Preserve Your Legacy

Estate Planning | Elder Law | Special Needs Planning

Blog Posts in February, 2011

  • TO CONVERT OR NOT TO CONVERT: THE ROTH IRA

    Roth IRAs have wonderful benefits: tax free growth and tax free distributions. So, when you have the opportunity to convert assets from a traditional IRA to a Roth IRA, should you make the conversion? Here are some considerations that will help you to decide: Zero tax bracket : If a full conversion or partial conversion can be offset by deductible losses (i.e. business losses, mortgage interest, ...
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  • YOUR ESTATE PLANNING: WHAT TO HAVE AVAILABLE TO YOUR HELPERS

    If you’re like most people you know that your trusted helpers need access to your estate planning documents. However, you may not realize that your helpers need access to other information as well so that they can carry out your wishes if you become disabled or die. Your estate planning helpers are the trustee of your trust, the executor of your Will, and your agents under your Power of Attorney ...
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  • DO I NEED A WILL?

    If you’re like a lot of people you know you should have a Will and feel guilty that you don’t have one. There’s another large group of people who don’t know if they need a Will or they think that they don’t need a Will. Which group are you in? Okay, first of all, EVERYONE, age 18 or older, needs a Will . Yes, everyone. Even you need a Will; no matter what. For those of you with trust planning, you ...
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  • LET YOUR CHILDREN KNOW YOUR INTENTIONS AND KEEP PEACE IN THE FAMILY

    It is common for families not to talk about such things as what they will inherit when mom and dad is gone. This type of conversation can be uncomfortable for parents, and make children feel as if they are doing something wrong for even thinking about such things. As a result the subject is often swept under the rug until the time comes that there is no choice but to talk about it. This can lead ...
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  • Somebody's Sweetheart

    The month of February and Valentines Day brings a celebration of love and stirs couples to rekindle feelings of romance and devotion. Not so different from young couples are aging seniors, celebrating memories of sweethearts and romance in days gone by. Sit a while with a senior couple and they will soon be telling you their romance story or listen to a widow or widower as they sing their favorite ...
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  • The Power of Attorney Is Not a Magic Wand

    The power of attorney is a powerful document; likely the most powerful legal document that you’ll ever sign. However, it is not an all powerful magic wand. The power of attorney has limits. Not a Magic Wand The power of attorney is not a magic wand because it’s not always honored, especially if it’s older or the signature looks scribbled. It is common place for a power of attorney to be refused ...
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  • How to Choose a Nursing Home: Suggested Questions

    Choosing a nursing home for a loved one is a highly stressful experience. Both emotions and finances are involved. Having counseled numerous families during these difficult times, I understand your feelings and am providing these suggested questions to guide you in choosing a nursing home. Do I like the location? Is the nursing home facility near loved ones, friends, church, and favorite places ...
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