A lot of people like to roll up their sleeves and do things for themselves these days, and DIY projects can indeed be fun and rewarding. The trick is to know where to draw the line because you could think you're saving money by tackling a task when in fact in the long run it winds up costing you more than it saves. This is definitely true when it comes to estate planning. There are entities out there that will sell you generic legal documents. They say that you can plan your … [Read more...] about A Tailor Made Plan
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Making Provisions For Man's Best Friend
If you are like a lot of Americans, you may have a loyal four-legged friend by your side, and indeed dogs are fantastic companions. In the eyes of your dog you are the most important person in the world and there is no denying that it is a good feeling to be held in such high esteem, even if it is coming from a canine point of view. All kidding aside, pets are obviously valuable to people of all ages but owning a dog can be especially good for senior citizens. It is not uncommon … [Read more...] about Making Provisions For Man's Best Friend
What Is A CRUT?
In the field of estate planning there are a lot of acronyms tossed about that can be kind of confusing to the uninitiated. We like to highlight one of these from time to time in an effort to demystify things, and with that in mind we will take a look at the CRUT. In an estate planning context the acronym CRUT stands for a charitable remainder unitrust. These vehicles are utilized to provide individuals with tax efficiency while satisfying their philanthropic urges in the … [Read more...] about What Is A CRUT?
Long-Term Business Planning
Long-term financial planning is important for all serious minded individuals. If you want to be able to provide your children with opportunities for higher education and then subsequently have the resources that you need to retire in comfort you have to plan ahead intelligently. If you just go forward groping in the dark step-by-step you may find yourself in a difficult position later on in your life. Along the way you may not be able to provide for your children in the manner … [Read more...] about Long-Term Business Planning
Directing Assets Into A Trust
Most people are going to have to choose between a will and a trust when they are making estate plans, and there are some significant advantages that go along with opting for a revocable living trust. When you use a revocable living trust you can enable the transfer of assets to your loved ones outside of the process of probate. Probate is a legal process during which the probate court that is local to the deceased supervises the administration of the estate. The actual hands-on … [Read more...] about Directing Assets Into A Trust
The Implications Of Dying Intestate
In spite of the fact that estate planning is one of the foundational responsibilities that go along with adulthood, only around half of Americans have any type of an estate plan in place. The term that is utilized to describe the condition of dying without a will or any other type of estate planning document directing the transfer of your assets is "intestacy." If you were to pass away intestate, the probate court would be charged with the responsibility of sorting out your final … [Read more...] about The Implications Of Dying Intestate
New Long-Term Care Figures Raise Eyebrows
Indianapolis Elder Law attorneys have been keeping a close eye on long-term care costs and the news is not good. Every year the MetLife Mature Market Institute provides detailed information about the current state of long-term care costs. Since we are now in 2012, they have the 2011 figures and they have made them available to the public via their annual survey. Industry experts have predicted that long-term care costs will continually rise into the foreseeable future, and these 2011 … [Read more...] about New Long-Term Care Figures Raise Eyebrows
Addressing A Holistic Picture
Estate Planning can be seen as a purely financial endeavor that directs the transfer of assets to your loved ones after you pass away. But if you start to think about the future as you are executing a plan, you may start to consider the holistic picture. People don't usually pass away suddenly when they are in good health, although this does of course happen when individuals are involved in fatal accidents. The natural process of aging brings certain realities along with it, and … [Read more...] about Addressing A Holistic Picture
Is Your Estate Plan Up To Date?
When you get the oil in your car changed, they place a little sticker in the corner of the windshield to remind you of when you need to bring the car back in for another lube. When you plan your estate initially there is no such sticker attached to your documents, but you should recognize the fact that periodic updates are very likely to be necessary. With it being a new year, you may want to consider an annual estate plan review. As we all know, there are things that happen in … [Read more...] about Is Your Estate Plan Up To Date?
Community Spouse Medicaid Resource Limit Increased
A lot of people are amazed when they find out how expensive long-term care is these days. If you calculate the average annual cost for a private room in a nursing home coupled with the average length of stay the reality is that you may be looking at an expense that exceeds $200,000 toward the end of your life. This is obviously going to be difficult for a lot of people to handle out-of-pocket, and Medicare does not pay for long-term care. An alternative that exists would be to … [Read more...] about Community Spouse Medicaid Resource Limit Increased
