Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education,American Academy of Estate Planning Attorneys, Inc.This is the second
Helping Families Preserve Their Wealth and Legacy
Litherland, Kennedy & Associates
Seminars
Attend a free seminar to learn how to protect your assets while providing for your loved ones
Upcoming Seminars
Insightful Articles
A wealth of information covering estate planning, elder law and elder care
Learn More
Request a Consultation
Our clients appreciate the hard work and personal service they receive from our team
Contact NowESTATE PLANNING SERVICE
Estate planning is the creation of a definite plan for managing your wealth while you’re alive and distributing it after your death. These assets may be owned by you separately or jointly with others.
Estate planning is the preservation and the distribution of your assets, both during your life and upon your death. It is accomplishing your personal and family goals and easing the management of your financial and legal affairs, as well as minimizing taxes if your estate is large enough for taxes to be of concern.
When we talk about an estate, we mean all assets of any value that you own, including real property, business interests, investments, insurance proceeds, personal property and even your personal effects. An “estate plan,” generally, refers to the means by which your estate is passed on to your loved ones on your death. Estate planning can be accomplished through a variety of methods, including:
Elder Law and Medi-Cal Services
Elder Law involves planning for the complex health care, long-term care, and other issues facing elderly and disabled individuals and their families. Studies show that we stand a 40 percent chance of needing long-term care at least once before we die. Therefore, everyone should take into account that at some point residency in a nursing home or an assisted living facility may be needed.
However, the substantial cost of nursing home care for an incapacitated person can wipe away a family’s nest egg and the inheritance planned for surviving family members. The primary alternative to privately paying the nursing home is Medicaid.
See Larger Map Get Directions