When do you need your estate plan to ‘go to work’ for you? While you may think the right answer is ‘after I die,’ the actual answer is ‘if I lose the ability to manage my own affairs.’
Do you expect your parents to leave you a financial legacy? Nearly half of working-age Americans assume that they will receive an inheritance that will support them later in life, according to a survey by financial services company HSBC. Perhaps the bigger question, though, is how to even approach this topic with your parents.
Second (or third or fourth) marriages often require careful balancing between the needs of the surviving spouse and the needs of the children from a previous marriage.
Consult an elder care lawyer preemptively, to avoid making a panicked phone call in the moment.
As a result of illness, old age or incapacity, what may happen when you can no longer handle your own decision-making, handle your own money or make your own health care choices? Who can step in to help and how are they empowered?
Cindy, a widow in her early 60s, was undergoing physical therapy for an injury to her foot, making it difficult for her to get around. In addition, she was suffering depression brought on by the immobility and pain, resulting in her neglecting to pay bills and taking care of other financial affairs.
One in four American adults live with a disability, according to the Center for Disease Control. One in 10 adults over the age of 65 has Alzheimer’s or dementia, according to the Alzheimer’s Association.
Probate and trust administration are not the same. There are important differences and similarities between administering a decedent’s probate estate and administering a decedent’s trust estate.
Each year, senior citizens lose billions of dollars to financial fraud, with the loss to individual victims averaging tens of thousands of dollars.
If you pass away with no will, a state court may decide who gets your assets and — if you have children — who will care for them.
