Trusts are often key instruments in people's estate plans. They may use a trust to pass money onto a child with special needs or a family member with a history of substance abuse. Trusts can help people qualify for Medicaid or reduce their estate tax liability. If you...
Year: 2022
Do you need powers of attorney in your estate plan?
Everyone eventually dies, which is why a will or trust is an absolute necessity in your estate plan. However, not everyone experiences cognitive decline when they get older or a period of incapacitation at some point in their life. You never know if a head injury...
Southwood Case Reminds Us That Incapacity Planning is Important
As we age, our likelihood of mental incapacity increases. After all, our bodies and minds deteriorate as we age. Mental incapacity could result from dementia, stroke, brain injury, or other illness. What is mental incapacity and in what ways can you plan to be best...
Why a trustee may need to use their own discretion
As you set up a trust, you're probably focused on all the things the trust can accomplish and the specific ways that you can dictate how the money is used. If you just wanted to leave the money to your heir, you could do that without a trust. By using one, you're...
How do people in California plan to avoid probate court?
Probate court is almost synonymous with receiving an inheritance. When someone dies, the California probate courts often oversee the administration of their estate. The courts help prevent family members from overlooking financial obligations and executors from...
Frustrating elder care conflict? Mediation could help
Mediation is an excellent tool for resolving conflicts. Mediators are third-party individuals who listen to both or all sides of an argument and then help those involved work out a solution that is reasonable and agreeable. Mediators are there to offer constructive...
Elder financial abuse is more common than you think: Be ready
When your mom or dad is in long-term care, it is imperative that you take steps to protect them against financial abuse. Elders are at a particularly high risk of financial abuse because they may not be in a position to check their accounts or have the mental capacity...