While some may choose to purchase an estate planning kit from an online retailer for a small fee, others know that getting valuable information based on their specific factors can make a huge difference.
Many of America’s veterans struggled to find timely and adequate medical care in their communities and the rise of this problem led lawmakers to pass the MISSION Act. The MISSION Act requires the VA to establish higher quality care as well as better access to care.
The Supreme Court ruled in 2015 that each state must recognize same sex marriages as valid, therefore, as it stands under current law, same sex and opposite sex married couples are afforded the same tax benefits on both the federal and state level, so there is no longer a need to draft estate planning documents differently for same sex couples.
The Special Needs Trust Fairness Act allows people with disabilities who have capacity to act on their own behalf the opportunity to create their own special needs trusts. Formerly, these types of trusts could only be established by parents, grandparents or legal guardians of those with special needs.
Many people postpone estate planning under our recent estate tax laws because the high exemptions mean that only the very wealthy actually pay estate taxes. Current exemptions are approximately $11.2 million per person. So, for a couple, the exemption will be $22.4 million until 2026. Keep in mind that true, comprehensive estate planning is about much more than taxes so do not be lulled into complacency over these large exemptions.
There are many choices that you will need to make if you inherit an Individual Retirement Account (IRA) depending on your relationship to the person who left it to you. Since inheriting an IRA impacts you financially and also has consequences on your estate planning and taxes, you will need to get advice from experienced professionals before doing anything with this newly acquired asset.
Unfortunately, seniors tend to make prime targets for scammers because most have assets and good credit ratings and the results can be devastating. They tend get their identity stolen more often than younger generations because they do not monitor online profiles and activity as frequently.
There are many ways that someone can own real property and those are determined by the title to the real estate. Not knowing how your home is titled and not understanding the real property laws and how they work with probate and estate administration can cause significant damage.
How much of your life and data are stored online? Does the information stored online, known as your digital assets, carry any monetary value? Or are your digital assets simply sentimental? For people who make their living creating online content and achieve certain levels of fame, the digital assets may be extremely valuable.
Wandering can be very dangerous for those who are prone to get lost or who find themselves in unsafe or high traffic areas. Here are some tips to keep your loved one safe.
