ARTICLES

Trusts are often used to describe beneficiaries of trust funds, but they are also common and useful tools in the creation of estate plans of all sizes. They are used to manage and protect assets, control the distribution to beneficiaries, and continue family legacies.

It can be emotionally and mentally challenging to consider financial matters and make long-term life decisions. However, it is crucial to wisely manage your assets while aging and provide for the family members who will survive you. Your elder law attorney knows how to create an estate plan strategy that addresses these concerns.

It's likely that whether you're in the middle of estate planning or just starting to consider your options, you've got questions about how your assets should be distributed and who should handle it. A trust can be a great tool in your estate planning tool kit.

You may be wondering what estate planning and elder law entail and how they differ as you begin planning for your future, both financially and in terms of health care needs. Even though these two types of law are for different stages in life, they are often handled at the same time.

It is common for an aging parent to lose the ability to think clearly and make informed and meaningful decisions about their life as they age. This growing inability may occur due to Alzheimer’s disease, other forms of dementia, mental illness, stroke, brain injury, or other severe health or disability conditions.

A person electing you to be the executor of their estate believed that you would be trustworthy to handle their assets and affairs after their death. Even though the decedent nominated you to be their executor, you will still need to be appointed to that role by their local probate court.

Elder law and estate planning are often used interchangeably; however, there are significant differences between them. While some overlap exists between the two, learning and implementing strategies from both law practice types is crucial to prepare for successful aging and preserve a family legacy.

It is obvious and right to divide assets equally among children in a variety of situations. However, in some families, the same inheritance for all children may not be appropriate, can deplete the estate's assets due to litigation, or cause other family problems.

It can be a challenge to discuss your parents' will or estate plan, or lack thereof, with them. Many adult children put off having the “dreaded talk” with parents and are unprepared when an unforeseen event like an accident or illness happens.

A traditional family thirty years ago consisted of a husband and wife who were married young, bought a house, had children, and worked towards financial stability and security.