If your spouse has biological children, you may consider them your own. But, if you haven’t adopted them, they have no inheritance rights. This article looks at how to plan for step-children. Planning for Step-Children … [Read more...] about Planning for Step-Children
What Documents Are Needed for Estate Planning?
Creating an estate plan for the first time can be an intimidating endeavor given all the goals you may wish to consider and the numerous documents available to help you achieve those goals. A better understanding some of those documents may make the process a little less intimidating. With that in mind, the Nashua estate planning attorneys at Legacy Care Law Firm explain some of the most commonly used estate planning documents. Last Will and Testament Most people use a Last Will and … [Read more...] about What Documents Are Needed for Estate Planning?
What Happens to My Retirement Account When I Die?
Like millions of Americans, you may have one or more retirement accounts with considerable assets held in the accounts. What happens to those assets after you are gone? The Salem retirement planning attorneys at Legacy Care Law Firm explain what happens to your retirement account after your death. Retirement Account Basics Faced with the need to plan for their own retirement, self-funded options such as Individual Retirement Accounts (IRAs), 401(k)s, and other tax deferred retirement … [Read more...] about What Happens to My Retirement Account When I Die?
Comparing Medicaid and Medicare
Most people have heard of both Medicare and Medicaid. In fact, people often use the names of the two healthcare programs interchangeably when, in fact, there are important differences between them. Because there is a good chance that you will need to rely on both programs as a senior, understanding those differences is important. To get you started, the Woburn Medicaid planning attorneys at Legacy Care Law Firm compare the Medicare and Medicaid programs. Medicaid Benefits and Eligibility … [Read more...] about Comparing Medicaid and Medicare
Family Business Succession Planning Best Practices
Are you one of the millions of people for whom owning a family business is part of the “American Dream?” If so, protecting that business in your estate plan is imperative. The way to do that is to incorporate a business succession planning component in your overall estate plan. Of course, your plan will be tailored to meet the needs of your business; however, to give you a general idea of how to protect your business, the North Andover business succession planning attorneys at Legacy Care Law … [Read more...] about Family Business Succession Planning Best Practices
Why Would I Want to Make My Living Trust Irrevocable?
Trusts are broadly divided into two categories – testamentary and living trusts. Living trusts can be further sub-divided into revocable and irrevocable living trusts. A revocable living trust is one that can be modified, amended, terminated, or revoked at any time, and for any reason, by the Settlor whereas an irrevocable living trust cannot be modified or revoked for any reason by the Settlor. If you are considering incorporating a trust into your estate plan, you may be wondering why you … [Read more...] about Why Would I Want to Make My Living Trust Irrevocable?
Why Crowdfunding May Cost You Medicaid Eligibility
Each year, crowdfunding websites raise money for causes. Did you know such a website could impact your eligibility to receive Medicaid? Read on to learn how crowdfunding can impact Medicaid eligibility. Why Crowdfunding May Cost You Medicaid Eligibility … [Read more...] about Why Crowdfunding May Cost You Medicaid Eligibility
Many Reasons to Plan
Each of us will die eventually. This article looks at how planning can make our passing easier for our loved ones. Specifically, this article looks at how planning can maintain privacy for your loved ones. Many Reasons to Plan … [Read more...] about Many Reasons to Plan
New Tax Proposal re: Retirement Savings
There are new tax proposals working their way through the House and Senate. These proposals, if passed, would change retirement savings significantly. Read on to learn more about these proposals and whether they might impact you or your clients. New Tax Proposal re: Retirement Savings … [Read more...] about New Tax Proposal re: Retirement Savings
Staying Current on Estate Planning
It’s important for estate planning attorneys to stay up on the latest developments and techniques. The American Academy of Estate Planning Attorney held its semi-annual conference in Atlanta last month. Read on to learn more about the topics discussed at that cutting-edge conference. Staying Current on Estate Planning … [Read more...] about Staying Current on Estate Planning
