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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 RMD rules

Coronavirus Stimulus Allows Retirees to Tap Funds Early, With Little or No Penalties

Posted on: May 4, 2020 | By: David Parker, Esq.
Lawmakers in Washington are making it easier for Americans struggling with the fallout from the coronavirus to draw on the trillions of dollars in their 401(k)s and other retirement accounts.
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What was in Ray Liotta 's Will

What’s the Difference Between an Inter Vivos Trust and a Testamentary Trust ?

Posted on: May 1, 2020 | By: David Parker, Esq.
Estate planning offers tools to establish and maintain effective control over cash, investments and real estate assets during a person's lifetime and upon death. While wills and beneficiary designations work well to ensure that an estate plan meets the unique needs of the individual establishing the plan, each has its limits.
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Is there a step-up-in-basis for real estate?

Transferring a Home to Your Kids Is Never Good Estate Planning

Posted on: April 29, 2020 | By: David Parker, Esq.
Adding an adult child to your house deed, or giving them the home outright, might seem like a smart thing to do. It usually isn’t.
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What doesn't Medicare cover.

Requests for Estate Plans Reflect Fears about Coronavirus

Posted on: April 28, 2020 | By: David Parker, Esq.
Lawyers are being bombarded with requests to write wills, update estate plans and prepare health surrogate or "pull the plug" documents, as people are confronted by the realization that they could be diagnosed with COVID-19 and dead within days.
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Can a BDIT save you on taxes?

You Can Complete Your Estate Plan During the Coronavirus Quarantine

Posted on: April 24, 2020 | By: David Parker, Esq.
If you are quarantined or under a lockdown and can't get to a notary, how can you get your will, trust and other documents executed? Don't give up. There are ways to get it done without leaving home.
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What Happened to Phil Spector

Extended Deadlines - Massive Changes to RMDs from Stimulus Plan

Posted on: April 22, 2020 | By: David Parker, Esq.
Here are the highlights of the most recent tax changes found in the $2 trillion coronavirus relief bill, which the Senate has approved, and the House recently passed.
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An elder law attorney can help with paying for a nursing home

Do Not Intubate Living Wills, Health Care Proxy and Coronavirus .

Posted on: April 16, 2020 | By: David Parker, Esq.
Do Not Intubate Living Wills, Health Care Proxy and Coronavirus. In the age of Coronavirus and Covid-19, many people are asking if they should get or update their advance care directives. However, many people that have them haven't thought about how they need to change in the present emergency. Consider this, the standard Living Will […]
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What doesn't Medicare cover.

Coronavirus Legal Advice - If Not Now, When? It is the Time for Estate Planning

Posted on: April 16, 2020 | By: David Parker, Esq.
Estate planning attorneys are getting mobbed with questions. Here is some timely advice from three attorneys on what families and business owners should be doing to prepare, in case the unimaginable happens.
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Legal Guardian and conservatorship

Hey Dad, Can I Get an Advance on the Inheritance ?

Posted on: April 8, 2020 | By: David Parker, Esq.
What is equal treatment at time of death can be disputed among the children, when some children have received substantially more in lifetime gifts than the others.
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Big COLA increase in 2023

The Coronavirus and Estate Planning

Posted on: April 7, 2020 | By: David Parker, Esq.
The rapidly evolving coronavirus (COVID-19) crisis is creating a plethora of unique estate planning and legal challenges across the globe, particularly given the volatility of the financial markets.
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