Elder law is emerging as part of a holistic estate plan to address medical, financial and incapacity issues as we age. This article examines elder law, the increasing necessity for attorneys in this field and where it fits in estate planning.
Your business, likely your most valuable asset, deserves careful consideration within your estate plan to ensure a smooth transition of ownership and management in the event of incapacity or death.
Strategies like living trusts and irrevocable trusts help baby boomers protect wealth, support independence and senior residence preferences, and plan for Medicaid approval requirements.
The terms ‘revocable trust’ and ‘living trust’ are commonly heard in an estate-planning context. You may hear people say, ‘My house is in trust for my children,’ or something along those lines.
Estate planning might sound like something for wealthy people with huge beach houses and billions in the bank. However, the truth is that estate planning is something we all need to think about to protect ourselves and loved ones.
Learn the critical reasons why a will alone is insufficient for a comprehensive estate plan, and why incorporating trusts, beneficiary designations and incapacity planning is essential to ensure a seamless and protected transfer of your assets to your loved ones.
Establishing a family trust can be a crucial step in protecting your assets and ensuring the financial well-being of your family. If you’re considering setting up a family trust, contact an experienced estate planning attorney to explore your options and create a plan tailored to your needs.
Can a Limited Liability Company provide an effective way to protect your personal assets from the risks associated with running a business? In this post, we review the benefits of creating a clear legal separation between your personal and business assets.
