For many people, philanthropy is an important part of their everyday life. If you are one of those people, your charity does not have to end when you are gone. On the contrary, with careful planning, your charitable gifting can continue long past the time of your death. For that to occur, you will need to work closely with an experienced estate planning attorney to incorporate charitable gifting strategies and tools into your estate plan.The Joy of GivingAre you someone for whom philanthropy … [Read more...]
Federal Gift and Estate Tax — Portability Explained
Creating a successful estate plan requires you to consider a number of factors and influences that will impact your plan. One of those factors is federal gift and estate taxes. All estates are potentially subject to federal gift and estate taxes at a 40 percent tax rate. Given the fact that your estate could lose almost 40 percent of its value to federal gift and estate taxes, it is imperative that you have a firm understanding of the tax and of the strategies used to reduce the impact the tax … [Read more...]
Londonderry Estate Planning Lawyers Remind You to Review Your Estate Plan
Surprisingly, over half of all Americans do not have an estate plan in place, despite acknowledging the importance of having one. If you are among the minority, and you have an estate plan in place, you can rest a little easier knowing that you, your assets, and your loved ones are protected. Do not, however, make the mistake of assuming that you are done with estate planning once you have a plan in place. On the contrary, creating an initial estate plan is only the beginning of successfully … [Read more...]
When Is It Too Late to Consult with a Medicaid Planning Attorney?
Most Americans recognize the need for estate planning, yet over half of them do not have an estate plan in place. The same can be said for the need to include Medicaid planning into a comprehensive estate plan. People generally acknowledge the need to incorporate Medicaid planning into their estate plan, but those same people frequently put off doing so – often until it is too late to benefit from many of the Medicaid planning tools and strategies. If you never got around to creating a Medicaid … [Read more...]
Andover Estate Planning Attorneys –When Is a Simple Will Not Enough?
When most people think about estate planning, they focus first on the creation and execution of a Last Will and Testament. This is certainly understandable as a Will often serves as the foundation for even the most complex estate plan. Conversely, a Will may also be the sum total of an estate plan when more complex tools and strategies are not needed. How do you know though when a simple Will is not enough? The best way to know if you need to incorporate additional tools and strategies into your … [Read more...]
Beverly Estate Planning Attorneys Suggest Things to Think about When Creating Your Estate Plan
If you are new to the concept of estate planning, it can seem a bit intimidating the first time around given all the various goals and objectives that are frequently rolled into an estate plan. The good news is that working with an experienced estate planning attorney will go a long way toward ensuring that your plan does accomplish all of those goals and objectives. Your estate planning attorney can also help explain the process and make you feel less intimidated. Before you even get to your … [Read more...]
How Can Inheritance Planning Help My Loved Ones?
Have you put off creating an estate plan because you didn’t think you really needed one yet? If so, you are not alone. Despite understanding the importance of inheritance planning, over half of all Americans do not have even a basic estate plan in place. Like you, most of them are under the impression that they don’t have a large enough estate yet to warrant an estate plan and/or that the cost of creating an estate plan isn’t justified. You don’t need to have a valuable estate though to benefit … [Read more...]
5 Things You Need to Know about Probate and Property
Probate is one of those things that you have probably heard of, but know very little about unless you have been through the probate of an estate at some point during your lifetime. Everyone, however, should have at least a basic understanding of the probate process for their own estate planning purposes. Because the primary purpose of probate is to distribute your estate assets after your death, you should understand the relationship between probate and property. To help you, consider the … [Read more...]
Beverly Elder Law Attorneys Explain Long Term Care Insurance
The longer you live, the better the odds become that you will need long-term care (LTC). If you failed to plan for the cost of that care, your entire retirement nest egg could be at risk. Counting on Medicare or your basic health insurance for help is not a viable option as neither will cover LTC as a general rule. As you may be aware, purchasing a separate long-term care insurance policy is one way to plan for the high cost of LTC; however, is it the best option? To answer that question, the … [Read more...]
New Hampshire Prosecutor Warns about “Grandma I Need Help” Elder Scam
Imagine sending a substantial amount of money to help your grandson out of an emergency, only to find out later that your grandson is fine and never needed help. This is exactly what has already happened to seniors all over the country. Financial exploitation is the most common form of elder abuse in the United States, and “granny scams” are one of the most prevalent forms of elder exploitation. Seniors, and those who care for them, should heed the advice recently offered by the New Hampshire … [Read more...]
