As the Internet of Things (IoT) increasingly permeates our lives, it is more necessary than ever to identify the digital property you own and manage it. From smart home devices to online investments and bank accounts, we’ve gone way beyond…
Estate planning is most commonly associated with wills, trusts, and passing assets to the next generation. However, there is another part of estate planning that doesn’t get as much attention. It concerns advance health care planning. Have you thought about…
As Americans age, we are also living longer, which means more of us will require long-term care in the future. It is estimated that seven out of ten Americans will need long-term care during their lives. Long-term care can include…
Elder law encompasses a wide range of legal issues pertaining to elderly or disabled persons. Attorneys practicing elder law advocate for seniors and create legal plans to help them live better. Elder law may include planning for retirement, Social Security,…
The number of older Americans who are widowed or divorced is at an all-time high, prompting new partnerships in their lives. The US Census Bureau reports that more than half of all older adults have only married once, opting to stay legally…
Limited liability companies (LLCs) exist structurally between partnerships and corporations. Frequently, small business owners are aware of the benefits of this hybrid legal entity for financial management, yet an LLC has equal benefits for estate planning as well. In the…
Inflation will continue to rise in the United States into 2023 unless significant course corrections are made. Bankrate’s Third-Quarter Economic Indicator poll projects inflation will be more significant than previous expectations over the coming twelve to eighteen months. Even in the…
The experts agree that you should not wait until your parent is in cognitive decline to discuss finances with them. It will take time to gather all the information you need for a complete financial assessment of their aging needs.…
The IRS adjusted the portability strategy of deceased spouse unused exclusions on July 8, 2022. This adjustment made it easier than ever for high-net-worth married couples to avoid paying federal estate taxes. Understanding the Portability of a Deceased Spousal Unused…
The probate process is the formal recognition of a will, the selection of a personal representative (executor), and the distribution of the estate's assets to those who are intended to benefit from them. It also requires paying the decedent’s outstanding…