As we start to reach the end of 2012, some much-anticipated annual statistics relevant to the elder law community are becoming available. We can now pass along the news about the release of the brand-new MetLife Mature Market Institute survey that provides a look at the current state of long-term care costs. Experts have stated that these costs are expected to continue to rise, and this year's survey corroborates that assessment. Nationally, the average cost for a private room in a nursing … [Read more...] about MetLife Releases Fresh Long-Term Care Statistics
Free California Living Trust Report Now Available
There is a lot of questionable information that circulates on the Internet about estate planning, and certain misconceptions can arise. We have noticed that this is especially true when it comes to living trusts. As a response, we have created an informative report to share with you, free of charge. To download your free report, follow this link and complete the brief form that you see off to the right so we can send you access to the information: California Living Trust Report One of the … [Read more...] about Free California Living Trust Report Now Available
Nursing Home Contracts: Proceed With Caution
It is always a good idea to consult with a local San Jose elder law attorney before you enter into a contract with a nursing home. This is not to imply that there is generally any unscrupulous intent. It is simply a matter of knowing exactly what you are signing. With the above in mind, there was recently a relevant court case (Cook Willow Health Center v. Judy Andrien) decided in the state of Connecticut. A nursing home was seeking compensation for an unpaid balance, and they cited an … [Read more...] about Nursing Home Contracts: Proceed With Caution
Healthy Seniors, Don’t Overlook Potential Assisted Living Expenses
When you feel completely healthy, you may have a hard time wrapping your head around the possibility of not being in the same condition at some point in the future. This can enter into the equation when you are planning ahead for your retirement years and the twilight years that inevitably follow. Those who have lived healthy lifestyles may assume that they are never going to need living assistance. After all, when you make the right choices over a number of decades, you should receive some … [Read more...] about Healthy Seniors, Don’t Overlook Potential Assisted Living Expenses
Estate Planning Information for Grandparents
Grandparents who want to provide for their grandchildren and are in possession of resources that exceed the unified gift/estate tax exclusion amount have some options. One possibility would be to start a trust for the benefit of a grandchild. If you want to set aside resources without being subject to the gift tax, you could give gifts in trust equaling as much as $13,000 per year without incurring any gift tax liability. An option that is available to you if you have minor grandchildren would … [Read more...] about Estate Planning Information for Grandparents
Take Action to Obtain Your California Estate Planning Report
As you mature, you may start to take the matter of estate planning more seriously than you did as a younger person. Many people start to look for information as they come to the realization that planning ahead for the well-being of their families is indeed important. However, you should ideally have an estate plan in place from the time you first become a responsible and self-supporting adult. Estate planning is truly essential for people of all ages. You can become more motivated if you have … [Read more...] about Take Action to Obtain Your California Estate Planning Report
Obtain Legal Advice Prior to Remarriage
We have all heard the statistic that approximately half of marriages end in divorce. However, the majority of second and third marriages do not last and this is something to consider when you are planning your estate. When you decide to remarry, it is a good idea to obtain legal advice. Many people who enter into second or third marriages have been able to accumulate significant financial resources. You are taking quite a leap of faith if you do not enter into a prenuptial agreement before … [Read more...] about Obtain Legal Advice Prior to Remarriage
Use Caution When Including Person With Special Needs
Part of the process of inheritance planning will involve deciding who you would like to name to receive your estate assets. However, it is also important to consider the methods that you will use to arrange for the transfer of assets to the people who are on your list. If you just give direct inheritances to everyone that you want to include, you could be doing some family members a disservice. There are those who are really not ready to handle a large influx of financial resources, and some … [Read more...] about Use Caution When Including Person With Special Needs
A CRUT May Be a Viable Solution
There are certain advanced estate planning tools that enable individuals to satisfy multiple objectives at the same time. One of these is the charitable remainder unitrust or CRUT. Many people would like to leave something behind to charity after they pass away. There are a number of different ways to do this, and you can explore all of your options by setting up a consultation with a good estate planning lawyer. When you speak to an attorney, you will learn about charitable remainder … [Read more...] about A CRUT May Be a Viable Solution
Comprehensive Planning Includes Postmortem Action Plan
You must have a postmortem action plan if you want to make comprehensive preparations for the inevitable. While it is important to position your assets optimally and execute the appropriate estate planning documents, you must also consider the hands-on tasks that must be completed to make your final wishes a reality. When you explain your situation to your attorney, he or she will gain an understanding of your financial position and make recommendations with regard to possible tax efficiency … [Read more...] about Comprehensive Planning Includes Postmortem Action Plan
