Special Needs Planning For Your Loved One
Sometimes referred to as supplemental needs trusts, third-party special needs trusts are estate planning tools for parents of children with disabilities and the elderly. This type of trust will receive assets from you or another benefactor expressly for that person with a disability. Goals include: leaving funds for your child’s or elderly family member’s benefit […]
The Risk of Online Do-It-Yourself Estate Plans
We hear this question all the time: “Can’t I just grab a will off the internet, do a transfer-on-death deed for my land, put my kids on my bank account, and be done with my estate plan?” It’s just not a good idea. For the plan to work as you would want it to, it […]
When Is Probate Unavoidable?
While probate may seem expensive and complicated, it is a standard step in formalizing how assets pass to heirs or beneficiaries. Whether or not you require probate depends on the type of property and how you own it, and the state laws in which you live. While probate can be a complex process for vast […]
How to Handle Cryptocurrency in Your Estate Plan
As many as 46 million Americans own the most popular and well-known crypto asset, Bitcoin, according to Florida Today. Bitcoin was created in January 2009 by Satoshi Nakamoto as a peer-to-peer electronic cash system. This digital or virtual currency is held secure using cryptography, making it nearly impossible to double-spend or counterfeit. What is Cryptocurrency? […]
Power of Attorney: Roles & Responsibilities
Appointing a power of attorney is essential when planning for the possibility that you may become incapacitated and need a trusted agent to manage your affairs. The power of attorney legal documents can grant broad authority to one or more agents to transact business or make medical decisions based on your behalf. What are the […]
The 5 Must-Haves for New York Estate Plan
As we age, the need for estate planning becomes even more vital. Many people avoid estate planning, because they do not want to think about the end of life, failing health or disability. Others believe that an estate plan is only for rich people. However, an estate plan is helpful for the senior adult and […]
Why an Elder Law Attorney Is Critical When Planning
If there is an aging loved one in your life or you have personal concerns about future health and finances, an elder law attorney can be a valuable resource for planning. Elder law is a highly specialized area of law focusing on the legal needs of older adults encompassing more significant issues like long-term health […]
Overcoming Challenges When a Spouse Becomes a Caregiver
Caring for a seriously ill spouse is not easy, and can lead to a variety of relationship challenges. With the passage of time and in the process of change, you can lose your best friend, your love, and your future as you both had imagined it. Promises will change from words spoken in oath on […]
Be Prepare for the Unexpected with a Living Will
Your preferences for life-sustaining medical treatment can be outlined in a living will. A living will is often joined by a health-care proxy or power of attorney, which allows someone to make treatment decisions for you if you are incapacitated and the living will does not have specific instructions for the situation at hand. “Living […]
Avoid These Common Mistakes When Planning for a Disabled Family Member
The largest single minority in the United States consists of 58 million individuals five years of age or older that are identified as special needs. The majority of federal and state benefits available to help persons with disabilities are needs based, meaning income and assets are strictly limited and can often by misinterpreted, resulting in […]