Recent Blog Posts
What’s the Latest Trend in Long-Term Care Insurance?
Approximately half of Americans turning age 65 today will require some type of long-term care (LTC) in their lives. The older a person, the more likely he or she will need LTC at some point. The Treasury Department also reminds us about the general aging of the national population because much of the baby… Read More »
What are Trustee Fees?
When you create a living trust to hold assets during your lifetime and/or pass assets on at your death, you must name a trustee to manage those assets. You might name yourself as trustee, although some situations may require that it be another individual or organization, for example, with an irrevocable trust that is… Read More »
Can I Revoke a Power of Attorney?
Cindy’s stepsister, Charlotte, suggests that she be given power of attorney to help Cindy with her business matters, should Cindy not be able to manage her financial affairs. When Cindy agrees, Charlotte’s attorney creates a Statutory Durable Power of Attorney that names Charlotte as her agent. What happened next, according to the Glen Rose… Read More »
New Survey Conducted on Keeping the Elderly Safe in the Pandemic
Those in our oldest generations, who were recently surveyed, were found to be more distrustful of senior living and care operators than younger generations. Nearly half (49.5%) of baby boomers said they don’t trust senior living and care providers to keep residents safe, while 43.9% of the Silent Generation reported the same distrust. Younger… Read More »
How to Keep Track of Mom’s Healthcare Information if She Gets Sick or Injured
It’s common for seniors to have several chronic medical conditions that must be closely monitored and for which they take any number of prescription medications. Family caregivers usually are given a crash course in nursing and managing medical care, when they start helping an aging loved one. The greatest lesson is that organization is… Read More »
What Does Tenancy by the Entirety Mean in Estate Planning?
Choosing an ownership structure for real estate is is an important decision. As a result, it is crucial to understand the options. Motley Fool’s recent article entitled “What is Tenancy by the Entirety?” explains that the only owners of the property must be both spouses of a legally married couple. The couple must be… Read More »
The Differences Between Wills and Trusts
Wills and trusts have specific and quite different benefits for estate planning purposes. Each state has specific laws and regulations governing these legal documents. You can have both a will and a trust; however, the information in each should compliment the other. As a standalone, it is not accurate to say one is better… Read More »
How to Protect Your Estate from Unintended Heirs
Disinheriting a child as an heir happens for a variety of reasons. There may have been a long-running dispute, estrangement over a lifestyle choice, or not wanting to give assets to a child who squanders money. What happens when a will or trust has left a child without an inheritance is examined in an… Read More »
What Do I Look for in a Trustee?
The trustee is tasked with caring for the assets in the trust for one or more beneficiaries. It is the trustee who handles all the necessary paperwork and sees that tax returns are filed. FedWeek’s recent article entitled “Your Options for Selecting a Trustee” explains that probate and trust law creates a fiduciary responsibility,… Read More »
What If a Sole Beneficiary Wants to Share?
That doesn’t sound like a bad idea, right? However, Morningstar’s recent article entitled “3 Strategies to Consider When Sole Beneficiaries Want to Share the Wealth” says that there are a few hurdles to clear, such as the IRA administrator’s policies, income tax consequences, transfer tax consequences and the terms of the decedent’s will. Here’s… Read More »