Retirement plans often make up a significant portion of the assets of parents of children with special needs, or of individuals who have become disabled as adults.  In such cases, the question arises as to whether the retirement plan can be put into a special needs trust. The answer, as with many legal questions, is […]

Many people avoid the process of estate planning because they either assume they don’t need it or that it’s not affordable for them.  Plenty of people are under the impression that estate planning is only for the wealthy but this is definitely not the truth as every individual family and business owner can benefit from […]

If you have multiple children that you intend to be beneficiaries of or executors in your estate, be careful about trying to apply things equally rather than fairly. Having multiple children and leaving them each behind a stake in the house can cause more conflicts than you ever intended. Imagine, for example, that you have […]

Long-term care involves not only a loss of personal autonomy; it also comes at a tremendous financial price. Proper planning can help your family prepare for the financial toll and protect assets for future generations.  Long-term care can be very expensive, especially around-the-clock nursing home care. Most people end up paying for nursing home care […]

If a loved one, such as a sibling or a parent passes away and you are beneficiary of that estate, it is natural to have plenty of questions about how various estate actions can impact you. An executor will need to be appointed to manage the administration of the estate. The executor plays numerous different […]

Most people are familiar with the basic idea behind a will. A will allows you to accomplish a couple of different things with your estate planning strategy. Some of the most important ones include the ability to name a guardian for your minor child and to decide who will receive your assets when you pass […]

Probate has different processes in every state depending on where your loved one lived at the time they passed away. But it generally refers to the legal system through which that person’s individually owned property is passed on after their death. There are many different reasons and options available to avoid probate.Here are the easiest […]

David Rae, Contributor Feb. 11, 2021 Are you dreaming of the day that work becomes an option, and you reach financial freedom? Those who avoided the negative effects of the Coronavirus recession have seen their salaries rise. While stuck at home, many people have seen their savings accounts swell. Combined with the stock markets reaching […]

The passing of a spouse can be especially traumatic for the other married partner but it can also have ripple effects across the entire family. Appropriate estate planning should be completed months or years in advance to ensure that the transition of these assets occurs as quickly as possible. Changes in income can be some […]

All long-term care costs rose sharply in 2020, but assisted living facility costs increased the most, according to Genworth’s latest annual Cost of Care Survey. The across-the-board rises were due in part to increased costs brought on by the coronavirus pandemic.  In the past year, assisted living facility rates grew 6.15 percent for a median cost of […]