Author Archives: Site Administrator
How Do I Keep My Assets from the Nursing Home?
If you don’t have a plan for your assets when it comes time for nursing home care, they can be at risk. Begin planning now for the expenses of senior living. The first step is to consider the role of Medicaid in paying for nursing home services. WRCB’s recent article entitled “How to Protect… Read More »
Is It Time for a Pre-‘Check-out’ Checkup?
Federal News Network’s recent article entitled “Divorced, kids grown, moving? Time for a pre-checkout checkup!” says life changes mean changes for your estate plan, like when your children grow up and leave the home. Let’s review some of the key components of a complete estate plan. A basic estate plan includes powers or attorney… Read More »
Estate Planning for Asset Distribution
Without proper planning, your will determines who inherits your property—everything from your home, car, bank accounts and personal possessions. Your spouse may not necessarily be your heir—and that’s just one of many reasons to have an estate plan. An estate plan avoids a “default” distribution of your possessions, says the recent article “Asset distribution… Read More »
What are Power of Attorney Options?
FedWeek’s recent article entitled “The Options in Granting Powers of Attorney” explains that a power of attorney designates someone else to handle your affairs, if you can’t. Here are the major types: Limited power of attorney. This allows an agent to act on your behalf under specific circumstances, like a home sale closing that… Read More »
Estate Planning Needs for Every Stage
Many people decide they need an estate plan when they reach a certain age, but when an estate plan is needed is less about age than it is about stages in life, explains a recent article “Life stages dictate estate planning needs” from The News-Enterprise. Life’s stages can be broken into four groups, young… Read More »
Searching for Lower Taxes? Check State Laws
If you are among the many Americans making a move because of economics, a recent article from MarketWatch titled “Thinking about moving to a state with lower taxes? These are the mistake to avoid” has the information you need about the tax impact of your prospective new home state. Moving to a state with… Read More »
What Needs to Happen after a Spouse Dies?
Making funeral arrangements, paying medical bills and closing down accounts are just the start of the tasks that a surviving spouse must take charge of, advises the recent article “Checklist for Handling the Death of a Spouse” from U.S. News & World Report. It can be overwhelming, especially with the intense emotions that come… Read More »
What Is a Fiduciary and a Fiduciary Duty?
First, a fiduciary duty is the requirement that certain professionals, like attorneys or financial advisors, work in the best financial interest of their clients. By law, members of some professions with clients are bound by fiduciary duty. Forbes’ recent article entitled “What Is Fiduciary Duty?” explains that in a fiduciary relationship, the person who… Read More »
What Is Involved with Serving as an Executor?
Serving as the executor of a relative’s estate may seem like an honor, but it can also be a lot of work, says The (Fostoria, OH) Review Times’ recent article entitled “An executor’s guide to settling a loved one’s estate.” As an executor of a will, you’re tasked with settling her affairs after she… Read More »
Do I Need More Than a Will?
If you die without a will (i.e., intestate), a court will determine who inherits your assets and who would care for any surviving children as a guardian. CNBC’s recent article entitled “A will doesn’t cover all your bases when it comes to end-of-life decisions. Here’s what else you need” explains that some assets pass… Read More »