How to Pre-plan Your Funeral as Part of Your Estate Plan
As citizens of a culture that worships youth, most of us find it nearly impossible to admit our own mortality, much less make plans for that eventuality. Denial, however, offers no protection from the inevitable. As it turns out, we have far more to gain than to lose by sitting down in advance to plan for every contingency life may throw at us. To help you begin this important process, here is an essential item that should be on your list of...
Read More...What happens to sentimental items when you die?
Estate planning involves a lot of decisions around how you want your assets to be handled once you pass. While many people think of assets with a lot of financial value, like investment accounts and real estate, there are other assets that are just as valuable, and potentially even more important, that should be included in your estate plan.
Read More...The 4 Main Obstacles to Digital Estate Planning
IoT (Internet of Things) has become increasingly important to everyday life, and managing our digital assets is paramount. From smart home devices to online investments and bank accounts, we’ve gone way beyond using the internet to email family and social media to connect with friends.
Read More...Financial Abuse and Elder Fraud: Watch for the Signs
According to the National Council on Aging (NCOA), Americans lose between 2.6 and 36.5 billion dollars in assets and money each year to elder financial fraud and abuse. And although self-reported financial exploitation occurs at higher rates than all other types of elder abuse, the NCOA believes instances of elder financial fraud and abuse are likely under-reported.
Read More...How to Qualify for Medicaid: A Five Year Look-Back Without Penalties
Almost everyone will need long-term care at some point in their lives, so planning is essential. While we cannot predict the timing or level of care, we can take steps to prepare for an unexpected medical and financial crisis to help reduce the stress on ourselves and our family members. The cost of care continues to rise, but Medicaid planning can protect your assets, such as your home, hard-earned savings, retirement fund, or anything you wish...
Read More...Estate Planning Tips for Entrepreneurs
Among entrepreneurs, there are several characteristics that they all share: motivation, creativity, persuasiveness, risk tolerance, versatility, vision, innovation, communication and collaboration, flexibility, and decisiveness. These individuals create new businesses bearing most of the risks and reaping most of the rewards if successful. Because of their innate attributes, an estate planning process can be markedly different from others...
Read More...Tips on How to Avoid Mistakes With Beneficiaries
You are likely to have a beneficiary since it is a common designation in wills, trusts, and retirement accounts. A beneficiary is an individual (or legal entity) to receive the proceeds from a financial product or vehicle when the owner passes away. What begins as a simple directive in naming a beneficiary can suddenly become complex with life changes like divorce, death, wealth accumulation, threshold qualifications for government programs, etc.
Read More...Tips for Preventing Probate Litigation
Guardianship and conservatorship disputes, will and trust disputes, fights over family real estate, and disputes over true intentions of gifts can all result in probate litigation. The most successful approach to mitigating or avoiding probate litigation risk is carefully planning for the future. Comprehensive estate plans that are routinely updated, careful consideration and documentation of gifts, and protective measures in the event of...
Read More...Telehealth Coverage Has Been Scaled Back by Health Insurers
The coronavirus pandemic has put unprecedented strain on health systems and hospitals. There has been a need to increase and safeguard healthcare staff as well as non-COVID-19 patients, testing and treating infected patients, expanding critical care unit capacity, procuring personal protective equipment (PPE), and canceling non-emergency patient procedures. The American Hospital Association estimates that healthcare systems are losing an average...
Read More...Is Your Estate Plan Prepared for a Pandemic?
World Health Organization (WHO) named the novel coronavirus outbreak in 2019 on February 11, 2020. The coronavirus disease 2019 shortly after became known by its abbreviation, CO for corona, VI for a virus, D for disease, and 19 for the year of the outbreak; COVID-19. This virus will likely become a milder illness in time because of vaccinations, pandemic controls, and naturally occurring herd immunities. Still, COVID-19 will probably be with us...
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