It is best to see a practical picture when you are making preparations for the inevitable. Looking at it from a general perspective estate planning is a matter of common sense. You have to ask yourself what needs to be done and then engage the professional expertise that is necessary to make these things happen after you pass away. Executing a last will is one of the options that you have when you are stating your wishes in writing. If you do use a last will rather than a … [Read more...] about Probate Lawyer Can Guide Executor
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How Does Work Impact Social Security Benefits?
As studies continually show that a significant percentage of baby boomers are not financially prepared for retirement many people are coming to the realization that they will have to continue to work when they become senior citizens. With this in mind retirement planning lawyers are often asked questions regarding how earning a paycheck may impact your Social Security benefits. To address the question you must first understand when you become eligible for Social Security. The age at … [Read more...] about How Does Work Impact Social Security Benefits?
Intestacy Can Yield Unintended Consequences
A commonly asked question in the field of estate planning involves intestacy. What happens to your financial resources if you die without having executed a last Will or any other type of estate planning documents that direct the transfer of your assets? The answer is that the administration of your estate will be supervised by the probate court. There are intestacy rules of succession, and these will be utilized to determine who assumes ownership of your assets. Your closest … [Read more...] about Intestacy Can Yield Unintended Consequences
Spiraling Nursing Home Costs Raise Serious Questions
As the baby boomer generation is reaching retirement age millions of people are asking questions about elder law issues. One of these is the matter of long-term care and how you are supposed to go about handling these expenses. Once you attain senior citizen status your life expectancy is going to exceed 80 years. People who reach an advanced age often require living assistance, and this can involve full-time residence in a nursing home or assisted living community. When you … [Read more...] about Spiraling Nursing Home Costs Raise Serious Questions
Retirees: Beware of Property Tax Liens
Retirement planning involves doing some careful calculations. You don't want to work with ballpark figures because you may well be quite vulnerable financially during your twilight years. It is very likely that you will not be in a position to go out looking for a new career opportunity should you find yourself in financial need when you are 75 years of age or older. With the above having been stated you should be very cognizant of the impact that property taxes may have on your … [Read more...] about Retirees: Beware of Property Tax Liens
Hemsley of "Jeffersons" Fame Passes; Estate Being Challenged
Indianapolis estate planning attorneys often talk about the possibility of an estate being held up in probate for an extended period of time. This takes place when estate challenges arise, and they are more common than you may think. Even families who are under the impression that they have everything arranged properly can experience some unpleasant surprises later on. The above is applicable to the case of the estate of the deceased actor Sherman Hemsley. This talented man was … [Read more...] about Hemsley of "Jeffersons" Fame Passes; Estate Being Challenged
QPRT: Necessary in 2013?
In an estate planning context the acronym QPRT stands for a qualified personal residence trust. These instruments can be utilized to reduce the taxable value of your home as you are transferring it to a beneficiary. When you consider the fact that your home is in fact considered to be part of your estate by the Internal Revenue Service, a lot of people will be exposed to the estate tax in 2013 when the exclusion goes down to just $1 million. If your home is worth half of this or perhaps … [Read more...] about QPRT: Necessary in 2013?
One More Reason to Avoid Probate
In the field of estate planning probate avoidance strategies are often implemented. Why would you want to avoid probate? There are two primary reasons that most people would point out first. The process involves the probate court that is local to the deceased supervising the administration of the estate. Depending on the complexity of the individual case in question it can take months or even years for the process of probate to run its course. This is a pretty big deal to … [Read more...] about One More Reason to Avoid Probate
Legacy Planning: Share Your Wisdom on a Blog
Legacy planning involves leaving behind things that will last long after you are gone. Aside from financial resources perhaps the best thing that you can offer your loved ones is your wisdom gained through personal experiences. Now that we live in the age of the Internet a unique opportunity to do this exists. By tapping into resources that are provided by sites like WordPress.org you can create your own blog for free. Many people are not aware of just how easy it is to have … [Read more...] about Legacy Planning: Share Your Wisdom on a Blog
Some Clarity Regarding Wills
Some individuals who are of relatively ordinary means automatically think that they should be using a last Will to arrange for the transfer of assets to their loved ones after they pass away. However, while it is true that you can certainly go this route it is not your only choice, and there are some good reasons to consider other options. A popular alternative to a last Will as a vehicle of asset transfer is a revocable living trust. These instruments are thought of by many to be a … [Read more...] about Some Clarity Regarding Wills
