06

Mar

Did You Know the State Has Already Given You an Estate Plan?

There are many misconceptions about what would happen with your assets if you died without a will. Some married couples think their spouse would get all their assets. Some think their spouse would only get something called an “elective share”, which is an amount that changes dep...

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Category: Estate Planning

06

Mar

Did You Know That the State Wrote a Prenuptial Agreement for You Before You Got Married?

With a well-drafted marital agreement, more assets might be protected from being spent down on nursing home care for the surviving spouse. Also, concerns about children from a previous marriage being disinherited, or other family inheritance concerns might be addressed. Both par...

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Categories: Estate Planning Trusts

06

Mar

May You Live In Interesting Times

2020 Year-End NewsletterBrad HenryYou might be aware that the above adage is thought to be a Chinese curse referring to times full of instability and uncertainty, and not as a type of blessing. Regardless of its origin, and regardless of whether it is a curse or a blessing, we...

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Categories: Estate Planning Firm

06

Mar

Preparing for Falling Federal Estate Tax Exemptions

At the end of the year, please watch this space for our 2021 outlook letter, which will report on adjustments and changes in federal estate tax exemptions, among other estate and tax planning strategies. However, as a lead up to that, we would be remiss in not addressing and prep...

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Categories: Estate Planning Trust Administration Trusts

06

Mar

A Coda to the Trilogy: The Role of the Living Will

In the last two posts, we looked at the Durable Power of Attorney and the Health Care Power of Attorney. In this last of the trilogy, we will look at the Living Will. Together, these three documents are often referred to as the client’s “ancillary documents,” in the sense that th...

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Category: Estate Planning

06

Mar

Future-Proofing: The Role of Health Care Power of Attorney

In our last post, we looked at the Durable Power of Attorney. We looked at its purpose, when it is effective and when it stops being effective. As we noted, the Durable Power of Attorney is a document where the client appoints someone else to help the client with his or her asse...

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Category: Estate Planning

06

Mar

Planning for the Unexpected: The Role of the Power of Attorney

We hear it quite often. “After I die, my power of attorney can keep paying my bills, right? ” The answer is, “No”, but the confusion is understandable. Our clients hear (or, read about) so many different roles when they visit us or attend our seminars. What is a fiduciary, a trust...

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Category: Estate Planning

06

Mar

Opportunity Zones: Are They the Right Opportunity for You?

What are Opportunity Zones? Opportunity Zones have attracted a lot of publicity since they were created in 2017. The Tax Cuts and Jobs Act created tax incentives designed to encourage investors with capital gains to reinvest those gains into low-income and undercapitalized commun...

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Category: Taxation

06

Mar

Don’t Lose the Family Home Due to Medicaid Estate Recovery.

Ever since the COVID-19 virus hit our state this spring, I have heard many instances of families facing the loss of the family home after a parent or grandparent has died while receiving Medicaid benefits to help pay the cost of a long term nursing home stay. This is especially...

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Categories: Elder Law Estate Planning Legal Advice Medicaid

06

Mar

Digital Estate Planning – How to Prepare your Online Assets for After Death

We live in a digital society. We present and store an ever-growing amount of our lives (social, financial, work) in digital form. The average person has over 200 accounts per email, up from 150 just three years ago. Family treasures like photos, home movies, and messages now pred...

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Category: Estate Planning