Most people want to pass their assets to their children or grandchildren, but naming a minor as a beneficiary can have unintended consequences. Contact The Law Office of Aubrey Carew Sizer PLLC to learn how to properly leave assets for the benefit of a minor.
One main difference between a will and a trust is that a will goes into effect only after you die, while a trust takes effect as soon as you create it.
Buying long-term care insurance is one way to protect against the high cost of long-term care. However, this type of insurance may not be for everyone, so consider all your options. Determining whether you need long-term care insurance depends, in part, on your financial situation.
Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax efficiency, but there are potential problems to look out for. In a life estate, two or more people each have an ownership interest in a property, but for different periods of time.
COVID vaccines are starting to roll out to nursing homes across the country, signaling the beginning of the end of the pandemic.
Pets are members of the family, so it is important to consider how to provide for them in your estate plan just as you would the human family members.
Many types of property and investments pass outside of probate and allow you to designate who will receive them after your death. It is important that these designations are kept up to date and are consistent with the rest of your estate plan.
There are a number of reasons for appointing a trust protector. Having a protector allows a long-term trust to be more flexible and adapt to factual and legal changes.
If you are experiencing financial hardship due to the coronavirus pandemic, you may want to consider withdrawing money from your retirement account while you still can. The special exemption allowing early withdrawals without a penalty ends soon.
Medicare premiums are set to rise a modest amount next year but still cut into any Social Security gains. The basic monthly premium will increase $3.90, from $144.60 a month to $148.50.
Congress enacted a special provision that allows more people to easily deduct up to $300 in donations to qualifying charities this year.
Planning to "Do-it-Yourself" Estate Planning Online? Please Think Again and Consider These Pitfalls.
Social media is flooded with ads for websites offering do-it-yourself wills and other estate planning documents. These digital services appear to offer a cost-effective and easy alternative to working with an estate planning or elder law attorney. Although these sites may appear convenient, you are taking a huge risk entrusting your wishes to a boilerplate form.
Pre-paying for your funeral is one way to ease the burden on your family following your death and make sure your wishes are carried out. Despite the benefits, pre-paid funeral plans come with risks, so if you are considering purchasing a pre-paid funeral plan, here are a few things to consider.
Allocating your personal possessions can be one of the most difficult tasks when creating an estate plan. To avoid family feuds after you are gone, it is important to have a plan and make your wishes clear. When passing on possessions to your heirs, savings and investments are easy to divi...
Choosing a nursing home for a loved one is a difficult decision and it can only be made more confusing by the various rating systems. A recent study found that using both Medicare's Nursing Home Compare site and user reviews can help with the decision making. The official Medicare website i...
Medicare premiums are set to rise a modest amount next year, but still cut into any Social Security gains. The basic monthly premium will increase $3.90, from $144.60 a month to $148.50. The Centers for Medicare and Medicaid Services (CMS) announced the premium and other Medicare cost increa...