Revocable trusts are an effective way to avoid probate and provide for asset management in the event of incapacity as well as achieve many other goals, including tax, long-term care, and asset-protection planning.
Congress has passed a spending bill that contains major changes to retirement plans. The bipartisan legislation is designed to provide more incentives to save for retirement, but it may require workers to rethink some of their planning.
Establishing a trust is one of the most common and effective ways of protecting assets. And when even higher levels of asset protection are necessary, an irrevocable trust may be the best option. But an irrevocable trust needs to be considered carefully and drafted so it is legally airtight. This is where legal assistance is […]
When you consult with an elder law attorney, it is best to come prepared. Most people facing an elder law issue will need to make some important decisions that will greatly affect their lives and their families. Whether this means planning for their own old age, or ensuring their assets are taken care of after […]
A new poll reveals that the majority of Americans agree with eliminating the estate tax, which suggests that they want to lower taxes on the wealthy. The same poll also suggests, however, that the majority of Americans want to increase taxes on the rich in a different way. The remaining Republican Presidential candidates have offered […]
A new study reveals that women can still expect to live longer than men on average; however, women suffer from more disabilities in those extra years. For some time, estate planning for older married couples has been based in part on the assumption that the wife would outlive her husband. While it does not happen […]
Farmers who have more than one child have an estate planning dilemma. The most valuable property they have is almost always the land and the farm equipment. If all of the children are not interested in farming, it can be difficult to give them all an equitable inheritance. Farmers with multiple children have two seemingly […]
When to apply for Social Security benefits is an important decision that requires careful consideration, but it is also important to know how to apply. It is very easy to find advice about when you should apply for Social Security benefits. Information is available all over the Internet. Some of it is good advice. Some […]
A controversial decision by author Harper Lee’s estate has many people wondering if ‘To Kill a Mockingbird’ will continue to be assigned reading in school. Reading Harper Lee’s anti-segregation novel To Kill a Mockingbird has become something of an American rite of passage. It is one of the most commonly assigned books in schools. Many […]
Americans are familiar with prenuptial agreements that detail how a couple's property will be divided in the event of a divorce or death. In most states spouses can reach similar agreements after they get married. The Wall Street Journal reports that the use of postnuptial agreements is increasing in "Why Postnuptial Agreements Are on the […]