If you have recently remarried, there are unfortunately more opportunities for uneven distributions and disputes when you pass away. You need to carefully consider the inheritance you have set aside for anyone else as well as any beneficiaries you have named in your life insurance, trust, wills and retirement accounts. It is likely that after [...]
We've already impressed the general importance of business succession planning in numerous blogs, but many people never get to the point of actually accomplishing it because they are falling for one of these three common myths. Myth #1: A Successor is Automatically Ready When I Am Without having this conversation with a successor, you cannot [...]
The Obama administration recently revealed several areas of focus and efforts to limit loopholes that foreign individuals use to hide assets within the U.S. In his remarks, Obama shared that the Panama Papers helped to indicate steps forward the government is taking to have clearer responses to these kinds of issues, and the president is [...]
When you work with an elder law attorney, you get the benefit of knowing that this individual is well aware of the laws impacting you and your loved one and is committed to helping you apply them correctly. There are clear policy guidelines associated with agencies who administer programs for individuals with disabilities and the [...]
Medicaid planning involves a careful consideration of an individual's assets to determine whether or not he or she legally qualifies to receive nursing home benefits for Medicaid. Many individuals who do not carefully consider this process or who do not have other significant resources to support them in their older years such as long-term care [...]
There are several different things that your company can do to make the process of business succession planning that much easier. Putting together your plan once is not enough as you must be able to revisit this on a regular basis and make potential changes as you see fit. It’s much easier to craft [...]
In a recent decision from the Supreme Court, IRAs are no longer classified as protected retirement funds which means that they could be subjected to creditors' claims if the beneficiary filed for bankruptcy. In the case of bankrupted estates, inherited IRAs could now be classified as assets, meaning that they would be fully accessible to [...]
Unfortunately, many seniors who live alone or do not have the opportunity to leave their home on a regular basis may suffer from loneliness. With a rising number of seniors living alone, isolation is a key concern for family members and those providing care. What follows are five tips to help your loved one stay [...]
The tax code on its own is quite confusing but it can become even more complicated when you're thinking about leaving behind assets for a special needs beneficiary. One of the most common points of confusion in the U.S. tax code has to do with the gift tax. While most people are familiar with [...]
Asset protection planning is simply using legal strategies and structures to transform property from that which could be accessible to creditors to at least making it partially protected. There are several tips that you can use to accomplish this goal. Rely on Liability Insurance The first line of defense against any kind of liability is [...]
