NC and SC Estate Planning and Elder Law Firm

While trusts may be often discussed as being included in an estate plan, the tax consequences of a trust are not always addressed. This is unfortunate because trusts can have significant tax implications for both grantors and beneficiaries. Here, we will address how irrevocable trusts are taxed.
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One prominent portion of elder law is long-term care planning. Much of long-term care planning focuses on your ability to plan for affordable long-term care based on the resources available to you. Long-term care is increasingly expensive and few can afford such costs without having their life’s savings quickly demolished.
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Most people do not exactly look forward to moving into a nursing home and this may be putting it mildly. A nursing home, however, can be the best option for an aging loved one to live in a safe environment while getting the necessary mental and physical support. Knowing when the right time to make the move into a nursing home can, however, be a difficult decision. Here, we will discuss several things that may be signaling that the time has come to make the transition into a nursing home.

When It May Be Time to Move to a Nursing Home

Whether it may be time to move to a nursing home will largely hinge on whether a person is safe and secure at home, the status of his or her health (both mental and physical), and what his or her projected future medical and personal needs may be.
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We live in unprecedented times for a number of reasons. One reason is the fact that people are living longer than ever before. While people may be reaching ages like we have not seen in the past, this also means that people often require assistance and care for what may be several years. As people have started living their golden years for much longer timespans, family caregivers have played an integral role in helping to ensure aging family members remain comfortable and well taken care of. Unfortunately, however, caregiver burnout is all too real.

It may have been months since you have been able to see your loved one living in a nursing home. COVID-19 restrictions have been especially stringent in these facilities as the residents are part of a particularly vulnerable population and have been shown to be extremely susceptible to contracting the virus and experiencing extremely severe, even life-threatening, symptoms. After extended closures to the public, nursing homes across the country are beginning to reopen. They are, however, doing so cautiously. Before you go to visit your loved one in a nursing home that is planning to reopen, here are some things you will want to know about.
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There are many benefits offered by the VA that, unfortunately, many veterans are not aware of. These benefits are well earned and veterans should know about them. For instance, did you know that the VA offers burial and memorial benefits to qualifying veterans and, in some instances, spouses of veterans? Here, we discuss what exactly may be available to you in the way of burial and memorial benefits offered by the VA.

What Burial and Memorial Benefits are Offered by the VA?

The type of burial and memorial benefits offered by the VA will largely depend on a few factors, including when the veteran passed away, how the veteran passed away, and where the veteran wants to be laid to arrest. For service-related deaths, the VA pays up to $2,000 to cover burial costs if the veteran died on or after September 11, 2001.
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Each year, Medicare open enrollment happens. Beginning on October 15 and ending on December 7, open enrollment marks an important opportunity for eligible individuals to enroll in Medicare plans or make changes to existing coverage selections. It is important that Medicare participants take time each year to review their existing Medicare coverage and make any changes needed in order to maximize their coverage opportunities.
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Testamentary capacity is essential to making a valid will. In fact, testamentary capacity refers to the mental capability of a person to establish a formal will. For a person drafting a will, referred to as the “testator,” having testamentary capacity is a requirement for the will to be recognized as valid.
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The year 2020 has thrown some difficult things in our way as a nation and a global community. The COVID-19 pandemic has threatened the health and well-being of people across the world. While new information comes out almost daily as researchers search for a vaccine and a better understanding of this novel virus, one thing seems to have been clear from the beginning which is that seniors tend to be much more susceptible to the dangers associated with contracting COVID-19. This has led to extra strict measures being recommended and required for seniors and senior communities, such as nursing homes and other long-term care facilities. Isolation has been a sad side effect of these strict, but necessary measures.
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Having an estate plan in place means that you have taken a valuable step towards protecting a future you want for you and your family. In order for an estate plan to be most effective, however, it needs to remain updated so that it always falls in line with your most current wishes. This means that you should take time to revisit your estate plan, especially after major life events, in order to make sure that it still reflects what you want for you and your loved ones.
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Life in the times of the COVID-19 pandemic sometimes seems dominated by fear and anxiety. The potential of life-threatening illness looms in the air and many people feel lost as to what they can do to regain some sort of control over this new life. This can be especially true for parents that are sending their college-aids kids off to school. While campuses have made major efforts to put protections in place geared towards keeping staff and students as safe and healthy as possible, there is still that fear of what could be. One way to help find some peace of mind and regain a sense of control is to evaluate what legal tools you have in place to protect your college kid should some kind of health crisis befall them.
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