Are your financial plans tied to your spouse’s? If you’ve been married a long time, it’s impossible to ignore the possibility that your plans rely on the joint financial strategies or savings you’ve accumulated together. Which makes it that much harder to pivot if you get a divorce in your older years. There are unique [...]
Some individuals or families wish to leave behind a significant donation at the time that they pass away. A charitable remainder trust is one estate planning tool to help you do this. You'll want to consult with an estate planning lawyer to decide whether or not this is the right instrument for you. There are [...]
Creating an estate plan requires a holistic view of what you intend to accomplish and will require your consideration and thought. It is usually best done with the help of an experienced estate planning lawyer when you start the process. One of the first things you will do is to create an overview or a [...]
Creating your own will is a common interest for many people who have had this on their to-do list for some time and are concerned about how to best protect their interests and cross this off their checklist. Creating a DIY will is an alternative to hiring an experienced lawyer but it also comes with [...]
If you are a few decades away from retirement, now is the time to evaluate your current savings strategy and to evaluate the need to make any adjustment. Investments can serve as an important source of income in retirement especially when retirees can tap into investments that pay dividends. The primary purpose of using dividends [...]
Tenancy in common is a formal arrangement in which two or more individuals have ownership rights in a property or a piece of land. Each person who owns a portion of tenancy in common could own a different percentage of the total property or an equal percentage. This property type can also be residential. Tenants [...]
While it is preferable to conduct long-term care planning well in advance of needing care, if you haven’t planned ahead, there are some strategies available to avoid spending all your assets. Three so-called "half a loaf" approaches allow a Medicaid applicant to give away some assets while still qualifying for Medicaid. In order to be [...]
Social Security benefits are an important form of fixed but recurring income for most retirees. There are many important details that you should consider in terms of incorporating these as part of your retirement plan and in conjunction with your estate planning strategy. Individuals in the United States can currently start receiving social security benefits [...]
Do you have an estate plan that includes life insurance? If you don't yet, you should. Talking with an experienced estate planning lawyer about life insurance provides important and immediate access to funds for your loved ones. Leaving behind assets to your loved ones is a common goal for anyone creating their estate plan but [...]
You are probably doing your own due diligence to ensure that your chosen fiduciary, also known as an executor or personal representative, has everything they need to make probate simple. However, there are some circumstances when it might also make sense for this fiduciary to get the support of an experienced attorney. This can be [...]
