What nursing home red flags should I look out for?

Choosing to place a loved one in a nursing home is a challenging decision. Even if it is in their best interest, you will probably have concerns about the quality of the care provided to your family member. Fortunately, it is possible to determine the overall quality of a facility by looking for a few key signs. U.S. News & World Report describes the following nursing home red flags to look out for. Delayed Read More

Estate planning and financial tips for late-in-life parents

Your relatives never thought this would happen, and, sometimes, neither did you. You became a father in your late 40s. The joy of parenthood overcomes you, but you also realize the near-endless responsibilities that come with it. One of the most important responsibilities is preparing an estate plan and making sure to provide for your child’s financial needs if something happens to you. As more and more people put Read More

What A Will Cannot Do

It is important to note that this is not a condemnation of a common estate planning tool referred to as a will—just the opposite. The point of highlighting the limitations of a will is so you can fill the gaps it leaves with other documents.  An estate plan is a collection of documents aimed at ensuring your assets are protected and that they are going to the beneficiaries of your choosing. Different documents Read More

Does it matter what kind of trust I have?

Trusts are a valuable estate planning tool. However, choosing the right type of trust for your estate planning needs is important. Revocable trusts have some advantages that make them a better choice for many people. Why it matters which type of trust you choose The type of trust you establish plays a role in how much control you retain over your estate while you are alive. It also affects when and how much taxes you Read More

When To Modify Your Estate Plan

You would have a difficult time finding an attorney who creates estate plans to claim that people don’t need one. That isn’t because they are trying to sell you on something. It’s because they have likely seen and witnessed the consequences of failing to develop an estate plan. Beyond that, there are other mistakes people can make. For example, they build a beautifully robust estate plan—and they never look at it Read More

Is it time to update your plan?

Estate planning is a lengthy process that will often last for a lifetime. The process does not end after the creation of your estate plan, after all. You also need to keep up with management, reviews and updates of the plan. But when do you know that it is time to update your plan? How do you even tell when you should review it? Reviewing and updating every 3 to 5 years According to Forbes, you can look for several Read More

4 ways to pay for the long-term care of an aging parent

As your parents get older, they may require long-term care from a professional. How can you pay for this care for your aging parent? The elderly person’s resources, combined with smart planning, can help create a good outcome. 1. Life insurance If your parent invested in a whole life insurance policy, he or she may be able to access or borrow against its cash value. When a policy includes a long-term care rider or Read More

Protecting your child’s inheritance from his or her spouse

Estate planning requires you to consider many scenarios when divvying up assets. One may concern your children, and more specifically, their spouses. While you may want to leave your children an inheritance, you may not want it to fall into the hands of a spouse. Fortunately, fiduciary tools exist that may help. Discover some of the issues an inheritance trust may solve. Ensure children benefit Creating a trust Read More

Funding a living trust

There are many benefits to a revocable living trust. It is a wonderful way to help you manage your estate while you are still alive and ensure that your heirs receive assets in a timely manner. One of the biggest advantages of a revocable living trust is that it allows you to maintain control of the assets while you are alive but will also help your heirs avoid probate after your death if you fund it while you are Read More

3 ways to avoid probate

When you work on your Georgia estate plan, you may want to make efforts that may help your loved ones and beneficiaries avoid probate. Probate is a sometimes complicated process that involves distributing your assets after you die. When assets go through probate, it often leads to delays in terms of when your intended beneficiaries see them. It is also a public and sometimes expensive process. For these reasons, it Read More