For those who are unfamiliar with the Veteran’s Aid and Attendance, or VAA, program, it is a program available through the Department of Veteran’s Affairs that provides financial assistance to veterans and their spouses. The program helps pay the cost of assistance for those who need assistance performing everyday functions. Assistance can be provided at home or at an assisted living facility. The program often makes a significant difference to recipients. If recently introduced legislation … [Read more...] about Veteran’s Aid and Attendance Benefits May Include Look-Back Period in Future
Estate Planning Tips for the Wealthy
Whether you have a modest estate or a multi-million dollar estate you have a need for an estate plan; however, wealthy individuals have even more assets to protect requiring very careful estate planning. The wealthy, however, are just as susceptible to making mistakes when creating an estate plan as someone with fewer assets to be concerned about. Therefore, consider the following estate planning tips for the wealthy: Consider lifetime gifting— to avoid estate and gift tax exposure, start … [Read more...] about Estate Planning Tips for the Wealthy
Things to Consider before Creating an Estate Plan for a Second Marriage
If you are planning a second marriage, you likely have many things on your mind. This is particularly true if one or both of you are bringing children into the new blended family. Creating a new estate plan may not be at the top of your list of concerns at the moment, but you should address your estate plan before you actually get re-married. Only you and your estate planning attorney can create your new plan, but there are some things to consider before sitting down for your appointment. Take … [Read more...] about Things to Consider before Creating an Estate Plan for a Second Marriage
Expectations for Your First Estate Planning Appointment
So you have finally made that appointment with an estate planning attorney, or have made a New Year’s resolution to make one…now what? If this is the first time you have sat down with an estate planning attorney then you may have no idea what to expect. Naturally, not all attorneys will operate exactly the same, and not all clients bring the same concerns to the table; however, there are some common expectations from an initial meeting. Your attorney will usually start by gathering some basic … [Read more...] about Expectations for Your First Estate Planning Appointment
Relying on the Wrong Documents –Estate Planning Mistakes to Avoid
Everyone knows that they need to create a comprehensive estate plan, yet even the rich and famous sometimes make mistakes when it comes to creating their estate plan. In fact, two of the biggest estate planning celebrity mistakes involved relying on the wrong documents – a mistake that could have easily been avoided with the proper advice from an estate planning attorney. Princess Diana – the princess beloved by the entire world died in a tragic car crash back in 1997. Although the Princess … [Read more...] about Relying on the Wrong Documents –Estate Planning Mistakes to Avoid
Estate Planning Considerations for Individuals Using Artificial Reproductive Technology
As recently as a generation ago, infertile couples had very few options other than adoption. Single individuals and same-sex couples who dreamed of becoming parents typically did not even have that option. Thanks to changing societal norms, and advances in artificial reproductive technology, or ART, the options are now numerous and ever expanding. In fact, about 250,000 children are now born each year through ART, which includes artificial insemination, egg and embryo donation, and post-death … [Read more...] about Estate Planning Considerations for Individuals Using Artificial Reproductive Technology
Higher Lifetime Exemption Limit May Require Changes to Your Estate Plan
For millions of taxpayers who once focused much of their estate plan on avoiding the gift and estate tax, the passage of the American Taxpayer Relief Act of 2012 brought welcome changes. Specifically, the Act set the estate and gift tax lifetime exemption amount at $5.25 million – adjusted annually for inflation. For many taxpayers, the historically high lifetime exemption amount means they no longer need to worry about estate taxes. For others it at least takes some of the pressure off. In … [Read more...] about Higher Lifetime Exemption Limit May Require Changes to Your Estate Plan
Charitable Trusts – A Remarkable Example
If you are someone who considers charitable giving to be an important part of your life, and by extension your estate plan, then you have likely considered creating a charitable trust. You may, however, wonder whether a single charitable trust can actually make a difference. Consider the following example of one that has made a difference now for over 200 years. The Sailors’ Snug Harbor trust was originally established over 200 years ago – in 1801 to be exact – by an old sailor named Captain … [Read more...] about Charitable Trusts – A Remarkable Example
Common Regrets of the Dying
People often say they “have no regrets” but the truth of the matter is that most of us do have regrets. In fact, according to a nurse who cared for the dying we tend to share common regrets. In her book “The Top Five Regrets of the Dying” she shared the top five most common themes she gleaned from her dying patients regarding regrets they had. According to the Australian nurse, the five most commonly heard regrets were: I wish I'd had the courage to live a life true to myself, not the life … [Read more...] about Common Regrets of the Dying
Technology for Seniors
If you are nearing your golden years then you grew up in a time when the internet was a concept that only existed in science fiction movies and “car phones” were something only the President and kings of foreign countries used. Today, however, even kindergartners know how to use the internet and likely carry around their own cell phone. Although all of this 21st century technology may be a bit daunting, it can be used to make your golden years better. There are a number of areas in your life … [Read more...] about Technology for Seniors
