If you’ve already created an estate plan, you’re well on your way to a secure future. After creating an estate plan, it should be reviewed every 3 to 5 years. However, your plan may need to be reviewed sooner. Take a look at some of the reasons you may need to review your estate plan. If you have any questions or if you’d like to review and update your estate plan, meet with an estate planning … [Read more...] about 4 Reasons for an Estate Plan Review
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What is Guardianship?
With the recent news about Charlie Sheen and other celebrities, you may have heard about the use of a court process called “guardianship”. Many people feel that this legal safety net should be utilized to protect celebrities from themselves. What is guardianship? With the use of a guardianship process, the court grants a “guardian” legal control over an individual and/or that individual’s … [Read more...] about What is Guardianship?
What Can a Revocable Living Trust Do?
Many people consider implementing Revocable Living Trusts into their estate plan. Are you considering including this estate planning tool? Take a look at the information below to learn some of the benefits of creating a trust. If you have any questions or if you wish to create a trust, consult with a qualified estate planning attorney. A trust can be used during your lifetime and after … [Read more...] about What Can a Revocable Living Trust Do?
Estate Planning Concerns for Unmarried Couples
Couples that are not married will face many estate-planning problems that they probably did not count on. This is one reason it is so important to consult an estate-planning attorney that can help you navigate the complex and unique situations that you and your partner may face with your estate plan. One of the biggest problems facing unmarried couples is the estate tax. When you are not married, … [Read more...] about Estate Planning Concerns for Unmarried Couples
Things to Consider When Purchasing Long Term Care Insurance
Long term care insurance can be a beneficial investment that helps you plan for the future. With this type of insurance your needs can be much more affordable in the event that you require ongoing medical care. If you’re thinking about purchasing a long term care insurance policy, you will want to make sure that you choose a policy that meets and will adapt to your circumstances. Take a look at … [Read more...] about Things to Consider When Purchasing Long Term Care Insurance
Are You Unsure About the Need for an Estate Plan
Many people are not sure of their estate planning needs. Some assume they need a large estate in order to create an estate plan. There is also the question as to what age you should consider developing an estate plan. Take a look at some of the questions below to get a better understanding of the need for a proper estate plan. If you have any questions about creating an estate plan, speak with … [Read more...] about Are You Unsure About the Need for an Estate Plan
Pre-Planning Your Funeral
No one likes to think about death or making final arrangements for themselves or a loved one. However, pre-planning your funeral may be one of the biggest comforts you can give your family at the time of your death. When deciding whether or not pre-planning your funeral is right for you, there are three important factors to take into consideration. The first benefit is that you have complete … [Read more...] about Pre-Planning Your Funeral
Top Ten Reasons to Review Your Estate Plan Periodically
1) Marriage. Marriage can automatically give each spouse some rights in each other’s property. However, marriage does not automatically change your will or trust to provide for the new spouse. It is important to examine your estate plan in light of the new situation and your mutual and separate goals. 2) Divorce. Divorce is particularly disruptive to an estate plan. Goals … [Read more...] about Top Ten Reasons to Review Your Estate Plan Periodically
The Six Documents of a Comprehensive Estate Plan
Estate planning is one place in life where you have the power to alter the outcome. Taking the time to decide who, when and how your money will be handled and who will manage your health care when you are unable to make those decisions for yourself are important choices that you have the power to make. A well-rounded estate plan includes six documents: a Revocable Living Trust, General Durable … [Read more...] about The Six Documents of a Comprehensive Estate Plan
Paying for Long-term Care in Maryland
As the baby boomer generation begins to retire, the concern about the need for long-term care increases. Long-term care is expensive. In Maryland, the average costs are as follows:* Avg. Daily Nursing Home Rate : Private $ 258 Avg. Daily Nursing Home Rate : Semi-Private $ 235 Avg. Monthly Cost in Assisted Living Facility: $ 4092 Home Health Aide Average … [Read more...] about Paying for Long-term Care in Maryland
Consumers Want to Know More About TRA 2010: The New Tax Law
By: Stephen C. Hartnett, J.D., LL.M., Associate Director of Education, American Academy of Estate Planning Attorneys After much wrangling and politics, on December 17th, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, otherwise known as “TRA 2010.” The law did many things: Temporarily extended the Bush-era income tax … [Read more...] about Consumers Want to Know More About TRA 2010: The New Tax Law
Long-term Care Insurance: The basics
Long-term care insurance is what the name implies insurance to cover the cost of care in a long-term care facility such as nursing home care. Nursing home care is not covered by Medicare and most other insurance policies. Medicaid will cover the costs of long-term care but require the dissipation of assets to become eligible. Long-term care insurance allows you to maintain your assets and have … [Read more...] about Long-term Care Insurance: The basics
What is Elder Law?
Elder law is the term used to define the area of the law that affects Americas' aging population. This legal specialty has grown as more baby boomers reach retirement age. Some of the laws that have been enacted to protect the senior population are: Social Security including disability and retirement- provides retirement benefits, disability benefits, survivor’s benefits, supplemental security … [Read more...] about What is Elder Law?
Common Ways to Avoid Probate without Formal Estate Planning
You have made decisions that will help you avoid probate without realizing it. These decisions are often made without consulting an attorney or an estate planner. If you decide to use the services of an attorney and/or estate planner make sure that you have discussed these was of distributing property outside of your estate with them. Life insurance – a term life insurance policy that is equal … [Read more...] about Common Ways to Avoid Probate without Formal Estate Planning
Do I Really Need to Worry About Estate Planning?
Most people are unsure about the need for estate planning. The common misconception is that estate planning is for the rich. Another reason people shy away from estate planning is that they feel that estate planning is only about what happens to your money when you die. Who wants to think about death? There was a time when the major focus of estate planning was on avoiding probate. Avoiding … [Read more...] about Do I Really Need to Worry About Estate Planning?
Welcome to the Blog of Sinclair Prosser Gasior
New blog posts coming soon! … [Read more...] about Welcome to the Blog of Sinclair Prosser Gasior
