As a senior, you may find that eligibility for Medicaid is crucial to help cover the high cost of long-term care. If so, one of your concerns may focus on a commonly held belief that your reliance on Medicaid will leave your spouse without income and/or assets. To put your mind at ease, the Medicaid planning attorneys at Legacy Care Law Firm explain the New Hampshire Medicaid Minimum Monthly Needs Allowance. Paying for Long-Term Care The longer you live the better the odds are that you … [Read more...] about Understanding the New Hampshire Medicaid Minimum Monthly Maintenance Needs Allowance
Common Mistakes in Estate Planning – IV
With the proliferation of the internet has come a plethora of websites claiming that individuals may take a “Do It Yourself” approach to Estate Planning. While individuals may think that a plan created by one of these companies will meet their needs and save them money, the opposite is true. These plans often fail to contain necessary provisions and usually cost the family more in attorneys’ fees. In addition, a Trusts and Estate practitioner can alert a family to techniques designed to lower … [Read more...] about Common Mistakes in Estate Planning – IV
15 Things to Do Following the Death of a Loved One
When a loved one passes away, the immediate time period that follows is often filled with heightened emotions, including shock, grief, and denial. It can be extremely difficult to think about the practical things that need to be taken care of while dealing with such strong emotions. With that in mind, the Beverly estate planning attorneys at Legacy Care Law Firm offer a practical guide that includes 15 things you likely need to do following the death of a loved one. Contact Beverly Estate … [Read more...] about 15 Things to Do Following the Death of a Loved One
How Estate Planning Can Protect Unmarried Couples
Not all that long ago, an unmarried man and woman living together were thought of as “living in sin.” They were routinely shunned by family members and ostracized by society. Today, however, the stigma against living together outside of marriage has all but vanished. In fact, more and more couples are not just choosing to cohabitate prior to marriage, but many are foregoing legal marriage altogether. With that in mind, the Beverly estate planning attorneys at Legacy Care Law Firm discuss … [Read more...] about How Estate Planning Can Protect Unmarried Couples
Common Mistakes in Estate Planning – Part II
When people think about an Estate Plan, they often have tunnel vision and focus on just a few of the many considerations that influence the plan. Most individuals focus on their assets and figuring out to whom they want those assets to pass. While those things matter, thinking about the intended beneficiary and their individual circumstances also matters. Certain types of beneficiaries require additional planning. Read on to learn more. … [Read more...] about Common Mistakes in Estate Planning – Part II
Make Sure You Understand a Power of Attorney Before Signing One
You likely already have some idea of what a Power of Attorney is and when or why you might want to execute one. Nevertheless, a Power of Attorney (POA) is one of the most frequently abused legal documents. One reason for this is that people sign a POA without truly understanding the authority and power they are giving to someone else. To keep you from making this common mistake, the Beverly estate planning attorneys at Legacy Care Law Firm discuss the different types of Power of Attorney and the … [Read more...] about Make Sure You Understand a Power of Attorney Before Signing One
Common Mistakes in Estate Planning – Part I
Despite knowing that they should have an estate plan, many individuals look for shortcuts to creating an Estate Plan. They rely upon advice from seemingly well-intentioned individuals that if avoiding probate is their main goal and they don’t have a taxable estate, they need not seek out an attorney to create an Estate Plan. While options exist to avoid probate, probate avoidance is just one of many considerations in creating an Estate Plan. Read on to learn more. … [Read more...] about Common Mistakes in Estate Planning – Part I
What Are the Costs Involved in Probate?
Probate avoidance is a common estate planning goal for many reasons. Along with making life easier on your surviving loved ones, ensuring that your estate avoids probate (or diminishing the need for probate) can also save your estate a considerable amount of money. That, in turn, means that your beneficiaries will keep more of the inheritance you intended to pass down to them. To explain why avoiding probate is a wise estate planning goal, the North Andover probate attorneys at Legacy Care Law … [Read more...] about What Are the Costs Involved in Probate?
Who Should Be My Trustee?
If you choose to include a trust in your comprehensive estate plan you will need to appoint a Trustee to administer the trust. While this may sound like a simple task, choosing the wrong person to administer a trust can cause or contribute to the failure of a perfectly drafted trust agreement. Given the importance of choosing the right Trustee, the Beverly trust attorneys at Legacy Care Law Firm help you decide who your Trustee should be. What Is a Trust? A trust is a legal … [Read more...] about Who Should Be My Trustee?
Common Estate Planning Obstacles
Like many people, you may recognize the importance of having an estate plan in place yet still do not have one. Alternatively, you may have a basic estate plan in place, but your plan lacks vital components. If either scenario applies to you, you have likely been hindered by one or more common estate planning obstacles. To help you get a comprehensive plan in place, the Salem estate planning attorneys at Legacy Care Law Firm discuss common estate planning obstacles. Believing You Do Not Need … [Read more...] about Common Estate Planning Obstacles
