You have several options when it comes to planning advanced directives for medical decisions that will have to be made on your behalf. You can plan for this contingency by writing down on paper how you would like to be medically treated if you cannot provide that...
Medicaid planning: When is it too late?
While it's best to prepare for long-term care in advance, sometimes this isn't possible or isn't considered until our later years. Medicaid eligibility in some states depends on several factors, but there are steps you can take now to ensure the money you've worked...
How do testamentary and living trusts compare?
Many individuals make the mistake of assuming that drafting a will is the most critical aspect of estate planning. While a will is undoubtedly an important part of the process, preparing a health care proxy, advanced directive, and financial power of attorney are also...
Understanding the differences between a power of attorney and health care proxy
Estate planning can be a problematic and multi-faceted undertaking. It requires an individual to make a number of difficult decisions regarding their finances as well as their future health care needs. Every individual situation is unique, and there is no...
Estate planning in New York
New York has strict regulations regarding estate planning. It is highly recommended to have a detailed estate plan to protect your assets. Understanding these regulations will help you better navigate the best course of action to ensure your assets are handled in the...
Do I need to include digital assets in my estate plan?
Digital assets are an important part of our everyday life. We have personal accounts like email, banking, social media, and cloud-based storage as well as business accounts like websites and blogs. These assets include pretty much anything we access online or using a...
The importance of Medicaid planning
When a person is 65 years of age or older and needs health care insurance assistance or cannot afford to pay for medical care at all, Medicaid is there to help. However, to be eligible, there are certain qualifications that a person must meet. Qualification for...
When to consider an irrevocable trust
The term "irrevocable trust" is sometimes used during estate planning; however, the exact definition of this term is not always clear. An irrevocable trust is a legal agreement that enables someone to transfer their assets to another person. This type of trust cannot...
Get your affairs in order: Here’s an estate plan checklist
An estate plan isn't for only the wealthy. Estate plans are for anyone who has family, medical wishes and assets they would like to see managed. Having your affairs in order before disaster strikes is no less than an act of kindness. Here is a checklist of what you...
How to choose the best executor of your estate
Once you are gone, one of the biggest decisions you make when estate planning is determining who to put in charge of the estate. The position of Executor is not something to take lightly and can be a hard decision when multiple children or other loved ones are...
