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
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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
A Comfortable Future Requires Intelligent Planning
To be perfectly fair it can take some time for the typical individual to mature and see the big picture from a financial perspective. But in the end, excuses really aren't going to pay your bills. The truth of the matter is that most Americans who stick to a consistent career path have a comfortable retirement within their grasps. Yet, many people will never be able to retire because they did not take advance planning seriously. Some of those old sayings are still around … [Read more...] about A Comfortable Future Requires Intelligent Planning
Acceptance, Recognition, & Action
Statistics tell us that a surprising number of Americans are going through life without executing any estate planning documents. Less than half of adults have an estate plan in place, and one of the reasons for this is because of the fact that they are uncomfortable with the subject of death. How you feel about this emotionally or spiritually is a purely personal matter. But from a practical perspective, statistics indicate that no less than 100% of Americans will die someday. … [Read more...] about Acceptance, Recognition, & Action
Balancing Inheritances
Life insurance serves a number of purposes in the estate planning realm, and it is most commonly utilized as a vehicle of income replacement. Many younger adults fail to make preparations for the future because they feel as though this is something that only older people have to concern themselves with. But in fact, the children of senior citizens are probably going to be self-supporting. When you have dependent children estate planning is quite relevant, and making sure that you … [Read more...] about Balancing Inheritances
Take Action For The Benefit Of Your Loved Ones
Estate planning is something that you do for the benefit of those that you love, and there can be more to it than getting financial resources into their hands. It is useful to sit back and envision what they will be facing when you do in fact pass away in an immediate sense. When a loved one dies it is a shocking event even if you anticipated it because you can't quite wrap your head around how you will feel even when you know that it is inevitable. During a time like this you … [Read more...] about Take Action For The Benefit Of Your Loved Ones
