Compliments of The Augulis Law Firm, Written By: The American Academy of Estate Planning Attorneys Every year, about 6,000 babies with Down syndrome are born in the United States. Over their lifetimes, many of these children will contend with serious medical conditions including heart defects, gastrointestinal problems, visual or hearing impairment, dementia, and early-onset Alzheimer’s disease. As a result, the costs associated with Down syndrome can be astronomical and many of those with the … [Read more...] about Special Needs Trusts for Children with Down Syndrome

Compliments of The Augulis Law Firm, Written By: The American Academy of Estate Planning Attorneys Although considering the event of one’s own death can be uncomfortable, it’s imperative to start planning ahead and set up an estate plan that will guarantee security for your loved ones. Meeting with a qualified estate planning attorney will ensure you’re informed about the choices available to you, and help relieve some stress knowing your affairs will be in order after your death. For some, … [Read more...] about Common Estate Planning Terms You’ll Want To Know

Compliments of Augulis Law Firm, Written By: The American Academy of Estate Planning Attorneys In the 21st century, most of the issues surrounding equality of the sexes have been resolved. Women are no longer relegated solely to the role of housewife and mother and the younger generations generally accept the idea of gender equality without giving it much thought. Equality, however, does not preclude differences. One area where it is important for women to recognize those differences is in the … [Read more...] about Women and Estate Planning – Debunking the Myths

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys A comprehensive estate plan should accomplish a number of estate planning goals and take into account various estate planning objectives. For example, planning for the possibility you will one day need to pay for long-term care (LTC), referred to as “Medicaid planning,” is a common estate planning goal. The overall objective of Medicaid planning is to reduce your “countable resources” so you will be … [Read more...] about The Role of Compensation in Estate and Medicaid Planning

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys As the world gets smaller, it is increasingly common for people to own assets in a variety of places, both within the United States and internationally. Whether your property is a generations-old family tract in an ancestral homeland, or a new vacation home in a tropical setting, owning assets outside the United States raises a number of estate planning questions. Who gets your property when you pass away? … [Read more...] about Estate Planning Across Borders

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys “There is a magic in that little world, home; it is a mystic circle that surrounds comforts and virtues never known beyond its hallowed limits.” - Robert Southey If you are like many Americans, your home is not only an emotionally valuable asset for your family, it is also among your most valuable financial assets. Did you know that, in addition to increasing your net worth, your home can provide a variety of … [Read more...] about Home: Your Most Valuable Investment

Compliments of Our Law Firm, By: The American Academy of Estate Planning Attorneys Joint tenancy is a popular way for two or more individuals to hold title to real estate or other property. When one joint tenant dies, that person’s interest in the property automatically re-vests in the surviving owners. People often use joint tenancy as a shortcut for avoiding probate, without realizing that this method of property ownership can create more problems than it solves. Lack of … [Read more...] about The Problem With Joint Tenancy

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Theresa (Terri) Marie Schindler was born on December 3, 1963, to Mary and Robert Schindler. Terri grew up in Pennsylvania, and by all accounts had a normal, happy childhood. After graduating from high school, Terri enrolled in Bucks County Community College where she met Michael Schiavo in 1982. Two years later, on November 10, 1984, the two were married. When Terri’s parents moved to Florida in 1986, … [Read more...] about The Importance of Advanced Directives – The Terri Schiavo Story

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys As the average life expectancy in America continues to increase, we can all anticipate living much longer than even our grandparents did. Living longer, however, also increases the odds that long-term care (LTC) will be needed at some point in your life. The cost of that care could threaten your retirement nest egg, as well as the family assets you hoped to pass down to future generations. Medicaid can … [Read more...] about Protecting Your Assets from Medicaid Spend-Down Using a Special Trust

Compliments of The Augulis Law Firm Written By: The American Academy of Estate Planning Attorneys Even if you have never needed to rely on Medicaid before to help with your health care costs, the odds are good you will need to as a senior. Why? The answer can be found in the high cost of long-term care (LTC). At an average yearly cost of over $80,000 nationwide, and an average length of stay of 2.5 years, it should come as no surprise that over half of all seniors in need of LTC rely on … [Read more...] about Medicaid Asset Transfer Rules – When Gifting Can Cost You