Compliments of Litherland, Kennedy & Associates, APC Written By: The American Academy of Estate Planning Attorneys A comprehensive estate plan should accomplish a number of estate planning goals and take into account various estate planning objectives. For example, planning for the possibility you will one day need to pay for long-term care (LTC), referred to as “Medicaid planning,” is a common estate planning goal. The overall objective of Medicaid/Medi-Cal planning is to reduce your … [Read more...] about The Role of Compensation in Estate and Medicaid/Medi-Cal Planning
The Importance of Advanced Directives – The Terri Schiavo Story
Compliments of The Litherland Law Firm Written By: The American Academy of Estate Planning Attorneys Theresa (Terri) Marie Schindler was born on December 3, 1963, to Mary and Robert Schindler. Terri grew up in Pennsylvania, and by all accounts had a normal, happy childhood. After graduating from high school, Terri enrolled in Bucks County Community College where she met Michael Schiavo in 1982. Two years later, on November 10, 1984, the two were married. When Terri’s parents moved to Florida … [Read more...] about The Importance of Advanced Directives – The Terri Schiavo Story
Women and Estate Planning – Debunking the Myths
Compliments of The Litherland Law Firm Written By: The American Academy of Estate Planning Attorneys In the 21st century, most of the issues surrounding equality of the sexes have been resolved. Women are no longer relegated solely to the role of housewife and mother and the younger generations generally accept the idea of gender equality without giving it much thought. Equality, however, does not preclude differences. One area where it is important for women to recognize those differences is … [Read more...] about Women and Estate Planning – Debunking the Myths
Protecting Your Assets from Medi-Cal Spend-Down Using a Special Trust
Compliments of The Litherland Law Firm Written By: The American Academy of Estate Planning Attorneys As the average life expectancy in America continues to increase, we can all anticipate living much longer than even our grandparents did. Living longer, however, also increases the odds that long-term care (LTC) will be needed at some point in your life. The cost of that care could threaten your retirement nest egg, as well as the family assets you hoped to pass down to future generations. … [Read more...] about Protecting Your Assets from Medi-Cal Spend-Down Using a Special Trust
What’s the Big Deal about Probate Avoidance?
Compliments of The Litherland Law Firm Written By: The American Academy of Estate Planning Attorneys Are you curious what Jacqueline Kennedy Onassis, universally regarded as one of the world’s most private women, did with her fortune? What about Anna Nicole Smith, Paul Newman, or even Elvis Presley – are you interested in knowing how they distributed their fortunes? Surprisingly, it is relatively easy to find out their dispositive plans for their estates because each one used a Last Will and … [Read more...] about What’s the Big Deal about Probate Avoidance?
What You Need to Know about Asset Protection
Compliments of The Litherland Law Firm Written By: The American Academy of Estate Planning Attorneys If you have worked hard to acquire a decent asset portfolio, shouldn’t you work equally as hard to protect those assets from potential threats? Of course, the answer to that question is “yes.” The problem is that most people do not realize the numerous and varied ways in which their assets might be at risk. Now is the time to learn more about those threats and about the asset protection … [Read more...] about What You Need to Know about Asset Protection
My Attorney Just Retired – What Now?
My Attorney Just Retired – What Now? Compliments of The Litherland Law Firm Written By: The American Academy of Estate Planning Attorneys Over your lifetime, you’ve established lasting relationships with professionals like dentists, doctors, and attorneys. It’s hard to think that these professionals who have always been available to help us may someday leave their firm or practice. They may retire, move to a new state or pass away. So if your estate planning attorney is no longer available, … [Read more...] about My Attorney Just Retired – What Now?
Combat Pay, Taxes, and Retirement – What Veterans Need to Know
Compliments of The Litherland Law Firm Written By: The American Academy of Estate Planning Attorneys If you are a member of the United States military, you likely have more important things on your mind than taxes and retirement planning. You should, however, take a moment to learn how your combat pay is treated by Uncle Sam to ensure you receive the benefits to which you are entitled for your service to your country. Military Compensation As a member of the military, your compensation is … [Read more...] about Combat Pay, Taxes, and Retirement – What Veterans Need to Know
Will Baby Boomers Have Anything Left to Pass Down?
Compliments of The Litherland Law Firm Written By: The American Academy of Estate Planning Attorneys The Baby Boomer generation – the largest generation in American history to date – is heading into retirement, but are they prepared? More importantly for their children and grandchildren – and possibly the economy as a whole – will there be anything left to bequeath when they pass away? It appears some Baby Boomers have planned for their retirement, however, estate planning is not a priority … [Read more...] about Will Baby Boomers Have Anything Left to Pass Down?
Medi-Cal Patient Share of Cost for Long-Term Care
Compliments of the Litherland Law Firm Written By: The American Academy of Estate Planning Attorneys For roughly half of all seniors living in nursing homes, or other long-term care (LTC) facilities, Medi-Cal is their only hope for assistance with the high cost of that care. Qualifying for Medi-Cal can be problematic for an applicant who failed to plan ahead. Once an applicant is approved for Medi-Cal they no longer have to worry about paying for their long-term care, right? Not exactly. Many … [Read more...] about Medi-Cal Patient Share of Cost for Long-Term Care
