In February 2020, the World Health Organization (WHO) gave name to the disease-causing the 2019 novel coronavirus outbreak. The coronavirus disease 2019 shortly after became known by its abbreviation, CO for corona, VI for virus, D for disease, and 19 for the year of...
Couples often bring children into a marriage from a prior marriage or union and then have children together. This is often referred to as a blended family. Blended families highlight the need for careful estate planning to make sure the needs of each spouse are met,...
Turning 65 years of age is a milestone on we all hope to achieve. Before this birthday, there is a hefty checklist that you need to address to continue aging successfully. Overall the most crucial thing to do before turning 65 is to invest your time wisely crafting...
Wills and trusts have differentiating and specific benefits for the purpose of estate planning. Each state has specific laws and regulations governing these legal documents. You can have both a will and a trust; however, the information in each should compliment the...
The gift tax is a tax on the transfer of assets, cash or property, to another without receiving something of equal value. The asset has to be of a certain value for the tax to apply; otherwise, it falls under the gift tax exclusion, either annual or lifetime. If the...
An inheritance is often the source of costly mistakes related to Medicaid which should be avoided. When a person is drawing Medicaid benefits and inherits money or property, that inheritance jeopardizes the benefits. The inheritance must be handled carefully to...
Who should you trust to manage your finances if you become unable to do so? A power of attorney (POA), otherwise known as an agent to your principal, has the legal authority to represent and make decisions on your behalf. What characteristics should you look for when...
Writing a letter of intent (LOI) for your special needs child can help bring them continuity and comfort after you are gone. As a parent, the most valuable asset your child has is you and your ability to care for them. You, like no other, fully understand the nuances...
It’s unfortunate that seniors are common targets for financial abuse and scams. Sadly, the elderly are often taken advantage of by strangers – and sometimes even their own family members. That’s why it’s important that planning is in place to help seniors protect...