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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 IRS portability rules

Estate Planning Considerations for Minor Children

Posted on: October 24, 2022 | By: David Parker, Esq.
When preparing estate planning documents, certain beneficiaries may need more protection than others. One particular class of beneficiaries that needs to be intentionally considered is minor children.
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Finding an Elder Law Attorney

How Can an Elder Law Attorney Help Me?

Posted on: October 21, 2022 | By: David Parker, Esq.
With an elder care lawyer by your side, handling issues associated with Medicaid and Medicare is easy.
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Can a BDIT save you on taxes?

How Does Probate Court Work?

Posted on: October 18, 2022 | By: David Parker, Esq.
Probate court is a segment of the judicial system that oversees the execution of wills as well as the handling of estates, conservatorships and guardianships.
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Co-op and transferring to the kids

What is a Life Estate ?

Posted on: October 12, 2022 | By: David Parker, Esq.
Chances are, your home is full to the brim with cherished memories of family and friends. But, as you get older, you may start wondering what exactly will happen to your home when you pass away. Fortunately, a life estate can take away the uncertainty of this thought by legally assigning an heir to receive your property without interference from court proceedings.
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What doesn't Medicare cover.

Estate Planning - Problems Created When No Will Is Available

Posted on: October 4, 2022 | By: David Parker, Esq.
People who have had a serious case of COVID-19 are 66% more likely to engage in estate planning, and 32% of adults under 35 said they wrote a will because of the pandemic.
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What happened to Pat Bowlen 's estate?

Pat Bowlen - How Not to Build a Family Football Dynasty

Posted on: October 3, 2022 | By: David Parker, Esq.
A decade before his death, the billionaire owner of the Denver Broncos consulted with attorneys about the orderly handover of the team after his death. He crafted a carefully delineated trust that his hand-picked trustees would oversee.
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What wrong with the Presley estate?

What’s a ‘Pot Trust’?

Posted on: September 28, 2022 | By: David Parker, Esq.
A pot trust, also referred to as a discretionary, sprinkling or common pot trust, is a type of trust that can be used by families to pass on assets. With this type of trust, minor children serve as beneficiaries with a trustee that oversees the management of trust assets. The trustee has discretionary power to decide how the trust funds are used to pay for the care and needs of beneficiaries.
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How to provide asset protection

Deathbed Gift, what are the taxes?

Posted on: September 26, 2022 | By: David Parker, Esq.
One sure-fire way your clients can reduce the size of their taxable estate is to give gifts to loved ones while they’re still alive. But when are ‘deathbed gifts’ considered to be complete for estate and gift tax purposes?
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5 biggest mistakes for beneficiaries

Can Unequal Distribution of Inheritances Be Fair?

Posted on: September 20, 2022 | By: David Parker, Esq.
The important thing to acknowledge is that the emotions behind the reasons are not trivial, but are important and should not be dismissed or minimized.
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The Most Common Myths about COVID Vaccine

How Can I Minimize My Probate Estate?

Posted on: September 19, 2022 | By: David Parker, Esq.
Estate planning is not just for the wealthy. Anyone with a bank account, house, car or other personal property should have a will.
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