Often adult children find themselves navigating complex long-term care policies purchased by their aging parents in hopes of maximizing the benefits for much needed care.
In developing estate plans for individuals who have remarried, we often see a need to help the individual provide income for the spouse while attempting to preserve assets for the children after the surviving spouse subsequently passes away.
Family-owned and small businesses need to plan ahead for the owner’s retirement, death, or disability to ensure the business can move forward intact. This is typically a long-term strategy and ranges from simple to extremely complex depending on the individuals involved and the goals.
Most business owners are so busy running their businesses that they lose sight of the importance of having proper estate planning in place. Personal estate planning coupled with a well-thought out business succession plan is a necessity to prevent chaos from occurring in the event of the business owner’s death or incapacity.
The traditional death care industry, encompassing funeral homes, casket manufacturers, and other products and services related to death and burial, has seen profits decline over the last decade.
As parents age, they may need more and more assistance in managing their financial affairs. Adult children frequently step in to offer this assistance.
For many seniors who face moving to a new home late in life, they are forced to face the grief of giving up a home that they enjoyed for years, maybe even decades. This process can be very challenging for all involved.
Elder Law attorneys handle many types of issues such as estate planning, probate, drafting trust agreements, business succession planning, Medicaid and Medicare, and long-term care planning.
A trust is a document created by a grantor that holds assets and appoints a trustee to manage those assets for the benefit of the intended beneficiaries.
Most people tend to think of bringing in a mediator for divorce or contract disputes, but do not realize how beneficial it can be during the estate planning process. The potential for family conflict arises in many estate plans, especially large estates and those with family businesses.
