The Social Security trustees are projecting that due to the economic downturn caused by the pandemic the Social Security trust fund will be depleted in 2033 — one year earlier than the previous estimates. Once the fund is depleted, Social Security benefits will be reduced unless Continue reading
Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax efficiency, but there are potential problems to look out for. Knowing the implications and risks of a life estate is essential in determining whether it is appropriate for your situation.
In a life Continue reading
Making sure your end-of-life wishes are followed no matter where you happen to be is important. If you move to a different state or split your time between one or more states, you should make sure your advance directive is valid in all the states you frequent. Many people think advance Continue reading
When interest rates are low, intrafamily loans can be a good way to assist a relative (typically a child) with purchasing a house or a family business, and in certain circumstances they can be used to gift money to the next generation.
An intrafamily loan allows family members to Continue reading
Summer is winding down and if you are one of the lucky ones, you got to spend some time at a family vacation home. How do you make sure your children and grandchildren can enjoy that second home as much as you did?
The question for owners of vacation homes in planning their estates Continue reading
Britney Spears’s legal fight to wrest back control over her personal and financial affairs has flooded the issue of guardianship in Klieg lights. While a full guardianship may be necessary for many individuals who are incapable of managing their own affairs due to dementia or intellectual, Continue reading
President Biden has introduced a plan to spend $400 billion over eight years on home and community-based care for the elderly and people with disabilities. The money would go to expand access to care and support higher-paying caregiving jobs.
As the elderly population grows, our Continue reading
Many websites offer customized, do-it-yourself Wills and other Estate planning documents. Although such products are convenient, using them could create SERIOUS and EXPENSIVE legal problems for heirs. These digital services appear to offer a cost-effective and easy alternative to Continue reading
Our last elder advice post for elder law month has sadly come. Hope everyone has enjoyed the information & that it is useful to you & your loved ones.
The federal government has expanded access to protections for spouses of reverse mortgage holders who are not named in the loan document, Continue reading
Talking about Estate Planning is a difficult, emotional topic but it’s essential for every family. Unless you’re certain your parents have an up-to-date will and a wider plan for what should happen in the event of their passing, you shouldn’t assume everything will be taken care of. Continue reading