When you execute estate planning documents such as a living trust you are taking care of one of the core responsibilities of adulthood. However, you must consider all the details if you want to make things simple and efficient for your family members after you pass away. Stating how you want your resources distributed is one thing, but you also must consider the human element, and this is where trust administration comes in. Certain actions must be taken in your behalf after your … [Read more...] about Trust Administration Examined
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Discuss Living Assistance With Aging Parents
People are living longer lives these days, and the numbers of the "oldest old" are growing. This is the term that is used in the geriatric community to describe individuals who are at least 85 years of age. When you reach an advanced age it is likely that you are going to require living assistance. Some people reside in nursing homes or assisted living communities full-time, and others receive some level of in-home care. And of course, there are those who are incapacitated to … [Read more...] about Discuss Living Assistance With Aging Parents
The Estate Tax & Your Net Worth
The new year is upon us, and you may want to view this renewal as a signal to consult with your estate planning attorney. There are a number of different reasons why your existing estate plan may be in need of certain revisions. Sudden exposure to the estate tax is one of them. Things do not stand still and this is something to keep in mind as it applies to your estate plan. Your original estate plan is going to be based on a snapshot of your life at the time of its creation. … [Read more...] about The Estate Tax & Your Net Worth
Estate Planning: Let the New Year Inspire You
Many people do some soul-searching when a new year begins. As you reflect on your life and your responsibilities you would do well to consider the stages of life that lie in the future. Everyone should have an estate plan in place, and this applies to adults of all ages. When there are people relying on you it is important to make sure that you take steps to provide for them should the unthinkable take place. No one knows what lies ahead, and tragedies do strike as we all … [Read more...] about Estate Planning: Let the New Year Inspire You
What Happens to Your IRA After You Die?
The cold hard fact of the matter is that retirement is not something that everyone is entitled to by virtue of contributing into the Social Security program. It is simply a matter of math. You can retire when and if you have the financial resources to do so, and it has nothing to do with celebrating a particular birthday. If you register on the Social Security Administration website you can access your personal statement at any time. This will tell you what you can expect to receive … [Read more...] about What Happens to Your IRA After You Die?
Can You Apply for Social Security Online?
The Social Security program is important to seniors who are retiring. However, we must emphasize the fact that your benefit alone is probably not going to be enough to support the type of retirement that you may have always envisioned. If you want to devise a plan that includes Social Security but is not entirely dependent on it you would do well to speak with a local Indianapolis financial planning attorney who has a history guiding people toward the fruition of their long-term … [Read more...] about Can You Apply for Social Security Online?
Estate Planning on the Practical Level
Executing legally binding documents with the assistance of a good estate planning lawyer is definitely a large part of what estate planning is all about. But in addition to the legal side of things you must also take practical matters into account if you want to leave behind a turnkey situation for your family. If you use a last will to direct your future asset transfers you're going to need an executor to actually handle the hands-on tasks. This individual is going to require … [Read more...] about Estate Planning on the Practical Level
Should Unsellable Sculpture Be Subject to Estate Tax?
The estate tax is very controversial in some quarters, and those who decry the tax often mention the fact that it is an instance of double taxation. You pay taxes all of your life on your income, and whatever you have left over at the time of your passing is the after-tax remainder. The critics ask why this after-tax remainder should be taxed again. The above makes sense, but the death tax is a fact of life at the present time regardless of how you feel about it. To get an idea about just … [Read more...] about Should Unsellable Sculpture Be Subject to Estate Tax?
Larry Hagman Left Valuable Property Behind
Fans of the classic television series Dallas certainly remember Larry Hagman well. He played the memorable character J.R. Ewing, the man that viewers loved to hate. We lost Larry Hagman on November 23. He had been battling throat cancer and was being treated at the Medical City Dallas Hospital in Dallas, so ironically he passed away in the city that he is so intimately connected with via his work as an actor. According to reports the estate of Larry Hagman includes some … [Read more...] about Larry Hagman Left Valuable Property Behind
Elder Law Report Explains Medicaid Planning
People who are serious about preparing for the future should certainly consider the matter of long-term care. There are some misconceptions out there about the Medicare program. Some individuals go forward living in the moment without actually learning all the details. Sometimes they find out some disturbing facts when it is too late to react. Medicare will not pay for an extended stay in a nursing home or an assisted living community. And if you are thinking that you probably … [Read more...] about Elder Law Report Explains Medicaid Planning
