The Role of Legacy Planning Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys You may have many fond childhood memories of lively family gatherings. And it was probably not unusual to hear older family members remark how happy they were when everyone gathered for those special meals and how proud they were to see their legacy living on in their loved ones. Think of legacy planning as an extension of that sentiment. Different from estate planning, … [Read more...] about The Role of Legacy Planning
Preparing for Your First Estate Planning Consultation
Preparing for Your First Estate Planning Consultation Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys You’ve made the decision to focus on your estate plan. It’s an important time and you’re not quite sure what to expect before meeting with an estate planning attorney. Odds are, it’s not nearly as overwhelming as you’re anticipating. There are a few things you can do to ensure you’re well-prepared for your first estate planning … [Read more...] about Preparing for Your First Estate Planning Consultation
Women and Estate Planning – Debunking the Myths
Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys In the 21st century, most of the issues surrounding equality of the sexes have been resolved. Women are no longer relegated solely to the role of housewife and mother and the younger generations generally accept the idea of gender equality without giving it much thought. Equality, however, does not preclude differences. One area where it is important for women to recognize those differences is in the … [Read more...] about Women and Estate Planning – Debunking the Myths
Medicaid Asset Transfer Rules – When Gifting Can Cost You
Compliments of Our Law Firm Written By: The American Academy of Estate Planning Attorneys Even if you have never needed to rely on Medicaid before to help with your health care costs, the odds are good you will need to as a senior. Why? The answer can be found in the high cost of long-term care (LTC). At an average yearly cost of over $80,000 nationwide, and an average length of stay of 2.5 years, it should come as no surprise that over half of all seniors in need of LTC rely on Medicaid to … [Read more...] about Medicaid Asset Transfer Rules – When Gifting Can Cost You
A Nursing Home’s Take on the Need for Medicaid Planning
Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys There has long been a misconception that nursing homes and Medicaid planning are on opposing sides of the proverbial fence. That misconception is starting to change as many nursing homes begin to realize that Medicaid planning actually helps ensure that patients qualify for Medicaid. In turn this ensures that the patient’s financial obligation to the nursing home is covered. Without Medicaid planning, a … [Read more...] about A Nursing Home’s Take on the Need for Medicaid Planning
Medicaid Gifts to Children
Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys At some point during your retirement years there is a very good chance you (and/or your spouse) will need long-term care. There is also a good chance that you will need to qualify for Medicaid benefits in order to cover the high cost of that care. Qualifying for Medicaid can be a complicated process given the complex eligibility guidelines. The asset transfer rules, in particular, are a source of much … [Read more...] about Medicaid Gifts to Children
Are You Prepared to Pay for Long-Term Care?
70% of people currently over age 65 will require some long term care someday. That is the estimate of the U.S. Administration on Aging, a division of the U.S. Department of Health & Human Services. Will Medicare or private health insurance pay for it? The short answer is “no”. In the decades ahead, baby boomers will reach their seventies, eighties and nineties. With aging parents of their own, some are learning how much long term care really costs. Some are still unaware. How many of us are … [Read more...] about Are You Prepared to Pay for Long-Term Care?
Your Independence, Rising Medical Costs and Retirement
Your Independence, Rising Medical Costs and Retirement Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Many of us believe we have the “planning for the future” space covered. We’ve worked hard and saved. Our homes are paid off by the time we go into retirement and as far as we’re concerned, life now consists of living well in the way we define. In a perfect world, that’s true. In reality, there are a few things which can quickly annihilate our sense of … [Read more...] about Your Independence, Rising Medical Costs and Retirement
Estate Planning for Young Adults
Estate Planning for Young Adults Estate Planning for Young Adults Written By: The American Academy of Estate Planning Attorneys Parents know there is no statute-of-limitations on worrying about their kids. Your interest in your child’s health does not end once your son or daughter reaches adulthood. However, your legal interest in having a say about your child’s medical care ends on the day that he or she turns 18. This means that while you have the final word about medical care one day, the … [Read more...] about Estate Planning for Young Adults
Selecting an Estate Planning Attorney Wisely
Selecting an Estate Planning Attorney Wisely Written By: The American Academy of Estate Planning Attorneys When former NFL quarterback, Steve McNair, died without a Will, his family members were left to fight over his expansive estate. Immediately after his death, although news reports indicated the NFL-star had provided instructions to his family and that his wife wasn’t trying to exclude his mother from inheriting, things quickly deteriorated. Two years later, on the anniversary of McNair’s … [Read more...] about Selecting an Estate Planning Attorney Wisely
