Hollywood actor, Paul Walker, died in 2013 with approximately 32 vehicles. Several years later, there is a lawsuit filed by his estate to recover missing vehicles, or renumeration of their value. A car is an asset that many of us depend on in our daily lives to get to work, take the kids to school and run our errands. We put many efforts into caring for our vehicles, so we want our family to enjoy … [Read more...] about What Happens With My Vehicles At My Death?
Will the Social Security Administration Accept my Power Of Attorney?
Many people wisely plan for their incapacity by creating a property or financial power of attorney. A property or financial power of attorney will allow your named agent to speak to various financial institutions in the event that you are not able to manage your own financial affairs at some time. A loved one that needs to help a family member who is incapacitated, but does not have the capacity … [Read more...] about Will the Social Security Administration Accept my Power Of Attorney?
Should I Share My Estate Plan with Family?
I will often get the question, “Should I share my estate planning documents with my family?” The answer usually varies depending on the family dynamics and personal circumstances of each client. One of the reasons many people plan their estate is to make things easier for their family when they pass away. Many clients figure that their family members will have an easier time using the … [Read more...] about Should I Share My Estate Plan with Family?
Should I Have An Estate Plan If I’m Single?
There is no question that estate planning is often talked about in terms of planning for married couples and families. However, in many ways, estate planning for a single person is more complex than for a married couple. For many married couples, the spouse is the person they trust to make decisions about the disposal of assets and management of medical and financial decisions if they become … [Read more...] about Should I Have An Estate Plan If I’m Single?
What is the Difference Between a Revocable and Irrevocable Trust?
Clients often ask me, “What is the difference between a Revocable and an Irrevocable Trust and which option is best for me?” The short answer is that the creator of a Revocable Trust can revoke or change the terms of the trust, whereas the creator of an Irrevocable trust cannot. For many families a Revocable Trust makes a lot of sense as it is more flexible. The creator of the trust … [Read more...] about What is the Difference Between a Revocable and Irrevocable Trust?
What is a Personal Care Agreement?
WHAT IS A PERSONAL CARE AGREEMENT AND DO I NEED ONE? As our loved ones age, we often find ourselves or other family members acting as an immediate caregiver. A personal care agreement can be a useful tool for the family to consider as the caregiver makes many sacrifices. A formal agreement among the family provides a way to compensate the caregiver and provides transparency for the … [Read more...] about What is a Personal Care Agreement?
What is the Difference Between an Estate Planning Attorney and a Financial Advisor?
As an estate planning attorney, it is my job to counsel and advise clients. I am tasked with understanding how assets are structured and the tax implications on certain accounts or financial products. Understanding how these things work both practically and legally allows me to counsel clients on how best to structure an estate plan for a particular family. For example, a traditional Brokerage … [Read more...] about What is the Difference Between an Estate Planning Attorney and a Financial Advisor?
How to Fund Your Revocable Living Trust
A Living Trust is a way to hold title to assets, just like sole ownership or joint tenancy. The main reasons most individuals choose an estate plan that includes a Revocable Living Trust is to avoid probate. The only way to accomplish this is to set up the trust properly and fund your trust. Funding a trust is the process of transferring your assets to the ownership of your trust. Once ownership … [Read more...] about How to Fund Your Revocable Living Trust
Lessons Learned from Larry King
Larry King was a mainstay on American television and an iconic radio host whose accolades included an Emmy, two Peabodys, and numerous cable awards. His notoriety will likely remain for years to come due to his celebrity status, his various marriages, and broadcasting firsts, including the talk show that bore his name. However, the legacy of Larry King may shift as the conversations regarding his … [Read more...] about Lessons Learned from Larry King
Can Medicaid Still Take My Home after I Die?
For 2019, the average cost of a year in a Maryland long-term care facility was over $125,000. Unless you can afford to cover that kind of expense out of pocket, you will likely need to depend on Medicaid to help you if you need long-term care (LTC) in the future. One of your biggest fears, however, may be the commonly held belief that to qualify for Medicaid you will have to give up your home or … [Read more...] about Can Medicaid Still Take My Home after I Die?
