Often, an inheritance is left to loved ones through a trust instead of as a direct gift in a Last Will and Testament. As the beneficiary of a trust, you must depend on the Trustee to manage the trust assets and administer the trust using the terms created by the Settlor (creator of the trust). You also must count on the Trustee to distribute the assets to you pursuant to the terms of the trust and/or the authorize distributions if the Trustee has discretionary authority with regard to … [Read more...]
How Do I Modify or Revoke My Revocable Trust?
Though once thought of as only benefitting the wealthiest among us, trusts are now commonly used by the average person to accomplish a wide range of estate planning goals. If you do include a revocable trust in your estate plan, you may later find that you want to modify, or even revoke, that trust. You may be surprised to learn that modifying or revoking a trust if often easier than making changes to your Last Will and Testament; however, if the proper steps are not followed, an attempt to … [Read more...]
Can Medicaid Go after My Estate Assets after I Die?
As much as we all would prefer not to think about, we all stand a chance of ending up in a nursing home as a senior. In fact, the longer you live, the more likely it becomes that you, or your spouse, will need long-term care (LTC). Given the high cost of LTC, it should not be surprising that over half of all seniors currently living in a long-term care facility depend on Medicaid to help them with the high cost of that care. You may have heard about how difficult it can be to qualify for … [Read more...]
Careful Planning Can Avoid Guardianship
Over the course of your lifetime, you will have made millions of decisions for yourself. Most people do not like the idea of turning over the decision-making authority to someone else; however, the reality is that at some point it may be necessary. By planning ahead, you can choose to whom you hand over that authority instead of letting a court decide through a guardianship petition. The Illinois Quad City probate attorneys at Nash, Nash, Bean & Ford, LLP explain what you can do now to avoid … [Read more...]
Are You Planning for Long-Term Care? LTC Planning Month Is a Good Time to Get Started
Although we enjoy a much longer average life expectancy in the United States than our ancestors did just a century ago, the natural aging process will catch up with all of us eventually. With that in mind, why not get started on your long-term care planning this October during Long-Term Care Planning Month? Each year, the month of October is designated as Long-Term Care Planning Month in the United States, providing the perfect opportunity to ensure that both you and your assets are protected … [Read more...]
Court Narrows Field to 2 in Battle Over Manson Estate
Celebrity estate battles frequently serve as examples of the importance of having a well thought out estate plan in place, as well as what can happen when you don’t have a plan in place. The fact that there is yet another “celebrity” estate battle making the news, therefore, should come as no real surprise. The identity of the “celebrity,” however, may come as quite a shock. Charles Manson, who died in prison last year, left very few assets behind; yet, several people have thrown their hat into … [Read more...]
Moline Trust Lawyers Explain How a Trust Helps Avoid Probate
For most people, a Last Will and Testament is the first estate planning document they create. That same Will may continue to serve as the foundation of their estate plan for many years to come. If your Will remains the cornerstone of your estate plan, it might be time to consider another option if probate avoidance is important to you. A trust can accomplish most of the same goals as a Will while also offering a number of additional estate planning benefits, including probate avoidance. The … [Read more...]
Tips for Reducing the Likelihood of a Dispute over Your Estate
Your estate plan is your opportunity to put down in writing what you wish to happen to your estate assets after you are gone. For most people, one of the strongest motivations for having an estate plan in place is to ensure that those wishes are honored. Unfortunately, the law does allow certain people to challenge the Last Will and Testament that you execute. Because a Will contest is only initiated after your death, you cannot defend your Will if one is filed. You can, however, take steps now … [Read more...]
-Alternatives to Long-Term Care
The idea of moving a parent, or other elderly loved one, into a nursing home is usually not a welcome thought. In fact, most of us prolong even thinking about the need for long-term care (LTC) until long after the need actually exists. Fortunately though, as the elderly population in the United States has exploded in recent years, the healthcare industry has also evolved to meet their needs. Consequently, there are now a number of potential alternatives to LTC that may prolong, if not completely … [Read more...]
-Will a Robot Be Your Caregiver in the Future?
Experts tell us the older population in the United States will more than double from the current 46 million to over 98 million by 2060. The average life expectancy has also nearly doubled in the U.S. over the last century. The combination of the two threatens our already overburdened healthcare system. A healthcare system that is struggling to provide quality care to the elderly now. It should come as no surprise that concerns are mounting about how we will be able to care for our elderly in the … [Read more...]
- 1
- 2
- 3
- …
- 49
- Next Page »
