A Power of Attorney is among the most frequently used of all estate planning documents, due predominantly to the fact that a Power of Attorney (POA) can help accomplish such a wide range of estate planning goals. The pervasive nature of POAs, however, also means that they are frequently misused and abused. Given the nature and purpose of a POA, executing the wrong type of Power of Attorney can be a costly mistake. To help prevent you from making just such a mistake, the Middlesex estate planning … [Read more...] about Which Type of Power of Attorney Is Right for Me?
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What Type of Life Insurance Do I Need?
For the vast majority of people, at least one life insurance policy is included in their estate plan. While life insurance can be a valuable estate planning tool, the key to getting the most out of your life insurance policy is knowing which type of insurance is right for you. Toward that end, the estate planning attorney's at Augulis Law Firm explain how to make the most of your life insurance. Understanding Which Type of Life Insurance You Need Life insurance is not all the same. The … [Read more...] about What Type of Life Insurance Do I Need?
Medicaid Attorneys Explain How a Pre-Paid Funeral Contract Can Help
As both your assets and your family grow, you will need to review and revise your estate plan to ensure that it reflects your current needs and objectives. One component that most people will want to add to their estate plan as they get older is Medicaid planning. Another important addition to your estate plan is funeral planning. The attorneys at Augulis Law Firm explain how adding a pre-paid funeral contract to your estate plan can actually help with both your funeral planning and your … [Read more...] about Medicaid Attorneys Explain How a Pre-Paid Funeral Contract Can Help
What Is a QTIP Trust?
The desire to provide for loved ones after you are gone is probably at the top of your list of estate planning goals. If you are part of a blended family, that seemingly simple goal becomes infinitely more difficult to achieve. Your estate planning attorney may recommend a variety of tools and strategies that can help accomplish your goal, including the use of a Qualified Terminable Interest Property, or QTIP, trust. A trust attorney explains how a QTIP trust works so that you can decide if one … [Read more...] about What Is a QTIP Trust?
How Would You Feel about a Robot Caregiver in the Future?
The number of older Americans has grown significantly in recent years and experts tell us it will more than double from the current 46 million to over 98 million by 2060. Given the fact that we are already struggling to provide care to the number of elderly individuals that need it now, concerns about who will care for the elderly in the future seem warranted. One idea that appears to be gaining momentum is robot caregivers. Yes, even the field of healthcare is taking advantage of the leaps in … [Read more...] about How Would You Feel about a Robot Caregiver in the Future?
How Can a QDOT Trust Protect My Spouse?
Mixed-Nativity Marriages in the U.S. American has long been referred to as a melting pot, and with good reason. According to the U.S. Census Bureau, 11.4 million married-couple households, or 21 percent of all married-couple households in America in 2011, had at least one spouse born in another country. About 13 percent (7.3 million) of households had two foreign-born spouses, and 7 percent (4.1 million) had one native-born and one foreign-born spouse. Of the couples with one native-born … [Read more...] about How Can a QDOT Trust Protect My Spouse?
If I’m the Executor Do I Need to Provide an Estate Accounting?
Are you serving as the Executor of the estate of a recently deceased loved one? If so, you may already know how complex and complicated the probate of an estate can be. At some point during the process, you may be asked to provide an estate accounting. If this is the first time you have served as an Executor, you may not know what an estate accounting entails. With that in mind, a Warren probate attorney at Augulis Law Firm explains what is involved in an estate accounting. Probate Basics When … [Read more...] about If I’m the Executor Do I Need to Provide an Estate Accounting?
The Right Trustee Is Crucial to the Success of Your Trust
If you are among the many people who choose to include a trust in their estate plan, you will need to appoint someone to be the Trustee of the trust you create. Choosing the right Trustee is extremely important. In fact, the Trustee is often the key to the success (or failure) of a trust. To illustrate the importance of appointing the right Trustee, the trust attorneys at Augulis Law Firm discuss how the wrong Trustee can damage a trust. Trust Basics A trust is a legal relationship where … [Read more...] about The Right Trustee Is Crucial to the Success of Your Trust
Actors Receive Bequests From “Friend”
Exactly what the definition of a "friend" is may vary from person to person. Most individuals would say that you can't be friends with someone that you have never met (Manti Te'o and Lennay Kekua notwithstanding). Whatever your opinions on the matter may be, a man who passed away in Illinois last summer left behind everything that he owned to a pair of individuals that he considered to be his friends though he had never met them in person. He did see them frequently on the television … [Read more...] about Actors Receive Bequests From “Friend”
Preparing for Your Consultation with an Estate Planning Lawyer
If you have finally decided to sit down with an experienced estate planning attorney to get started on your estate plan, you have made a wise choice. As you undoubtedly realize, a well thought out estate plan can protect you, your assets, and your loved ones throughout the course of your lifetime and beyond. If you have never worked on an estate plan before, however, it can be a little intimidating to think about doing so. You may not be sure what to expect from your initial consultation with … [Read more...] about Preparing for Your Consultation with an Estate Planning Lawyer
