Although a Last Will and Testament remains the most common estate planning document, a trust agreement isn’t far behind in terms of popularity. One reason trusts have become so common within the average estate plan is that there are numerous different types of trusts that are each geared to help achieve a specific estate planning goal. One thing all trusts have in common, however, is the need for a Trustee to administer the trust. If you recently learned that someone named you as the Trustee of … [Read more...]
Do I Need a Medicaid Planning Attorney?
You may have heard people talking about the need to consult with a Medicaid planning attorney and wondered why you would need one. After all, you have never before relied on Medicaid to cover your health care expenses. What you need to know, however, is that there is a very good chance that you (or a spouse) will need to rely on Medicaid at some point during your retirement years because of the high cost of long-term care. A Medicaid planning attorney will help you plan for the possibility that … [Read more...]
Can an Incapacity Planning Attorney Help Me Plan for the Possibility of Alzheimer’s?
Just as most people would prefer not to have to spend much time contemplating their own death, most people would also prefer not to envision a life suffering from Alzheimer’s disease. If you have avoided thinking about the possibility, you are hardly alone; however, from an estate planning perspective, it is imperative that you do consider the possibility. If you develop Alzheimer’s in the future, someone else will need to take over control of your assets and make important decisions for you … [Read more...]
Effective Asset Protection and Your Trust Attorney
While nearly everyone understands the important of accumulating assets over the course of a lifetime of work, fewer grasp the importance of protecting those hard-won assets. However, the protection of assets is every bit as important as earning them and managing them over time. Without that protection, your assets could fall prey to future unanticipated creditors, lawsuits, or even bankruptcy. The good news is that there are strategies and tools that can help you to secure those assets. To … [Read more...]
Will My Heirs Receive Their Inheritances Shortly After I Pass?
You would do well to take every angle into consideration when you are putting your estate plan together. If you act in an informed manner, your heirs will receive their bequests shortly after you pass away. Conversely, if you do not take the right steps, a waiting game may ensue after you are gone Estate Administration Process You may be under the impression that the legal device called a last will is the simplest and most efficient estate planning tool. Trusts may seem like something that … [Read more...]
Why Would I Need an Elder Law Attorney?
Elder law is one of the newest specialty areas of the law that has emerged in recent years. Although elder law is a relatively new area of law, it is fast becoming a much sought after and necessary area of the law. The reason for this is due, in large part, to the exploding elderly population in the United States. As the Baby Boomers move into their retirement years, the sheer number of older Americans has created a need for attorneys who specialize in legal issues that impact the elderly. … [Read more...]
What Is a Trust and How Can It Enhance My Estate Plan?
Estate planning can be an exciting process, but there’s no denying that it can be complex and confusing too. For many people who lack familiarity with estate planning techniques, various tools like powers of attorney and trusts can often seem like foreign concepts. Still, those tools can often mean the difference between an inefficient plan and one that can resolve a wide variety of different planning needs. And since the trust is one of the most important tools in any estate planning arsenal, … [Read more...]
New Jersey Retirement: Is Your Planning Complete?
Most of our adult life is spent focusing on the work we need to do to provide a life for ourselves and our families. All too often, though, that’s all we end up doing. Too few of us either don’t have to opportunity to prepare for a sound retirement, or we just fail to take the steps needed to address those future needs. Experts suggest that more than half of all American adults have less than $10,000 in retirement funds available right now. When it comes to New Jersey retirement concerns, … [Read more...]
Why You Need Help from a Living Trust Attorney
We’ve come a long way when it comes to estate planning – so far, in fact, that it’s sometimes difficult to remember that there was a time when things like trusts were solely the province of the richest families. Today, many ordinary families just like yours use trusts to accomplish a variety of estate planning goals. The pendulum has swung so far, however, that we’ve reached the point where do-it-yourself living trusts are being marketed online as an alternative to those crafted by attorneys. … [Read more...]
Five Reasons You Should Avoid the DIY Will
If there’s one thing that most Americans seem to share, it’s a desire to save money whenever and wherever possible. We love sales and discounts in all their many forms. That might help to explain why so many Americans can be so easily tempted by ads promising low-cost estate planning solutions. Untold numbers of Americans have flocked to these inexpensive tools, as they’re often marketed as a way to save hundreds of dollars in legal expenses. Few people ever stop to wonder why they’re so … [Read more...]
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