In general, estate planning is a practice that requires forward thinking. However, sometimes estate planning must occur in the midst of a crisis.
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Recently, WHO revealed that the percentage of global citizens over 60 years will double from 12% to 22% between 2015 and 2050.
It’s true that if your child is on your deed as a joint tenant on your home, your home will not have to go through probate if your child survives you. At your death, your surviving child would immediately become the sole owner of your home without probate and with minimal transfer costs.
Reaching the point where you need to consider residential options for your mother can be overwhelming. Not only is it emotionally fraught, there are also financial and legal considerations.
Children and grandchildren motivate us to think about a will and life insurance. However, it is problematic to name minor children as beneficiaries.
For couples who face depleting their own assets, using a Medicaid-compliant annuity could be a way to preserve assets and still qualify for Medicaid.
A competent elder law or estate attorney can discuss and use, where appropriate, such provisions as the family exemption, benefits to prepaying inheritance tax, even where the tax return is not yet complete and a listing of itemized deductions.
Seeking a guardianship for a loved one is a decision that shouldn’t be taken lightly. Here’s how the process works.
Losing your spouse is a painful, confusing time, but add to that repeated calls from an aggressive debt collector and a bad situation suddenly can get even worse.
About 1.5 million Americans become widows and widowers in a normal year, but the pandemic has boosted that significantly. The National Center for Family and Marriage Research at Bowling Green State University estimates that about 380,000 of more than 700,000 people in the U.S. who have died from Covid were married.