Preserve Your Legacy

Estate Planning | Elder Law | Special Needs Planning

Blog Posts in March, 2011

  • COMMON ESTATE PLANNING MISTAKES

    When creating an estate plan, it is important to make sure that it is accurate and effective. Below is a list of some of the common estate planning mistakes that are made. It is in your best interest to speak with an estate planning attorney to start your planning and to take the time to avoid the following mistakes. Putting off planning or not planning at all. Many people wait years to start ...
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  • WHO NEEDS ESTATE PLANNING?

    Many people assume that they do not need estate planning. The truth is everyone needs estate planning! No matter what your life experiences, if you are over the age of 18, you need planning. Take a look at the following list of people who benefit from the use of estate planning. Speak with an estate planning attorney today! Families who have young children Young couples who have just gotten ...
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  • WHAT IF EVERYTHING YOU THOUGHT YOU KNEW ABOUT WILLS, TRUSTS, ESTATE PLANNING AND MEDICAID WAS DEAD WRONG?

    JOIN US FOR A FREE WORKSHOP THIS WEEKEND TO LEARN THE FOLLOWING: Elder Law and Medicaid Planning Medicaid needs arise when you least expect them. Americans are living longer than before. At the turn of the 20th century, life expectancy was about 47 years. In the 21st Century, life expectancy has doubled. As a result, we face more challenges and transitions in our lives than those who came before ...
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  • PLAN ADVISOR MEETINGS

    Estate planning takes a team effort. This is the perfect idea to plan and schedule important meetings at the same time. This includes scheduling meetings with an estate planning attorney, insurance professional, CPA, and financial advisor. If you take the time to schedule these meetings over the next few weeks, you will be well on your way to beginning to creating the future you want. 1. Don’t let ...
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  • HOW PROPERTY OWNERSHIP AFFECTS YOUR ESTATE PLANNING

    There are different ways to own property. It is important to understand how each form of property ownership affects your estate plan. Knowing how each ownership impacts your estate plan, can allow you to make better estate planning decisions. Below are descriptions on the three main ways to own property. Individual Name If you are not married, most of your property will probably be owned in your ...
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  • SHOULD YOU BE AN ORGAN DONOR?

    Along with authorizing organ donation with the use of a donor card (often your driver’s license,) you can state your organ donation wishes in your estate planning documents. This can be done in a separate organ donation form. Take the following things into consideration when considering implementing organ donation into your planning. By donating organs and tissues, you can help contribute to ...
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  • WHAT IS INCAPACITY PLANNING?

    If you’re like most people, you may not be familiar with the concept of incapacity planning. Incapacity planning is simply preparing for the time that you may be unable or unwilling to make your own day to day decisions. Estate planning encompasses incapacity planning. When would I be incapacitated? Incapacity refers to the time when you would be unable to manage your finances, medical decisions, ...
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  • FAQ: ESTATE PLANNING (PART 2 OF 2)

    If you’re like most estate planning clients, you have lots of questions. Here are answers to some of the most frequently asked estate planning questions. What is asset protection? “Asset protection” means assets cannot not be taken by a creditor in a lawsuit. You can provide asset protection for the assets you pass to your beneficiaries by passing them in a carefully structured trust, as opposed ...
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  • FAQ: ESTATE PLANNING (PART 1 OF 2)

    If you’re like most estate planning clients, you have lots of questions. Here are answers to some of the most frequently asked estate planning questions. What does “pay on death” mean? “Pay on death” or “transfer on death” both mean that a named beneficiary receives the asset upon the owner’s death. Pay on death is abbreviated “POD” and transfer on death is abbreviated “TOD.” What’s so bad about ...
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  • AVOIDING PROBATE

    Many people know that they want to avoid probate, but don’t understand the benefits of doing so. “Probate” is a process in which a court validates a will. In addition, the entire process of administering an estate is called a probate. Probate can be an expensive and long process, so if you are like most people, you will want to avoid it. Jointly Owned Property Jointly owned property avoids ...
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  • DYING WITHOUT A WILL IN NEW YORK

    It would be in your best interest to have a will (and a complete estate plan.) If you die in the state of New York and you don’t have a will, the state will create one for you. In our experience, the state’s will isn’t one you’d create for yourself. Dying intestate “Dying intestate” means that you die without a will and that the state of New York decides who administers your estate, raises your ...
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