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Estate Planning and Elder Law Blog

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Category: Estate Planning

Estate planning services refer to the process of managing and distributing one's assets and properties after their death, in a way that ensures the smooth transfer of wealth to the intended beneficiaries while minimizing taxes and other expenses. Estate planning services may include drafting legal documents such as wills, trusts, and powers of attorney, as well as providing guidance and advice on strategies for asset protection and wealth transfer. These services may be provided by lawyers, financial advisors, or other professionals with expertise in estate planning. Effective estate planning can help individuals achieve their long-term financial goals and provide peace of mind for themselves and their loved ones.

New rules for Hearing Aids .

What Is a Marital Trust ?

Posted on: July 27, 2022 | By: David Parker, Esq.
If you’re married, you may be wondering what happens to your assets once you or your spouse passes. The answer to that question depends on various factors, including whether or not you have a marital trust.
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New RMD rules

401(k) Does Potential IRS Change Have an Impact on Estate Plan?

Posted on: July 26, 2022 | By: David Parker, Esq.
The IRS is weighing a change that could leave your heirs poorer than you might hope.
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How does Portability work?

Do I Need a Spendthrift Trust ?

Posted on: July 25, 2022 | By: David Parker, Esq.
A spendthrift trust allows you to leave funds to a beneficiary without giving them full control over those funds.
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What doesn't Medicare cover.

What Is an ‘Ethical Will’?

Posted on: July 19, 2022 | By: David Parker, Esq.
Ethical wills first began to appear in the 1990s, usually in the form of a “legacy letter” written just before a person died and then bolted onto their main will as an appendix.
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Unmarried Couples and estate planning

Unmarried Couples - What Happens If My Partner Dies?

Posted on: July 18, 2022 | By: David Parker, Esq.
All couples can now take advantage of tax benefits for married partners, pass assets from one spouse to another with ease and qualify for Social Security spousal and survivor benefits. However, not all couples want to get married.
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What are Non-Traditional Options for Long-Term Care Insurance?

Posted on: July 15, 2022 | By: David Parker, Esq.
There are other types of policies and investments that you can use to get long-term care benefits.
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How Do I Set Up a Funeral Trust?

Posted on: July 14, 2022 | By: David Parker, Esq.
Setting up a funeral trust requires that a consumer take reasonable precautions and understand the process.
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What Common Mistakes are Made with Living Trusts?

Posted on: July 13, 2022 | By: David Parker, Esq.
Of course, just because you have a living trust doesn't mean you're all set. Here are a few of the most common mistakes people make with their living trusts.
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New RMD rules

RMD Formula Changes for First Time in 20 Years

Posted on: July 12, 2022 | By: David Parker, Esq.
The IRS has good news for retirees: you can now keep more money in your tax-deferred retirement accounts thanks to lower required minimum distributions (RMDs).
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A Special Needs Trust can protect your child.

How Do Special Needs Trusts Work?

Posted on: July 11, 2022 | By: David Parker, Esq.
Special needs trusts can help fund quality-of-life improvements for the beneficiary, such as a phone, a trip or a private room in a group care facility.
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