The Ins and Outs of Estate Sales

Following the death of a family member, you may find yourself needing to sort through many possessions accumulated over the deceased’s lifetime. An estate sale is one way to distribute those items that you do not want or need quickly and efficiently. While selling someone’s furniture, jewelry, artwork, antiques, and other belongings yourself can mean […]

What Not to Include in Your Will

If you are considering preparing a will, this is a great first step in planning for the future. After reflecting on the basics, such as whom you want to be in charge of administering your wishes, you may wonder if there’s anything you shouldn’t include in your will. The answer is yes. There are some […]

If You Haven’t Been Regularly Reviewing Your Estate Plan, When Should You?

How frequently you should review your estate plan depends on how old you are and whether there has been a significant change in your circumstances. If you are over age 60, for example, and you haven’t updated your estate plan in a decade or two, it’s almost certain that you need to update your documents. […]

Five Ways People Make Mistakes in Their Estate Plans

You spend the first half of your adult life trying to achieve financial security and the second half of your life trying to maintain it.  This adage is why many people spend substantial time and effort maximizing their legacy goals in their estate plan, ensuring their wishes come to pass. Your life’s work and ability […]

How Much Should a Trustee Be Compensated?

Serving as a trustee of a trust can be a huge responsibility, so trustees are entitled to compensation for their work. The amount of compensation depends on the type of trustee and the complexity of the trust. Depending on the trust, a trustee’s duties can include managing trust assets, making distributions to beneficiaries, paying taxes, […]

Why You May Need a Trust in Addition to a Power of Attorney

While everyone should have a durable power of attorney that appoints someone to act for them if they become incapacitated, in some circumstances it is not enough. In these cases, a revocable trust can help. A durable power of attorney allows you to appoint someone you trust to step in for you to handle financial […]

California Removing Asset Test for Medicaid Eligibility

California is making big changes to how it determines Medicaid eligibility for long-term care by eliminating the requirement that applicants have limited assets. While the rules apply only to California right now, other states may follow suit. Medicaid covers long-term care for the elderly and people with disabilities who qualify for coverage. To be eligible […]

Married Couples Need an Estate Plan

Don’t assume your estate will automatically go to your spouse when you die. If you don’t have an estate plan, your spouse may have to share your estate with other family members. If you die without an estate plan, the state will decide where your assets go. Each state has laws that determine what will […]

What is Long-Term Care and Who Provides It?

Long-term care is the care you need if you can’t perform daily activities on your own for an extended period of time. There are different ways that long-term care can be provided. Most long-term care involves assisting with basic personal needs rather than providing medical care. You are usually determined to need long-term care if […]

The Difference Between Elder Law and Estate Planning

Elder law and estate planning serve two different — but equally vital — functions. One main difference is that elder law is focused on preserving your assets during your lifetime and managing health care issues that arise or incapacity issues, while estate planning concentrates more on what happens to your assets after you die. Elder […]