In the United States, gun trusts are legal tools that enable individuals to own firearms in a legally compliant way and, at the same time, allow them to share access to firearms with others. This approach is beneficial for those who own restricted firearms or firearms regulated by the National Firearms Act (NFA), such as […]
During the process of planning your future, both financially and medically, you may wonder what the difference between estate planning and elder law is. Estate planning and elder law also have some similarities. Even though these two types of law are for different stages in life, they are often handled at the same time. This […]
You can delegate the power of attorney to someone you trust to conduct transactions or make decisions on your behalf. They could be related to personal finances, business operations, or medical needs and used for a single immediate purpose or an ongoing situation. This may sound pretty straightforward. When you are looking for services online, […]
For estate planning purposes, revocable and irrevocable trusts are the most common types. While there is some similarity, these two major categories of trusts have different purposes in your estate plan. Both can substitute for a last will and testament as an alternative way to distribute property, though a trust and a will often exist […]
One of the hardest challenges in life is contemplating one’s own death. Yet it is very important to think carefully about the medical treatment we would want for that challenging time. Medical technology can now keep us alive long after we have ceased to enjoy meaningful quality of life. A series of legal rulings around […]
In order to qualify for Medicaid assistance for nursing home care, assisted living, in-home care, or adult foster care, an individual must meet certain income and asset criteria. As a result of these rules, many candidates give away their money and resources to qualify. However, there is a “look-back period” before the individual’s application acceptance, […]
It might seem straightforward to leave your property to your heirs. You make a will or a trust, you do a transfer-on-death deed for your real estate, you put your kids on your bank account, you designate beneficiaries for your life insurance and retirement accounts, and you’re done. If only things were that simple. The […]
When it comes to estate planning, wills, and trusts have specific and quite different benefits. Each state has specific laws and regulations governing these legal documents. You can have both a will and a trust; however, the information in each should complement the other. As a standalone, it is not accurate to say one is […]
A power of attorney is an essential tool in planning for the possibility of becoming incapacitated and needing someone to manage your affairs on your behalf. These legal documents can grant broad authority to one or more power of attorney agents to transact business or make medical decisions based on your behalf. The Different Forms […]
A Living will is also called an advance health care directive. It specifies what decisions you want medical professionals to make if you are incapable of making them due to accidents or illness. A living will is crucial for all adults because accidents or a sudden onset of severe or terminal illness can happen at […]
A spouse or long-term partner’s loss makes it difficult to think beyond just your grief. However, it is crucial to understand there are important and timely decisions you need to make regarding your finances and personal estate plan. In truth, estate planning is perpetual as it accounts for changes in marriages, deaths, divorces, and births […]
People with disabilities can save money tax-free through special needs trusts (SNT) and Achieving a Better Life Experience accounts (ABLE). Both options provide a mechanism for saving money and protecting resources that ensures the person with a disability (PWD) continues their eligibility for public benefits programs. Accumulating resources for the benefit of a PWD without […]
