especially Important For Gay Couples
There was recently a lot of buzz in the news about the legalization of gay marriages in the state of New York. Of course such unions are not recognized around most of the country, and this presents some estate planning realities that gay couples must address that are not as important to people who are legally married. If you were to pass away without an estate plan in place and you were married, your spouse would assume ownership of your property under the recognized rules of legal succession. … [Read more...] about Estate Planning Is Especially Important For Gay Couples
Home Equity Conversion Mortgages & Retirement Planning
Retirement planning can be challenging because it involves making projections about things that will be taking place well into the future. No one has a crystal ball so this is certainly an imperfect science. The financial crisis of 2008 offers a good example of how circumstances that are out of your control can have a significant impact on your retirement plan. Many people who planned carefully for decades found themselves in an unexpected position in the wake of the sub-prime crisis and … [Read more...] about Home Equity Conversion Mortgages & Retirement Planning
The 8 Steps Estate Planning
To help you to feel more comfortable both initiating and participating in the estate planning process, here are eight steps of estate planning. Choose an estate planning attorney that you’re comfortable with. Many estate planning attorneys offer seminars, write articles, and will provide a free consultation so you can determine whether you are a good fit. After selecting an attorney, you will be asked to fill out forms outlining your contact information and other basic information … [Read more...] about The 8 Steps Estate Planning
Medicaid & Long-Term Care
In the elder law community the subject of long-term care is a hot topic, and when you analyze the numbers you see a very profound challenge emerging. The population is aging rapidly with senior citizens comprising the fastest growing age demographic in the United States. According to the U.S. Department of Health and Human Services seven out of every ten seniors are some day going to need long term care. 25% of people who have reached the age of 85 are residing in a nursing home, so the fact is … [Read more...] about Medicaid & Long-Term Care
A Look At Current Estate Tax Parameters
One of the primary objectives of estate planning is to position assets in an optimal manner in an effort to avoid asset erosion. One of the most significant sources of asset erosion is the estate tax, so it is important to understand whether or not you are exposed to it so that you can take the necessary steps to mitigate that exposure if necessary. This is a little bit easier said than done because the estate tax parameters are always changing, so we would like to take a look at the present … [Read more...] about A Look At Current Estate Tax Parameters
