Estate Planning

Home ownership is the American Dream. People work hard all their lives to own a home, and it is often their most valuable and significant possession. So, when health begins to fail and the need for long-term care arises, we often get this fear-filled question from our clients: will they take away my home?

Many parents are uncomfortable talking to their kids about their wealth.  Talking about how much money or property you have is usually viewed as taboo.

The Medicaid program is designed to help pay for that staggering cost. However, before a couple can be eligible, the rules require that the assets of both spouses are counted to pay for the care of one, even if only one spouse needs the care.

As Gen Xers enter into their 40s and 50s, it is time for them to become active in the creation and execution of their retirement planning.

If you are a part of the millennial generation or younger, there is a steady path you can pick that can over time make you a self-made millionaire.

Assisted living rent can vary from $2,000 to $5,000 monthly. Depending on what type of care your loved one needs, assisted living can be the most affordable solution when compared to a nursing home ($5,000 to $10,000 or more per month) or long-term in-home care.

A significant portion of Americans are saving nothing for retirement and very little in their day to day lives. While the unemployment rate is low and wages are seeing an increase the American worker is not saving enough of their income which will inevitably lead to shortfalls of operational cash during an unexpected crisis and in their retirement years further down the road.

Senior living faces many issues. Solutions to these problems are consistently being discussed by the government and other stakeholders. However, many of these issues are difficult and costly to solve. For example, staffing and regulation of facilities are problems consistently faced by senior living. Fraud and abuse are also issues that seem to plague this industry. Let’s take a closer look at these issues.

Before you retire or leave full-time employment for other pursuits, consider the impacts of your decision on the financial well being of your future. The transition to your next phase of life, whether full or semi-retirement, adventure seeking, or family driven, requires thoughtful planning to avoid needless surprises that can mean the difference between financial success or financial stress. Whether you have been planning your retirement for decades or days, contemplating these six key retirement elements can help you avoid unexpected problems.

We, lawyers, prepare powers-of-attorney documents so that when our clients can no longer act for themselves, the documents will convey on other trusted people the authority to act on our clients’ behalf.

 But when it comes to actually using those documents at the time of a health-care crisis, clear and powerful documents are just the beginning. The decision-points can (and must) be put down on paper in advance, but when it comes to end-of-life situations, the clarity on which we lawyers thrive can be very hard to find.

 Sitting in her lawyer’s office, the client may have been quite certain about health-care decisions. She does not want her life prolonged by a battery of aggressive treatments, where these would not preserve her quality of life.

When we first meet with clients to prepare an estate plan, often, one of the primary goals is to avoid probate. Many people do not know, however, that even if you successfully prepare to avoid probate in your home state, without the proper planning, any property you own outside of your state may be subject to a specific type of probate proceeding called ancillary probate. To help better inform you about this type of probate proceeding, let us share with you a few common questions we receive from clients about ancillary probate.

What is ancillary probate?

Ancillary probate is a special type of probate proceeding that may be required in addition to a state probate proceeding. This is true if you own real property or other assets that are attached in a state outside of your home state.
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