Since the laws have changed to allow a grandparent to fund a 529 plan for education expenses without it negatively impacting the student’s ability to qualify for federal financial aid, many grandparents are seriously considering this gifting option. Many still wonder about the flexibility of the plan and what it can actually be used to buy.
Digital assets are often overlooked during the inventory phase of creating business succession plans and personal estate plans. Many digital assets can be quite valuable and need to be properly identified and protected.
Caregivers, whether paid or family members, who deal with seniors experiencing dementia related symptoms often wonder how to best manage psychiatric symptoms such as paranoia, hallucinations and delusions. Many psychiatrists advise that trying to argue or rationally explain the incidences is not the best approach.
Estate planning can be complicated for harmonious families but can be especially difficult when there are family members who suffer from addictions, cannot properly manage money or are estranged from the family altogether. With the rise of drug addictions in the United States, this scenario is becoming increasingly and alarmingly common.
Maryland law divides probate estates into two types – small estates and regular estates. You must first determine which one fits your situation to know which steps to take next in the probate process.
Many grandparents look for ways to transition wealth to younger generations in a manner that helps out the families. Working parents may be struggling to pay the soaring tuition rates and one way grandparents can contribute is to set up 529 college plans for their grandchildren.
Art therapy uses various types of creative arts to help seniors cope with stress. While there are professional art therapists, taking regular art classes and engaging in independent creative activities produce similar benefits.
Many parents creating their estate plan may look for ways to adequately provide for their minor children if they pass away. One strategy is to create a common pot trust which allows you to pool certain assets that can be used for the benefit of multiple beneficiaries.
If you fail to create a business succession plan, when you die your business becomes part of your probate estate. Your business can lose significant value during the time it takes to probate your estate.
