57% of American adults have not prepared a Last Will & Testament (a “Will”) according to Care.com’s estate planning survey. The survey found that participants were more likely or less likely to have a Will depending on issues such as age, race, and education. For example, when broken down generationally, 66% of people aged 65…
Continue reading ›A special needs child can present many challenges to their parents. One of the toughest challenges faced by many parents is knowing how to best care for their special needs child as they reach adulthood. There are many areas that need consideration when planning for the transition of a special needs child to adulthood. Let’s…
Continue reading ›The characteristics of entrepreneurs include motivation, creativity, persuasiveness, risk tolerance, versatility, vision, innovation, communication, collaboration, flexibility, and decisiveness. These individuals create new businesses bearing most of the risks and reaping most of the rewards if successful. Because of their innate attributes, an estate planning process can be markedly different from others because entrepreneurs often have…
Continue reading ›Most Americans consider real property, like their home, the most significant part of their overall net worth. How the home and other pieces of real property are titled deserves careful consideration. Real estate constitutes the land and any structure, including vegetation, livestock, crops, and other natural resources that sit on the land under the state’s…
Continue reading ›During your lifetime, you spend the first part trying to attain financial security and the second part working to maintain it. This adage is why many people spend substantial time and effort maximizing their legacy goals in their estate plan, ensuring their wishes come to pass. Your life’s work and ability to provide for your…
Continue reading ›Family disagreements about a parent’s end-of-life care and inheritance can get so serious they may end up in a legal filing and court case. You can take steps moving beyond the possibility this might happen and create (or amend) your estate plan seeking to diffuse these potential issues before they become legal challenges. Every situation…
Continue reading ›Legendary talk-show host Larry King married seven women and had five children with many of them. He died at age 87 on January 23, 2021, after contracting Covid and then succumbing to an infection. Immediately after his death, his estate went straight to probate court. If only he would have followed the advice that any…
Continue reading ›In the wake of the Coronavirus pandemic, advocating for your loved one in a nursing home has become more demanding and complicated. Both residents and staff in nursing homes and other long-term care facilities are disproportionately affected by COVID-19 outbreaks. In fact, during the first year of the pandemic, the Kaiser Family Foundation (KFF) reports…
Continue reading ›We hear this question all the time: “Don’t I just grab a will of the internet, do a transfer-on-death deed for my land, use my kids as beneficiaries, and be done with my estate planning?” It’s just not a good idea. For the plan to work as you would want it to, it should account…
Continue reading ›Business closures related to COVID-19 have caused record unemployment rates for business owners and their workers, many of whom are over 50 years old. Though workers of all ages have felt the effects of unemployment or reduced working hours, older workers will fare worse upon re-entering the workforce. Research shows the recession of 2008 found…
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