Baby Boomers and those who came before, referred to as Traditionalists or the Silent Generation, have different estate planning needs compared to Millennials and Gen Xers. Gen Xers and Millennials are often concerned with planning for the care of their children while...
A recent case out of Texas is calling attention to the need for family members to better ensure their loved ones are safe at long-term care facilities. The case involves an individual that gained access to long-term care units and allegedly murdered inhabitants. The...
Families with a high net worth may use a Family Limited Partnership (FLP) as part of their estate plan. This legal structure can be designed to provide three distinct advantages: Tax savings. The owner can have an FLP structured to reduce tax obligations. For example,...
The “Queen of Soul” died last August. At the time of her passing, her heirs were not aware of an estate plan. Now, months after her passing, handwritten wills were recently discovered in her home.Aretha Franklin’s estate is likely worth millions. The...
The current legal market is shifting from one where a single individual can handle almost any legal issue to a market that requires specialization. Much like the medical field, these days it is common for each attorney to have a specialty. As a result, just like you...
Estate planning plays a vital role in protecting your loved ones and your legacy. Unfortunately, common estate planning myths can push people down the wrong path when it comes to protecting their wishes and their family.Myth: Not everyone needs an estate planOne of...
An elder law attorney is a legal professional that specializes in the issues that arise as we age. These issues can include the transfer of the power to make financial or health care related decisions and planning for long-term care needs. Two specific benefits an...
A second marriage brings unique estate planning needs. Although some may view the need to discuss an estate plan as a relatively morbid topic, the discussion can prompt a conversation about future goals. Five specific documents to discuss when outlining these goals...
Whenever money is involved, odds are high the Internal Revenue Service (IRS) is also involved. One example involving estate planning is the use of trusts. Trusts are essentially legal tools that govern the distribution of certain funds. This piece will discuss how the...
An irrevocable trust is a legal tool that can help shelter funds from creditors. A wisely structured trust can help to better ensure an intended heir not only receives their inheritance but also gets an inheritance that is protected from attempts by creditors to claim...
