If you do not yet have a Medicaid planning component in your estate plan, you should consider adding one. Although you may have never before needed to rely on Medicaid, that could change when you reach your retirement years. In fact, a Medicaid planning attorney at Nash Bean Ford & Brown LLP explains what a Medicaid trust is and why you might need one. Why Do I Need to Worry about Medicaid? If you (or a spouse) need long-term care (LTC) at some point, there is a good chance you will need … [Read more...]
Estate Planning for Parents with Minor Children
If you are the parent of minor children, they are undoubtedly your primary motivation for creating a successful estate plan. As such, your estate plan should be tailored to provide for your children. An estate planning attorney at Nash Bean Ford & Brown, LLP explains how estate planning for parents with minor children begins by deciding how to protect the inheritance intended for those children. Last Will and Testament Basics A Last Will and Testament is a legal document that communicates … [Read more...]
A “Good Death” Requires Planning
When many of us contemplate the last months or years of our lives, we hope to spend that time at home instead of in a hospital. That hasn’t always been the case though. If you are among those who hope to experience a “good death,” you need to plan ahead, says an elder law attorney at Nash Bean Ford & Brown, LLP. A “Good Death” According to a recent New York Times article, people’s attitudes about what constitutes a “good death” have changed dramatically over the years. Around the turn of … [Read more...]
How Does Divorce Impact Your Estate Plan?
Your estate plan does not exist in a vacuum. Instead, a wide range of factors and events can significantly impact your estate plan. Divorce is among those events. To help you better understand and plan, an estate planning attorney at Nash Bean Ford & Brown, LLP explains the impact a divorce can have on your estate plan. When a Marriage Ends At the beginning of a marriage, it is common to think of the marital assets as “what’s mine is yours and what’s yours is mine.” At some point, however, … [Read more...]
Top 5 Obstacles to Avoid during Probate
When a family member, or close loved one, passes away, the grieving process that follows often overwhelms the survivors. Focusing on even the most mundane of tasks can be difficult in the wake of a loss. If you were appointed as the Executor of the estate by the decedent, however, you must find a way to focus on the duties and responsibilities involved in probating the estate. To help prevent costly mistakes, the probate attorneys at Nash, Bean, Ford & Brown, LLP point out several common … [Read more...]
Reasons to Use a Living Trust to Distribute Your Estate
When you created your initial estate plan, you probably relied on a Last Will and Testament to take care of distributing your estate assets. As you and your estate grow, however, so should your estate plan. It may be time to consider another option for distributing your estate assets – a living trust. To help you decide which option is right for you, the estate planning attorneys at Nash, Bean, Ford & Brown, LLP explain some common reasons why many people choose to use a living trust to … [Read more...]
What You Need to Know about a Crummey Notice
For a trust beneficiary, the receipt of a “Crummy notice” can be confusing. Having never before received a Crummey notice, a beneficiary is typically unsure what to do next. Most beneficiaries assume there is some reason important reason behind the notice. To prepare you for receipt of a Crummey notice, a estate planning attorney at Nash, Bean, Ford & Brown, LLP explains when one is required and what to do if you receive one. Trust Administration Basics Trusts are broadly divided into … [Read more...]
Providing Care from a Distance
Providing care for a parent, or other elderly family member, is something many of us truly want to do. That doesn’t mean it is an easy thing to do though. On the contrary, caring for an older adult can be physically and mentally exhausting if you happen to live hundred, or even thousands, of miles away. To help you, an elder law attorney at Nash, Bean, Ford & Brown, LLP offers tips on providing care from a distance. Family Caregivers As the population of older American continues to grow … [Read more...]
The Marital Deduction –What You Need to Know
When you create, or update, your estate plan, it is important to take into account the impact federal (and state) gift and estate taxes could have on your estate. Failing to anticipate your estate’s tax obligation, and plan to limit that obligation, could result in your loved one’s receiving a significantly less valuable estate than you intended to pass down. If you are married, you may be planning to rely heavily on the marital deduction to avoid taxes; however, doing so creates its own set of … [Read more...]
Questions to Ask an Elder Law Attorney
As the population of older Americans continues to grow at a historic pace, the rest of society has scrambled to try and keep up with their needs. Seniors face many of the same legal issues as their younger counterparts; however, they also have some unique legal needs and concerns. To service those needs, a new area of the law evolved known as elder law. The elder law attorneys at Nash Bean Ford & Brown, LLP offer some questions and answers to help you better understand elder law. How do … [Read more...]
