Member of the LGBTQ community, and those who support them, know what a battle it has been (and continues to be) to try and gain the legal right to marry and share in all the numerous benefits legal marriage offers. In recent years, those efforts have finally begun to pay off as a number of states have enacted laws allowing same-sex marriage. In addition, the Supreme Court of the United States finally struck down the definition of marriage used in the Defense of Marriage Act (DOMA) and in the … [Read more...] about Estate Planning for Same-Sex Couples
“I Just Found Out I Was Named As the Trustee of a Trust – What Should I Do?”
When a trust is created the maker of the trust must make a number of important decisions. One of the most important decisions is who to appoint as Trustee of the trust. Though it is always wise to discuss the appointment with the intended Trustee before making the appointment final, there is no requirement that a maker do so. As a result, it is possible to be named as the Trustee of a trust agreement and only find out about it after the death of the maker of the trust. If you just found out that … [Read more...] about “I Just Found Out I Was Named As the Trustee of a Trust – What Should I Do?”
Long-Term Care Costs – Can You Afford Them?
Like most people, you may not wish to dwell on the possibility that you could need long-term care at some point in your life. The thought of living in a nursing home is often not pleasant; however, ignoring the possibility may be far worse. Specifically, ignoring long-term care costs can put you, and your loved ones, in a very difficult position should the day come that you do actually need nursing home care. Planning ahead, and including Medicaid planning in your comprehensive estate plan, is … [Read more...] about Long-Term Care Costs – Can You Afford Them?
Mistakes to Avoid in a Power of Attorney
A power of attorney is one of the most commonly used legal documents, particularly in the area of estate planning. As such, there is a very good chance that at some point in your life you will wish to create a power of attorney, or POA. As with all legal documents, the best way to ensure that your POA accomplishes what you intend it to accomplish and is error-free is to have your estate planning attorney draft the document, or at the very least review one you are considering using. Although a … [Read more...] about Mistakes to Avoid in a Power of Attorney
Is There a National Association of Elder Law Attorneys?
The elderly population is growing by leaps and bounds in the United States. By 2050, experts tell us that the number of older Americans (over age 65) will outnumber their younger counterparts (under age 21) for the first time in recorded history. The increase in the elderly population has led to an increase in the need for services catering to the elderly, including legal services. While older individuals face many of the same legal issues that younger people do, they also have some unique legal … [Read more...] about Is There a National Association of Elder Law Attorneys?
How to Start a Discussion about Your Estate Plan with Loved Ones
If you are like most people, sitting down and thinking about your own death or incapacity was difficult enough, though it was necessary in order to create your comprehensive estate plan. The idea of sitting down once again and discussing that plan with loved ones may not sound all that appealing; however, there are several reasons why it is a good idea to do so. If you have decided to share your estate plan with interested parties, consider the following tips on how to start a discussion about … [Read more...] about How to Start a Discussion about Your Estate Plan with Loved Ones
The Fight Over Sentimental Assets
Robin Williams first made his way into the hearts of the American public in his role as “Mork” on the hit television series “Mork & Mindy” during the late 1970s – and he never left. Williams went on to gain public applause for his hilarious comedic talents as well as critical acclaim for his dramatic roles in films such as Dead Poets Society and Awakenings. Sadly, the actor/comedian committed suicide in his home on August 11, 2014 after a long battle with depression. Given Williams’ … [Read more...] about The Fight Over Sentimental Assets
Veterans Administration Benefits, Nursing Homes, and Other Elder Care Options
Qualified veterans can take advantage of several different programs if they need to stay in a nursing home, elder care center, or require other forms of long-term care. Many veterans aren’t aware that the Veterans Administration provides nursing home care benefits, while many others have difficulty trying to find helpful information about applying. Let’s take a look at what kinds of nursing home care benefits are offered to veterans through the VA. Nursing Home Programs The Veterans … [Read more...] about Veterans Administration Benefits, Nursing Homes, and Other Elder Care Options
Do My Assets Get a Step Up in Basis If They Are in My Trust When I Die?
If you have worked hard all your life and plan to gift your hard earned assets to loved ones when you die it is always best to plan ahead by creating a comprehensive estate plan. When you gift assets to someone there are issues that need to be taken into account, such as the tax implications of your gift. Capital gains taxes, for instance, may apply when a beneficiary sells an asset received as a gift. The good news is that assets gifted at the time of death may get a “step up in basis”. You may … [Read more...] about Do My Assets Get a Step Up in Basis If They Are in My Trust When I Die?
What Is the Difference between SSDI and SSI?
At some point in your life, you or someone you love may become disabled. A disability often creates a financial hardship along with the emotional and physical toll the disability takes on the victim. Fortunately, there are two federal assistance programs that may be able to help ease the financial burden that frequently accompanies a disability. Those programs are Social Security Disability Income, or SSDI, and the Supplemental Security Income, or SSI, program. Though both provide financial … [Read more...] about What Is the Difference between SSDI and SSI?
