Authorization for Final Disposition

An authorization for final dispositions is a document that allows a person to designate who will be in charge of their body and funeral arrangements upon his or her death. In addition, the document provides family members and loved ones with specific instructions regarding a person’s wishes for their funeral and body disposition. The document […]

Do Not Use Funds from an Irrevocable Trust to Cover the Cost of an Assisted Living Facility

Oftentimes, individuals will put the proceeds from the sale of a house into an irrevocable trust. When the time comes, an elderly person may move into an assisted living facility, which can be expensive. A trustee of an irrevocable trust may look to use the funds in an irrevocable trust to cover the cost of […]

Protect Your Financial Future with a Comprehensive Estate Plan

Regardless of how many assets you own, estate planning is an important component of your overall financial plan. A properly expected estate plan can help to secure a financial legacy for loved ones and express medical decisions if you are unable to do so. Estate planning can be complex, so it is important to consult […]

Transfers of Assets Affect Medicaid

If a Medicaid applicant is married and his or her spouse resides in the primary residence, then the home is an exempt resource. The spouse is entitled to keep resources of $120,900. The applicant must have less than $2,000. Any additional resources above these limits must go toward the cost of his or her nursing […]

Utilizing An In Terrorem Provision In A Last Will And Testament

An in terrorem is a Latin word meaning “in fear”. It refers to a provision within a Decedent’s Will to disinherit a beneficiary if he or she challenges the Will in any way. Instead of a beneficiary receiving what he or she may have been entitled to within the Will, the individual will receive nothing, […]

Having Assets in Multiple States

Today, it is common for retirees to have residences in multiple states. Some choose to keep his or her family home and acquire a small home in Florida to visit during the cold months. When a person who owns residences or financial accounts in two different states passes, an ancillary probate proceeding must be commenced […]

It Is Best To Have An Attorney Execute A Health Care Proxy

A health care proxy is a signed document that gives an agent or agents the power to make medical decisions for someone in the event that he or she becomes incapacitated. Oftentimes, many people ask whether or not an attorney is required to sign a health care proxy for it to be valid. The answer […]

Placing Property In A Revocable Trust

A common estate planning mistake occurs when individuals own or acquire property outside of a trust. This can lead to unintended tax consequences and exposing property to probate or creditors.

Placing property in a revocable trust provides benefits such as allowing assets to avoid the probate process. In addition, by placing property in a revocable […]

Adding A Prenuptial or Postnuptial Agreement To An Estate Plan

Many people who are looking to tie the knot believe that mentioning a prenuptial agreement eliminates the romance. However, like any business relationship, a prenuptial or even a postnuptial agreement provide a range of benefits and security to both parties involved in the marriage.

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Estate Plans Should Account for Digital Assets

Whether it’s through social media, online bank accounts, PayPal or email, today many people are storing their personal information and finances online. When an individual passes away, his or her online accounts will continue to remain active. For this reason, it is important to account for digital assets in an estate plan. By defining what […]

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