What would happen if another child is born after establishing an estate plan?
This question presents a fairly common issue posed to estate planning attorneys. The solution is also pretty easy to address in your will, trust and other estate planning documents, including any guardianship appointment for your minor children.
First, its important to note that...
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If you’re 70 and have considerable assets, should you consider Medicaid Planning?
There are many factors to consider when deciding whether or not to implement Medicaid planning. If you’re in good health, now would be the prime time to do this planning. The main reason is that any Medicaid planning may entail using an...
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Would transferring your home to your children help avoid estate taxes?
Before transferring your home to your children, there are several issues that should be considered. Some are tax-related issues and some are none-tax issues that can have grave consequences on your livelihood.
The first thing to keep in mind is that the current...
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Borrowing from your retirement accounts: Issues to consider
So you have credit card debt, overdue mortgage payments, or suddenly need to buy a new car. We’ve all been there. You need money now, and your retirement accounts continue to climb. Fortunately, many employers allow you to...
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Important Steps to Plan for the Future of a Special Needs Child
#1 Establish a Comprehensive Plan
Most estate planning attorneys will say that no person should use a “do-it-yourself” will kit to establish their estate plan. If you have a child with special needs, it is extremely important to seek...
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Business Succession Planning Tips
Business succession plans contemplate and instruct regarding any changes in future ownership and management of a business. Most business owners know they should think about succession planning, but few actually end up doing so. It is hard to think...
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Making your home senior-proof
Let’s face it – it’s tough getting old. The aches, pains, and pills often associated with aging are things that many members of the baby-boomer generation know all too well by now. Though you might not be able to...
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Important Issues to Consider When Setting Up Your Estate Plan
Often estate planning focuses on the “big picture” issues, such as who gets what, whether a living trust should be created to avoid probate and tax planning to minimize gift and estate taxes. However, there are many smaller issues,...
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Where to Incorporate Your Small Business
Should you incorporate your business in your home state? What about Delaware or Nevada, long known as havens for corporate entities? This decision should not be taken lightly because incorporating your business in a particular state will determine, to...
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Advance Planning Can Help Relieve the Worries of Alzheimer’s Disease
The “ostrich syndrome” is part of human nature; it’s unpleasant to observe that which frightens us. However, pulling our heads from the sand and making preparations for frightening possibilities can provide significant emotional and psychological relief from fear.
When it comes to Alzheimer’s...
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When it comes to Alzheimer’s...