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…
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…
Americans are increasingly in need of affordable long-term support services. Premiums for long-term care insurance policies and nursing home bills are exorbitant. The US Department of Health & Human Services (HHS) finds that Americans aged 65 or more have a 70…
Your letter of intent (LOI) is a valuable piece of your estate planning, and although it is informal, it can be a powerful representation of your intentions after you pass away. Everyone knows they need to make a will, but…
You may feel like you are experiencing early dementia, but it may be something else altogether. Of the 5.3 million Americans with Alzheimer’s Disease, approximately 200,000 are under the age of 65. Known as Early-Onset Alzheimer’s, the disease typically strikes people…