Planning for the inevitable and making sure that your financial resources are properly prepared for distribution to your heirs after your death is an important pragmatic endeavor. If you want to be comprehensively prepared, you must also consider some of the contingencies that may present themselves as you reach an advanced age. The elder law concern that we would like to look at here is the possibility that you may need living assistance in the future. It is not wise to cross your fingers and … [Read more...] about Elder Law Concerns: A Little Communication Goes a Long Way
Estate Planning: What About the Children?
When you look at the statistics with regard to estate planning preparedness, you find that less than half of the adults who are under the age of 50 have an estate plan in place. In fact, statistics show that the younger you are, the less likely it is that you will have executed the appropriate estate planning documents. This may seem like no cause for concern. Young adults are not going to worry about passing away because death only takes place among the old, right? Apparently this is the … [Read more...] about Estate Planning: What About the Children?
With Intelligent Planning, Medi-Cal Can Provide Solution
If you knew that you had an enormous expense that was awaiting you during your latter years, you would take it seriously and plan ahead. Yet, a very significant percentage of people will face just such an expense, and many of them do nothing to get ready for it. The expense that we are referring to is the bill that you will be presented with if you require a stay in a nursing home. You may think that it is unlikely that you will ever need such care, but in fact most senior citizens will need … [Read more...] about With Intelligent Planning, Medi-Cal Can Provide Solution
Who Will Administer Your Trust?
Many people shy away from some of the estate planning instruments that are available to them because they are under the impression that anything beyond a last Will is unnecessary. However, when you examine the anatomy of the basic revocable living trust, it is not as complicated as you may think. In fact, you may be able to save money in the long run by using a trust rather than a Will. This is because your estate must pass through probate if you use a Will, and there are significant costs … [Read more...] about Who Will Administer Your Trust?
Have Your Will Prepared by a Professional
People sometimes procrastinate, continuing to postpone something that they know they need. If you were to do this, the suggestion that the matter in question could be resolved with the click of a computer mouse could be an attractive one. However, when you hear about an offer that sounds too good to be true, you may want to take pause because it is unlikely that anyone has figured out a way to reinvent the wheel. This perspective is quite relevant with regard to the entities who want you to … [Read more...] about Have Your Will Prepared by a Professional
Final Arrangements: Pre-Planning is an Option
If you are a mature and serious minded individual, you probably want to cover all your bases for the well-being of your family members when making preparations for the future. With this in mind, you want to make sure that you do not overlook your final arrangements. People who do not leave behind instructions with regard to final arrangements leave their loved ones in a difficult situation. You need to let people know how you want to be laid to rest or they simply won't know exactly how to … [Read more...] about Final Arrangements: Pre-Planning is an Option
Asset Protection: Devise A Plan With Professional Guidance
Making sure that your assets are distributed to your loved ones in accordance with your wishes is clearly something that must be accomplished when you are planning your estate. But at the same time, it is a good idea to understand how everything is connected. Your overall financial plan should blend into your retirement plan, and ultimately inform the legacy that you will be leaving behind after you pass away. For this reason, it is wise to work within an intelligently conceived financial … [Read more...] about Asset Protection: Devise A Plan With Professional Guidance
Retirement Planning: Life Expectancy is a Relevant Factor
Some individuals go through life living in the moment without thinking about the long-term. However, looking ahead and making projections in a sober minded and pragmatic way is important if you want to be prepared for all of the eventualities of aging. This involves putting aside any reluctance to examine subjects that can be sensitive, and of course for many people mortality is one of these topics. In fact, passing on someday is a natural extension of life itself, and accepting this … [Read more...] about Retirement Planning: Life Expectancy is a Relevant Factor
Oldest Among Us Face Dementia Threat
The "oldest old" is a term that is used in the elder law community to describe individuals who are at least 85 years of age. It could be natural to assume that this would be a relatively small group. But surprisingly, we are told that this is the fastest-growing age demographic in the United States. Therefore, the fact is that you may well live into your mid-80s and perhaps significantly longer than that. With this in mind, you have to consider some of the contingencies that you may face if you … [Read more...] about Oldest Among Us Face Dementia Threat
Ray Charles Foundation Files Suit Against Seven of His Children
The legendary musical composer and performer Ray Charles created a foundation before he passed away that provides support to certain educational programs. As a musician, he knew that ongoing royalties would be coming in and he was in a position to help others even after he passed away. Ray Charles also took care of his children. According to an article that is appearing on the CNN website, Ray Charles provided each of his 12 children with a $500,000 trust. He did require them to agree to make … [Read more...] about Ray Charles Foundation Files Suit Against Seven of His Children
