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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.

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Healthcare Directive -When Can Parent Legally Make an End-Of-Life Decision?

Posted on: December 12, 2019 | By: David Parker, Esq.
Friday at Erie County Medical Center, 21-year-old Damaire Gordon’s heart stopped beating. However, he died nearly two weeks before, at least according to doctors.
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Co-op and transferring to the kids

Homestead Laws - What Happens If a Spouse Is Not on the Deed?

Posted on: December 11, 2019 | By: David Parker, Esq.
I don’t understand why my husband, who had nothing to do with buying my home, can have any claim to it when I die. Is there any way my son can get my home, instead of my husband?
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5 biggest mistakes for beneficiaries

How Blended Families and Remarriage Can Address Finances and Inheritance Issues

Posted on: December 10, 2019 | By: David Parker, Esq.
When you remarry, you’re not only combining residences with your new spouse, you’re also merging your finances. If you have children, it may involve some financial-related stress.
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Can one spouse plan?

What If Only One Parent Is Willing to Plan?

Posted on: December 9, 2019 | By: David Parker, Esq.
My parents are in their 70s and they don’t have anything planned. I’ve spoken with them about the importance of planning.
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What Happened to Phil Spector

How Can Your Update Your Estate Plan?

Posted on: December 8, 2019 | By: David Parker, Esq.
Everyone’s heard the stories of celebrities who died without a proper estate plan in place. It’s been a hot topic in the last few years with Prince and Aretha Franklin serving as unfortunate faces of the phenomenon. However, it’s not just freewheeling entertainers.
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What doesn't Medicare cover.

Use this Executor Checklist.

Posted on: December 7, 2019 | By: David Parker, Esq.
One common trouble that many executors overlook: dispersing personal possessions that have little financial value but great sentimental value.
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Eddie Van Halen left money to a foundation

Do I Need POD Account for my Checking Account?

Posted on: November 30, 2019 | By: David Parker, Esq.
Checking accounts don't necessarily require account holders to name a beneficiary.
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Choose your fiduciary wisely.

What Will New Acts of Congress Mean for Stretch IRA s?

Posted on: November 29, 2019 | By: David Parker, Esq.
I am concerned about the SECURE and RESA acts currently being considered in Congress. If either of them passes, my children will lose the inherited stretch IRA ability and face a much higher tax bill upon my demise.
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What doesn't Medicare cover.

What Did Chicago PD Actress Marina Squerciati Receive from her Mom’s Boyfriend’s Will?

Posted on: November 28, 2019 | By: David Parker, Esq.
A new court filing designed to prevent the mistress of John R. Jakobson from testifying that he promised to leave Chicago PD actress Marina Squerciati some of his $100 million fortune, states the Wall Street mogul said she would get a 'big surprise' in his will.
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What doesn't Medicare cover.

Sharing Legal Documents and Passwords

Posted on: November 27, 2019 | By: David Parker, Esq.
Safe and shareable password storage is vital in today’s computerized world. The old solution–writing down passwords on paper set next to your keyboard–is not safe, not adequate and not shareable.
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