You have worked hard for the better part of your life to accumulate a fair amount of assets that you intend to pass down to your heirs. One thing that is important to consider are estate and inheritance taxes. Currently, federal estate tax is applied if a person’s...
Advantages and disadvantages of revocable living trusts
Many people mistakenly think that creating an estate plan simply requires you to create a will detailing how your assets will be distributed upon your death. However, estate plans are often more complicated than that, even if you have a smaller estate. One estate tool...
Understanding elder law and surrounding issues
You have probably heard the term, “elder law” but you may not fully understand what it is or where or when it applies. The loose definition of elder law is a set of laws that concern legal issues surrounding older people. What is meant by older people is generally...
Power of attorney is a necessary part of estate planning
As we get older, it becomes more likely that we will suffer from medical condition that affects our physical health or cognitive abilities. That is why it is so important to assign decision making power to another person by creating a power of attorney (POA). The...
