Estate planning, elder law, family transitions, business planning – the legal issues that affect your family are always evolving. Jennifer writes regularly to keep you informed, educated, and empowered. Browse the latest articles below, or search by topic to find what you’re looking for.
The loss of a loved one is a difficult time, often made more stressful when one has to handle the affairs of the deceased. Certain tasks must be completed to administer the estate of the deceased. This may be a great undertaking or rather minimal work, depending upon the level of estate planning completed prior to death. First, it must be determined...
Business succession plans contemplate and instruct regarding any changes in future ownership and management of a business. Most business owners know they should think about succession planning, but few actually end up doing so. It is hard to think about not being in charge of the business you have built up, but a proper succession plan can ensure that your...
Today, blended families have become increasingly common, and many individuals have stepchildren. In situations where stepchildren have not been legally adopted, however, they do not have a legal right to an inheritance from a stepparent. For those who wish to leave stepchildren part of their estate, it is necessary to include them in an estate plan. There...
Many individuals are aware that a Will is one way to plan for the distribution of their assets after death. However, a comprehensive estate plan also considers other objectives such as asset protection. For this reason, it is essential to consider utilizing an Irrevocable Trust. This estate planning tool becomes effective during a person's lifetime, but it...
When deciding who will inherit your assets after you die, it is important to consider that you might outlive the beneficiary you choose. If you have added someone to your financial accounts to ensure that he or she receives this asset after you die, you might be concerned about what will happen should you outlive this person. What happens to a joint asset...
In spite of the vast amount of financial information that is currently available in the media and via the internet, many people either do not understand estate planning or underestimate its importance. Here's a look at the top five estate planning mistakes that need to be avoided. Not Having an Estate Plan The most common mistake is not having an estate...
Life insurance can be an integral part of an estate plan. Policies can be set up to be paid directly to the beneficiary, without the need to pass through the estate. Having a life insurance policy ensures that some assets will be liquid, so that debts and expenses can be paid quickly and easily without the need to dispose of assets. Beneficiaries can be...
When you are a child, your parents serve as your decision makers. They have ultimate say in where you go to school, what extracurricular activities you partake in and where, and how, you should be treated in the event of a medical emergency. While most parents continue to play a huge role in their children’s lives long after they reach adulthood, they lose...
For many people, retirement savings accounts are among the largest assets they have to bequeath to their children and grandchildren in their estate plans. Sadly, without professional and personally tailored advice about how best to include IRAs in one’s estate plan, there may be a failure to take advantage of techniques that will maximize the amount of...
Like most governmental benefit programs, there are many myths surrounding Medicaid and eligibility for benefits. One of the most common myths is the belief that only 50% of the funds in a jointly-owned bank account will be considered an asset for the purposes of calculating Medicaid eligibility. Medicaid is a needs-based program that is administered by the...
With such similar sounding names, many people mistake Medicare and Medicaid programs for one another, or presume the programs are as similar as their names. While both are government-run programs, there are many important differences. Medicare provides senior citizens, the disabled and the blind with medical benefits. Medicaid, on the other hand, provides...
This question presents a fairly common issue posed to estate planning attorneys. The solution is also pretty easy to address in your will, trust and other estate planning documents, including any guardianship appointment for your minor children. First, it is important to note that you should not delay establishing an estate plan pending the birth of a new...