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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.

Don't make these estate planning mistakes

No Will? What Happens Now Can Be a Horror Show

Posted on: April 11, 2022 | By: David Parker, Esq.
It's hard for a family to recuperate when the patriarchs and matriarchs have gone to glory, leaving a battle for who will carry the family's leadership role and manage the family's transition of wealth.
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What's your end of life plan?

What Helps Create the Best End Of Life Plan?

Posted on: April 8, 2022 | By: David Parker, Esq.
A new study explores how specialized care providers can navigate conversations about end-of-life care and help patients optimize their quality of life and mitigate suffering.
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What's new with Tricare?

What Should I Know about Tricare When I Retire?

Posted on: April 7, 2022 | By: David Parker, Esq.
’Plan for what is difficult while it is easy’ is an apt quote regarding healthcare in general and Tricare in particular. If you’re transitioning out of the military, it’s important to know your responsibilities and form a strategy well in advance of your separation date.
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How can a Discretionary Trust help me?

Should I have a Discretionary Trust in My Estate Plan?

Posted on: April 6, 2022 | By: David Parker, Esq.
A discretionary trust is a type of trust that can be established on behalf of one or more beneficiaries.
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A Special Needs Trust can protect your child.

What Is Best Way to Spend ABLE Account Money?

Posted on: April 5, 2022 | By: David Parker, Esq.
ABLE accounts are a way for people with disabilities to save and spend money, while protecting their access to public benefits.
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How does Portability work?

How Does Gift Tax Exclusion Work?

Posted on: April 4, 2022 | By: David Parker, Esq.
In 2022, the annual exclusion for Federal Gift Taxes increased to $16,000 per person per year. Although there is near-universal acceptance of the importance of gifting, there are several issues you should consider before making any gifts.
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Talk to your parents about their estate plan

How Do I Talk to My Parents About Estate Planning?

Posted on: March 31, 2022 | By: David Parker, Esq.
If you have a parent over the age of, say, 65, thoughts about their future may have started to creep into your mind. But because end-of-life planning can be emotional and overwhelming, it’s tempting to put these conversations off — and even more pleasing to avoid them altogether. If there’s a lesson to be learned from the pandemic, however, it’s that waiting until the last minute to prepare is seldom a good idea.
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Estate planning for physicians

Is It Important for Physicians to Have an Estate Plan?

Posted on: March 30, 2022 | By: David Parker, Esq.
Given their salaries and the chances of getting sued, physicians should strongly consider estate planning early in their careers.
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Estate Planning is one part of Elder Law

How Do I Protect Myself and My Children in a Second Marriage?

Posted on: March 29, 2022 | By: David Parker, Esq.
Who’s going to inherit on the death of one of the re-marrieds? Will this be the surviving spouse? If so, where will those inherited monies go on the second-to-die’s death?
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New RMD rules

What Can I Do Instead of a Stretch IRA?

Posted on: March 28, 2022 | By: David Parker, Esq.
Leaving behind a huge tax bill for your heirs with the stretch IRA scuttled? Here are some ways around it as lawmakers consider an updated SECURE Act.
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