When setting up a trust as part of your estate plan you may choose a family member to serve as trustee or a professional trustee from a corporation, trust company or law firm. Regardless of your choice of trustee, the trustee should be compensated for their services.
Should adult children be financially responsible for their aging parents? Historically, the answer was yes. Known as filial-responsibility laws, it was once a legal requirement for family members to support indigent relatives.
The findings from a 10 year study by the Journal of the American Medical Association (JAMA) have reported a link between hearing loss and health risks. The risks include a 50% greater risk of dementia, a 40% greater risk of developing depression and a nearly 30% higher risk of accidental falls.
Often when a senior loved one is experiencing memory loss or general issues with cognitive functioning, they may also have difficulty with word recall. Word finding difficulties are a common symptom of early stage Alzheimer's but there are many other possible causes to be considered as well.
Due to the COVID-19 pandemic, unemployment rates in Maryland are at an all-time high which leaves many Maryland residents looking for ways to improve their cash flow. For those who are due an inheritance following the death of a loved one, it is possible to apply for an inheritance loan to receive cash to provide support and maintenance.
Most people know that under certain circumstances a Last Will and Testament may be contested by those with standing to contest. . A person who has standing to challenge a will is typically someone who is named on the face of the will (such as the beneficiary) or someone who is not the beneficiary, but who would inherit (or lose) under the will if the will is deemed invalid.
At this time last year we could not have imagined a lot of what transpired in 2020. As a result, many Americans are experiencing high levels of anxiety surrounding issues of estate and financial planning.
Most people think of bank accounts, retirement accounts and real estate when they think about estate planning. Few realize that many other types of items can be passed down for future generations.
With baby boomers aging, a massive transfer of wealth will occur over the next 25 years. It is estimated that over 60 trillion dollars will transfer to future heirs of this generation.
