A family letter is a key part of a good estate plan. It is much more personal than many of your estate documents. A family letter allows you to share your heart and show appreciation and gratitude to family members. The family letter may have up to ten different sections. Each section will cover an important but separate topic. Continue reading
When children are in their 30s and 40s, they frequently are starting a new career or beginning a family. Many are still paying off school debts. For these reasons they could benefit from some additional help. Continue reading
Special needs trusts come in three main flavors — first-party special needs trusts, third-party special needs trusts, and pooled trusts. All three trust varieties are designed to manage resources for a person with special needs so that the beneficiary can still qualify for public benefits like Supplemental Security Income (SSI) and Medicaid. Continue reading
It’s instinctive to want a map. Where’s the next turn? It’s a human thought pattern. After we find out that a loved one has Alzheimer’s disease it’s only natural to research it. The National Alzheimer’s Association has developed a very useful tool, or “staging system,” to use as a frame of reference when coping with Alzheimer’s disease. The organization will be the first to tell you that people are not programmed to follow these stages in a direct line. With that in mind, we’ll look at the stages as presented by the National Alzheimer’s Association. Continue reading
Great review of basic considerations before finalizing your estate plan.
“Who should receive my property?” asked Helen to her attorney, Clara. “There are so many decisions to make. Since Morgan passed away, I need to make these decisions myself. Should I give property to the children outright or in trust? Is there a best age for them to receive the property? And what if one of them were to pass away before I do? The grandchildren are still too young to manage property. I also have made a loan to one of the children. Should I forgive that loan? And what about my dog Rover? Who will take care of Rover?” Continue reading