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Jun
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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Jun
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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Jun
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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Jun
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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Jun
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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Jun
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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Jun
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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Jun
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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Jun
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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Jun
Coronavirus and Your IRA
On March 27, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) became law. Among the most impactful tax changes found in the $2 trillion stimulus bill are the provisions affecting retirement accounts. Retirees do not need to take Required Minimum Distributions (...
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