|
AL Estate Planning & Elder Law Blog
Tuesday, October 5, 2021
1911.png) Estate planning is critical for anyone who wants to help ensure their wishes are respected in the event of temporary incapacitation or upon their death. Despite the important role estate planning plays in our lives, did you know less than 50% of Americans have an estate plan in place? This is a terrifying statistic when we know just how important making a plan is for your future, especially during the Covid-19 pandemic. None of us know what tomorrow might bring and having an estate plan that you develop with your estate planning attorney can provide security. Do you already have a plan in place? Don’t forget you may need to update it. In fact, when you regularly update what you have put in place with your attorney you can help ensure that security will continue. Read more . . .
Tuesday, August 17, 2021
 A prenuptial agreement is an agreement entered into between future spouses regarding ownership and distribution of their present and future assets. Have you thought of a prenuptial agreement as a plan for divorcing even before the marriage takes place? A prenuptial agreement, however, can be a very important legal tool for couples in certain situations, including in the context of estate planning.
A prenuptial agreement does not just set forth how assets will be distributed upon divorce, it may also address the distribution of assets upon a spouse’s death. Read more . . .
Tuesday, August 3, 2021
 Did you know that the average stay in an Alabama nursing home currently runs at $200 per day, $6000 per month and $72,000 per year? This cost can be crippling, and very few Alabama residents have long-term care insurance to cover the cost of a nursing home. Alabama seniors should plan for Read more . . .
Tuesday, July 20, 2021
9628.png) Dementia symptoms can vary day to day, which means it may not be easy to pinpoint when it is time for an aging parent to enter memory care. Did you know that worrying behavior, safety concerns, and caregiver burnout can be top signs that it is time for a memory care facility? Let us take a look at ten questions that can help you evaluate your family’s situation. Read more . . .
Tuesday, July 6, 2021
 Does your out of state move involve a to-do list a mile long? It often does. If you are moving out of state, does your checklist include updating your estate plan? It should. Let us discuss the key reasons why you need to update your estate plan when you move to a new state. Read more . . .
Tuesday, June 15, 2021
 Have you felt overwhelmed while trying to choose a senior living environment for yourself or someone you love? There are many different options, with a wide range of residence types, fee structures, and services provided. Two common categories of senior living environments are Assisted Living Facilities and Skilled Nursing Homes. Let us review six significant differences between them. Read more . . .
Tuesday, June 1, 2021
 Have you heard of the saying that the only thing certain in life is death and taxes? Did you know that not planning for death, or inheritance taxes, may leave your estate open to significant taxes, as high as forty percent of your estate? Let us review some estate planning tips to consider when you near the proposed tax limits.
Starting with a bit of good news, Alabama does not have an estate or death tax. This means that upon your passing, your estate will be subject to zero state estate tax. Read more . . .
Tuesday, May 18, 2021
 The Administration for Community Living encourages communities to celebrate National Older Americans Month every May. Did you know that, for 2021, the theme is “communities of strength” in recognition of all that older people have lived through in their lives and learned during that time? Particularly during the pandemic that overtook the past year, people often draw inward and may not stop to think about what their elder neighbors can teach them. It can be, however, more important than ever to make connections with older residents in our communities, both for them and for us. Let us take a look at four resources to help Read more . . .
Tuesday, May 4, 2021
 May is National Elder Law Month. Did you know that by the year 2030, all of the baby boomers will have reached the age of 65? With a burgeoning senior population, National Elder Law Month can be a great time to consider ways to care for aging seniors. This may not be a one-person job. Read more . . .
Tuesday, April 20, 2021
 Friday, April 16, 2021, is National Clean Out Your Medicine Cabinet Day. You may be ready to go in your own household, but what about your parents or other older loved ones? As we get older, we tend to accumulate more medicine for various illnesses or ongoing conditions. It can also become easier to forget what is in the cabinet. Read more . . .
Tuesday, April 6, 2021
 There may be many frequently discussed components of estate plans, including the division of assets from your home, to your bank accounts, to family heirlooms and of course, for the parents of minor children, designation of a guardian and assets for the children. Have you considered, however, how your four-legged or other beloved pets will be provided for? Let us discuss three reasons to consider a pet trust in your estate plan.
- A pet trust can help prevent your pet from being placed in a shelter. Unfortunately, when the disposition of a pet is not provided for in the owner’s estate plan, the pet may end up in a shelter with an unknown future. By creating a pet trust, as the owner, you can provide that your pet’s care be entrusted to a friend or family member, who has agreed to become your pet’s new owner, or you can designate a caretaker to be overseen by the trustee of your estate.
Read more . . .
|
|
|
|