Most people have a vague understanding of the importance of estate planning; however, there are also several myths and misconceptions surrounding the reason for having an estate plan in place. Specifically, people often have the wrong ideas about what happens after they are gone. To help make sure you do not fall victim to any of these mistaken ideas, a Beverly estate planning attorney at Legacy Care Law Firm explains how to make changes to a Last Will and Testament. Contact Estate Planning … [Read more...] about Understanding What Happens When You Die
Do I Need an Attorney to Administer a Trust?
Over the last several decades, trusts have grown in popularity to the point where it is now common to find a trust included in the average estate plan. Although trusts have also evolved to the point where there are now numerous specialized trusts aimed at accomplishing very specific estate planning goals, all trusts have a few basic elements in common, including the need for a Trustee to handle the administration of the trust. Because the Settlor appoints the Trustee, almost anyone can be a … [Read more...] about Do I Need an Attorney to Administer a Trust?
How Using a Trust Can Protect a Valuable Inheritance
If you are fortunate enough to have amassed a decent-sized estate over the course of your lifetime, you may plan to pass some, or all, of that estate down to your children and/or other loved ones. The conventional method used to pass down assets is gifting them through a Last Will and Testament. What happens, however, if you are concerned about handing a beneficiary a sizeable inheritance all at one time? The Nashua estate planning attorneys at Legacy Care Law Firm explain how to avoid passing … [Read more...] about How Using a Trust Can Protect a Valuable Inheritance
What Seniors Need to Know to Protect Assets
While it is always important to focus on how your estate assets will be passed down to loved ones, it is equally important to incorporate tools and strategies in your estate plan that help to protect those assets while you are alive. Asset protection planning should be included in your estate plan throughout your lifetime; however, when you reach your retirement years, you may need to review and revise some of your asset protection planning tools and strategies to ensure that your assets … [Read more...] about What Seniors Need to Know to Protect Assets
Do We Need an Estate Plan If We Do Not Plan to Have Children?
Estate planning discussions often focus on couples with children who wish to decide how and when to pass down an inheritance to future generations. Unfortunately, that frequently causes couples without children to believe that estate planning is not equally important for them. To correct this common misconception, a Beverly estate planning attorney at Legacy Care Law Firm discusses estate planning for couples who do not plan to have children. Childlessness in America Data published from … [Read more...] about Do We Need an Estate Plan If We Do Not Plan to Have Children?
What You Need to Know about Osteoporosis
Worldwide, one in three women and one in five men aged 55 years and over are at risk of an osteoporotic fracture. That means that osteoporosis is likely to impact you, or someone you love, at some time. To help you stay healthy, a Beverly elder law attorney at Legacy Care Law Firm explains what you need to know about osteoporosis. What Is Osteoporosis? Osteoporosis, which literally means porous bone, is a disease in which the density and quality of bone are reduced. Our bones are living … [Read more...] about What You Need to Know about Osteoporosis
The Importance of Having an Estate Plan
We all know that we should create an Estate Plan, yet so many of us procrastinate in undertaking such an important task. Creating an Estate Plan represents a simple, yet effective way to provide comfort and stability to your family upon your death by ensuring that your assets pass in the way that you want to whom you want. Unfortunately, so many encounter a tragedy or crisis before prioritizing their Estate Plan, sometimes it is too late. As headlines often remind us, even those with significant … [Read more...] about The Importance of Having an Estate Plan
Tis the Season for Giving
Most taxpayers understand that to receive the benefit of charitable deductions, they need to itemize their income tax deductions. Creating a charitable giving strategy can be a great way for taxpayers to save on taxes while benefiting their community. Certain techniques can be used in conjunction with others to maximize the benefit of charitable giving. Read on to learn more. … [Read more...] about Tis the Season for Giving
Is Something Missing in Your Estate Plan?
If you have an estate plan in place you are already ahead of the game. Despite understanding the importance of estate planning, less than half of all Americans have a plan in place. To ensure that your plan works as intended, however, you need to make sure it is complete and comprehensive. Toward that end, a Beverly estate planning attorney at Legacy Care Law Firm helps you make sure nothing is missing in your estate plan. The Need for Comprehensive Estate Planning While a basic estate … [Read more...] about Is Something Missing in Your Estate Plan?
When a Family Member Commits Elder Abuse
As the population of older individuals continues to increase, the issue of elder abuse is gaining more prominence in the media and in the American conscience. When a parent starts to really show signs of aging, a decision must be made regarding the parent’s care. People often resist the idea of sending a parent to a long-term care facility, preferring that a family member cares for the parent instead. What if you begin to suspect that the family member who is supposed to be caring for your … [Read more...] about When a Family Member Commits Elder Abuse
