Powers of Attorney are part of even the simplest estate plan. A Power of Attorney allows your Agent to act for you. There are Powers of Attorney for financial matters and also those for health care. While reviewing your estate plan, it’s important to consider if you need to update either of these powers. Read on to learn more. … [Read more...] about Updating Your Plan: Powers of Attorney
As a caregiver, you take great pride in helping a loved one. And while you’re happy to do so, there’s no denying the stress it can put on your life. In addition to your own schedule, which often includes work and caring for your immediate family, you have many responsibilities as a caretaker. Rather than run yourself ragged, it’s important to take a step back and care for yourself too. There are many places you can turn for relief such as: Other family members and friends Long-term … [Read more...] about Take Care of Yourself When Caring for Another
It’s your hope that you never have to pay for long-term care, but it’s critical that you have a plan in place for doing so. This way, if the time does come, it’s one less thing for you to worry about. You’ll know exactly what you need to do. There are several ways to pay for long-term care, with these options among the most common: Medicaid: If you qualify for Medicaid, it’s typically the best way to pay for long-term care. Remember, Medicare doesn’t pay for long-term care. It’s only … [Read more...] about How Will You Pay for Long-Term Care?
Are you a business owner? Are you beginning to wonder what will happen to the company you love in the future? Are you also concerned about the here and now? It doesn’t matter if you’re in the process of starting a business or have been an owner for many years, there are benefits of business planning. Tip: it’s best to tackle planning when your company is in its infancy, as doing so allows you to get everything in order from day one. Here are some of the things to think about and … [Read more...] about Business Planning: Things You Need to Think About
The world is an unusual place. Things you’d never expect to happen sometimes actually do happen. There are natural disasters and unusual phenomenon. It’s important to prepare, not just for the unexpected but the eventual, as well. Read on to learn more. … [Read more...] about Preparing for the Unexpected…and the Eventual
DIY this and DIY that. In today’s day and age, the DIY craze is in full effect. And while this can be fun for some activities, such as home improvement projects, it’s something to steer clear of when estate planning. DIY estate planning sounds like a good idea for many reasons. Not only can it save you time, but you don’t have to consult with an attorney, thus saving yourself money. However, if you go down this path, you could find yourself making mistakes or facing challenges that you … [Read more...] about What’s Wrong with DIY Estate Planning?
The acronym HIPAA stands for the Health Insurance Portability and Accountability Act of 1996. In this post, we will explain why this piece of legislation is something to take into consideration when you are planning your estate. Advance Directives for Health Care Everyone is well aware of the fact that you have to facilitate postmortem asset transfers when you put your estate plan in place. A lot of people think this is the long and short of it, but a proper estate plan will also address … [Read more...] about What Is a HIPAA Release?
Estate planning and asset protection go together hand in hand. If you don’t have a solid asset protection strategy in place, there’s a chance some or all of your assets could be at risk in the future – and that’s not a risk you want to take. While there are many risks you can hedge against with the proper asset protection strategy, here are some of the most common: Disability or incapacity: For example, if you suffer a serious injury, it could impact your finances in a variety of ways. … [Read more...] about Yes, Asset Protection is Important
Currently, each person can give $11.58 million during life or at death. However, that amount will be cut in half by January 1, 2026. It may go down even sooner. Read on to learn why and how you should use it before you lose it. … [Read more...] about Use the Exclusion or Lose It
Some people are comfortable sharing their entire estate plan with their children. Others would rather keep this private, as they have concerns about these discussions causing more harm than good. When your children are young, you probably won’t think twice about this. They don’t know anything about estate planning and you don’t want to scare them. However, as you and your children age, you may have questions about whether it’s a good idea to discuss your estate plan with them. Here are a … [Read more...] about Should You Tell Your Children About Your Estate Plan?