What’s Elder Law and Do I Need It?
Why Elder Law Is Necessary? In two words: baby boomers.
Why Should I Have a Living Will?
As a review of terms, a will is a legal document that specifies how a person’s estate should be handled only after that person’s death. A living will has nothing to do with how your “things” like property, money, jewelry, etc. are to be distributed. Unlike a will, it is, in fact, a document that comes into play while you’re still alive.
When Do I Need to Review My Will?
Whether you drew up a will recently or years ago, keep in mind it’s generally not something you can set and forget.
How Important is End-of-Life Planning?
Every individual needs some form of an estate plan to protect their wishes and loved ones. Your estate consists of everything that you own (aka your assets), and although death may seem far away, it is never too soon to get your estate plan in order.
Estate Planning Brings Peace of Mind
Estate planning is a key piece of a comprehensive retirement plan.
Is Estate Tax Exemption Going to Change?
The new numbers mean that wealthy taxpayers can transfer more to their heirs tax free during life—or at death. A lot more.
You May Need a ‘Durable’ Power of Attorney
A durable power will remain in force, if a court finds that you have become incompetent.
Now is the Right Time to Approach Parents about Estate Planning
If you have a parent over the age of, say, 65, thoughts about their future may have started to creep into your mind. However, because end-of-life planning can be emotional and overwhelming, it’s tempting to put these conversations off—and even more pleasing to avoid them altogether.
If You Become Incapacitated, a Power of Attorney Can Be a Lifesaver.
While we are alive, we can clearly make our own decisions. Unfortunately, one day you may find yourself in a situation where you cannot make your own decisions. Such situations occur most often in accidents, illnesses (physical or mental) and simple aging situations.
Talk to Parents about Estate Planning without Making It Awkward
Discussing estate planning with your parents is a conversation that can be difficult to have. You might not want to think about the day they are no longer here, or even consider that they might experience a decline in health that severely limits their ability to think clearly or communicate with you.
