What Estate Planning Awareness Means For You

Estate planning, including Advance Directives, is important for everyone regardless of wealth or family status.  If you become incapacitated or pass away without a properly documented plan, you are leaving the management and distribution of your assets, and decisions that are important to you, subject to state law as determined and managed by a court […]

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Trusts – The Swiss Army Knife of Estate Planning

Seek Professional Advice With changes to the U.S. tax code and the high cost of living and medical care, it is especially important to make the right decisions when it comes to your financial moves. To the general public, a trust may seem like an advanced tool only for the wealthiest among us. But, the […]

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6 Steps for Inter-generational Estate Planning

Inter-generational estate planning is important. This type of planning is about more than just helping one generation build as much wealth as possible. These plans help prepare heirs to both manage and preserve those assets into the future for long-lasting enjoyment. Below are six steps that can facilitate successful inter-generational estate planning. 1.    Get the […]

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How to Manage Your Basis “Step Up”

If you are planning to leave someone an inheritance, or someone has left you an inheritance, it is important for you to understand how to manage your basis “step up.” A “step up” in basis is the adjustment of the value of an appreciated asset – for tax purposes – upon inheritance.  It’s all about […]

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5 Tips for Successfully Receiving an Inheritance

If you recently received an inheritance, or are expecting to receive one in the near future, it has likely triggered mixed emotions in you. You have lost a loved one and also experienced monetary gain. Studies show that a third of Americans who received an inheritance completely spent it within two years of receipt. Below […]

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Consider “Micro” Estate Planning in the New Year

You are probably familiar with the idea and benefits of traditional estate planning: eliminating probate complications and costs, lowering tax liabilities, and providing financial peace of mind and security for your loved ones. If you do not currently have an estate plan, you should consider getting one as soon as possible. But while many are […]

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The More You Know: Reverse Mortgages & Estate Planning

You have likely seen several advertisements for reverse mortgages. The concept is a simple one:  as long as you own and live in your home, you can supplement your retirement income with a loan that you do not need to pay off. The trade-off when it comes to a reverse mortgage is that you are […]

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Factoring Long-Term Care Into Your Estate Plan Pays Off

  For most people, thinking about estate planning means focusing on what will happen to their money after they pass away. But that misses one pretty significant consideration: the need to plan for long-term care. The last thing any of us want to contend with when a health issue arises later in life is having […]

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Why Hire and Elder Law Attorney to Complete a Medicaid Application?

When spousal or parental nursing home placement is unavoidable, and once it’s realized that Medicare is not going to pay for a nursing home long-term, understanding the Medicaid Chronic Care program becomes critical.  The Medicaid Application is not a simple document to complete and benefits do not automatically roll in when needed.  The Medicaid Application […]

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