When you are planning your estate, you may have concerns if you will be leaving an inheritance to someone that is not good with money. If you name them in a simple will and provide a lump sum inheritance, they could burn through it too quickly and have nowhere to turn later on. These situations … [Read more...] about Inheritance Planning: Protecting a Spendthrift
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Estate Recovery and the Supplemental Needs Trust
Many people with disabilities receive their health insurance through the Medicaid program. These folks also qualify for Supplemental Security Income (SSI), which is self-explanatory. The maximum SSI benefit in 2022 is a modest $841 a month. As estate planning attorney, I advise clients that want … [Read more...] about Estate Recovery and the Supplemental Needs Trust
Is Long-Term Care Insurance a Good Purchase?
You should be aware of the potential impact of assisted living costs when you are planning ahead for the future. About 70 percent of elders will need help with their activities of daily living, but some folks will be able to get the helping hands that they need from unpaid family members and … [Read more...] about Is Long-Term Care Insurance a Good Purchase?
Do You Need a Lawyer to Plan Your Estate?
Most people do not have estate plans in place, and a sense of overconfidence is one of the reasons. Many young adults think they will draw up a will at some point when they are senior citizens, and the matter will be closed. There is really nothing to think about, and a lawyer is not … [Read more...] about Do You Need a Lawyer to Plan Your Estate?
Survey: Two-Thirds of Americans Don’t Have Estate Plans
Death and taxes are two certainties of life, and we all acknowledged one of them recently in April. However, the vast majority of people do not plan ahead for the other one, and this is an oversight that is not getting any better. Caring.com Survey Each year, Caring.com conducts surveys that ask … [Read more...] about Survey: Two-Thirds of Americans Don’t Have Estate Plans
Avoid These Costly Inheritance Planning Missteps
There are some estate planning errors that people often make that yield negative consequences. With this in mind, we will look at three of these common mistakes in this post to help you steer clear of them. Do-It-Yourself Estate Planning If you conduct a search to find information about estate … [Read more...] about Avoid These Costly Inheritance Planning Missteps
