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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.

What wrong with the Presley estate?

Beneficiary Battle over Presley Estate Reveals Possible Problems in Estate Planning

Posted on: March 13, 2023 | By: David Parker, Esq.
A badly in debt woman dies leaving the proceeds of substantial insurance policies to her children only to have her trust contested by relatives who claim an amendment naming the children as beneficiaries is invalid with no witnesses, misspelled names, suspicious signatures and was never given to previous trustees for review as required by agreement. A long, expensive, and protracted legal battle likely is brewing.
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Co-op and transferring to the kids

Can a Power of Attorney Withdraw Money from Bank Account?

Posted on: March 8, 2023 | By: David Parker, Esq.
The first step in understanding whether a power of attorney can transfer money to themselves is to understand the different types of power of attorney.
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What Should Seniors Know before Remarrying?

Posted on: March 7, 2023 | By: David Parker, Esq.
As the calendar turned to 2023, many of us took a moment to think about resolutions. I want to lose 10 pounds. I want to read things that aren’t just about work. I want to learn how to play pickleball. Or maybe this year I’ll give a relationship another shot. Maybe I’ll even remarry.
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Calculating Required Minimum Distribution

What are Required Minimum Distribution Rules for 2023?

Posted on: March 6, 2023 | By: David Parker, Esq.
The SECURE 2.0 Act, which was signed into law in December 2022, changes the RMD rules for retirement savers beginning in 2023.
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Annuity Beneficiaries

What Should I Know About Annuity Beneficiaries?

Posted on: March 2, 2023 | By: David Parker, Esq.
An annuity beneficiary is a person or entity that receives the benefit of an annuity after the death of the annuity owner. Who you choose to be the beneficiary of your annuity depends on several factors, including the type of annuity you own and your financial goals for it.
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How does Portability work?

What Is Portability and When Should I Make a Portability Election?

Posted on: February 28, 2023 | By: David Parker, Esq.
A common financial mistake married farm couples make occurs when the first spouse dies, and the surviving spouse fails to ‘elect portability.’
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Calculating Required Minimum Distribution

Do I Need a Life Insurance Trust?

Posted on: February 27, 2023 | By: David Parker, Esq.
Created to own and control a life insurance policy or policies while the insured is alive, Irrevocable Life Insurance Trusts (ILITs) are tools that are sometimes recommended by estate and planners.
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Can a Dementia Patient Sign Legal Documents?

Posted on: February 25, 2023 | By: David Parker, Esq.
Families and their loved ones with dementia need to start advance care planning after receiving a diagnosis of dementia. Medical experts and attorneys can help your loved one to be involved in their care planning.
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Can a Revocable Trust Protect Assets from Creditors?

Posted on: February 24, 2023 | By: David Parker, Esq.
With a revocable trust, you are typically both the founder and the trustee. This means that you both create the trust and manage its assets and operations.
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Presley Estate Battle Heating Up

Posted on: February 23, 2023 | By: David Parker, Esq.
Priscilla Presley believes she should be in charge of daughter Lisa Marie Presley's estate. However, a legal document filed seven years ago suggests that wasn't what the singer-songwriter wanted should she die.
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