As committed elder law attorneys, we have been focusing on the elder financial abuse problem for numerous years. This is a problem that has traditionally existed in the shadows, so at one time, there wasn't much research to draw from. Back in 2011, we wrote about a compelling study that was conducted by the MetLife Mature Market Institute at that time. People have been drawing from the data ever since. The MetLife study estimated annual losses due to instances of elder financial abuse at … [Read more...] about Elder Financial Abuse Reaches Epidemic Proportions
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How Can a Landlord Protect Assets?
If you are a landlord, you may be concerned about lawsuits. People could get injured on property that you own, and you could be targeted. Clearly, this is a legitimate concern, because litigious types are always looking for vulnerabilities. One way to protect assets if you are a landlord would be to convey your property into family limited partnerships. First, we should explain the basic anatomy of a family limited partnership. If you establish and fund a family limited partnership, … [Read more...] about How Can a Landlord Protect Assets?
Estate Planning: A Look at the Consequences of Inaction
There are people who go through life without an estate plan, and there are various reasons for this inaction. Sometimes individuals assume that there are laws in place that will magically facilitate efficient asset transfers, regardless of the circumstances. In fact, this is simply not the case. Even if your situation is relatively simple and straightforward, it is unlikely that the outcome would be consistent with your true wishes if you die without any estate planning documents (this is the … [Read more...] about Estate Planning: A Look at the Consequences of Inaction
Can I Change My Living Trust Beneficiaries?
People sometimes fail to act when it comes to estate planning, because they are not entirely certain about the long-term circumstances that will come about as time goes on. They do not want to get locked into decisions that they made on a given day, and this is understandable. Most people are aware of the fact that they could create a new will if they decide to use a last will as an asset transfer vehicle. For this reason, they are reluctant to consider trust creation, because they are under … [Read more...] about Can I Change My Living Trust Beneficiaries?
Free Report: What Is Included In My Indiana Estate Plan
A living will is used to record your preferences with regard to the utilization of life-sustaining measures like feeding tubes, artificial hydration, and mechanical respiration. Another advance directive that is recommended is the durable power of attorney for health care or health care proxy. Every possible medical contingency will not be covered in the living will. To account for this, you can name someone to make medical decisions on your behalf through the execution of a durable power of … [Read more...] about Free Report: What Is Included In My Indiana Estate Plan
What Information Do I Need to Create My Estate Plan?
There are websites on the Internet that contend that anyone can create an estate plan using generic, boilerplate documents that they will sell you. In reality, there is a lot of information that you need to digest if you want to construct an estate plan that ideally suits your needs. Your financial status is going to be an important part of the equation. The federal estate tax is a factor for high net worth families, so you have to inventory your assets so that you know exactly where you … [Read more...] about What Information Do I Need to Create My Estate Plan?
How Can I Get a Maximum Social Security Benefit?
As estate planning attorneys, we also help people who are looking ahead toward their senior years, because the entire process is interconnected. Since we provide retirement planning assistance, we will look at Social Security benefits in this blog post. Retirement Credits When you work throughout your life, you pay self-employment or payroll taxes. These taxes go toward programs that will provide you with a bit of a safety net during your retirement years. Medicare is a source of health … [Read more...] about How Can I Get a Maximum Social Security Benefit?
How Can I Leave A Indiana Tax-Free Inheritance To My Spouse
How Can I Leave A Tax-Free Inheritance To My Spouse from Paul Kraft The death tax carries a robust rate that can significantly erode the wealth that you are passing along to your loved ones. Learn more about Indiana tax-free inheritance in this presentation. … [Read more...] about How Can I Leave A Indiana Tax-Free Inheritance To My Spouse
How Is My Last Will Handled After I Die?
People sometimes harbor misconceptions about last wills. It can seem as though the executor or personal representative that you name in the will can distribute inheritances quickly and easily after your passing when you state your final wishes in a last will. In reality, this is not the way that it works. The executor would be forced to admit the last will to probate, and the court would oversee the administration of the estate. We should point out the fact that a very small estate could … [Read more...] about How Is My Last Will Handled After I Die?
Free Report: What Is a Qualified Domestic Trust?
There are federal transfer taxes in the United States that can significantly erode your wealth as you are passing it on to your loved ones. These taxes carries a 40 percent maximum rate, and this is certainly an eye-catching figure. The good news is that there is an unlimited marital deduction. You can transfer unlimited assets to your spouse tax-free, as long as your spouse is an American citizen. If you are married to a foreign citizen, you could gain estate tax efficiency through the … [Read more...] about Free Report: What Is a Qualified Domestic Trust?
