When you’ve worked your entire life and accumulated wealth, putting your affairs in order and planning for the future (both yours and the people and causes you care about) is one of the most sensible steps you can take. This is the very essence of estate planning. One...
Year: 2023
How much can you help with an elderly parent’s estate planning?
It can be frustrating to have a parent who’s getting well into their senior years but doesn’t want to think about estate planning – even a will. No one wants to think about death, and the older someone gets, the more frightening it can be. Convincing an elderly parent...
When elderly parents resist necessary changes
For the past five or six months, you have noticed a decline in the physical and/or mental condition of your elderly parents. You want them to move into a retirement community where they will be safe and supervised as needed. They see no reason for leaving the...
Is your elderly parent struggling with money management?
The aging process is something that no one can avoid, and you’ve seen this reality impact your elderly parent recently. One of your main concerns may be that your parent is struggling to manage their money. Outlined below are a few signs that this may be the case....
4 different kinds of trusts that could make estate planning easy
A trust is a legal document that allocates assets to a trustee. Per the instructions of the trust, the trustee will distribute assets to beneficiaries. Trusts are often highly flexible and act much like wills. But, a trust has the added advantage of circumventing...
5 mistakes to avoid when creating an estate plan
Creating an estate plan is a crucial step in ensuring the smooth transfer of assets and the protection of your loved ones after your passing. However, without careful consideration and guidance, individuals can easily make mistakes that may have long-lasting...
Estate planning tools extend beyond simple wills
If you already have a will drafted, kudos to you for being proactive. Widespread estimates indicate that as few as one in three Americans have a will in place. As a result, your efforts have allowed you to outshine your peers when it comes to the estate planning...
3 ways powers of attorney will stop disputes over elderly parents
As your parents age, they may face challenges managing their financial and medical affairs, which can be overwhelming for you and your siblings. One way to avoid disputes and ensure that your elderly parent’s affairs are well-handled is to give a power of attorney to...
Trusts may be beneficial in Medicaid planning
As you approach retirement or begin planning for your long-term care, you might start thinking about Medicaid planning. Using trusts can be an effective way to preserve your assets while still qualifying for Medicaid benefits. There are various types of trusts you...
3 reasons business owners should consider a trust
If you have worked hard to build a family business, it is only natural to want to protect and pass it down to the next generation. But figuring out the best way to pass wealth to your dependents is never a walk in the park, especially if the wealth in question is in...