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In the wake of the pandemic, rising inflation, mass shooting tragedies, and other events, more people recognize that they need to plan for the future. Yet while financial planning has been at the top of many Americans’ minds, a vast majority of people have stalled in creating an estate plan. According to a new study…

A Roth IRA does not have to be used as just a retirement plan; it can also be a way to transfer assets tax-free to the next generation. Unlike a traditional IRA, contributions to a Roth IRA are taxed, which means that the distributions are tax-free. Also, unlike a traditional IRA, you are also not…

Seniors and disabled citizens will receive more access to the Medicare Extra Help Program as of the beginning of 2024, the federal government announced. This expansion of benefits could enable up to 3 million people to reduce their prescription drug costs. What Is the Medicare Extra Help Program? The Medicare Extra Help Program assists older…

Elder law attorneys may specialize in estate planning, incapacity planning, and end-of-life care for seniors. They also help older adults remain in their homes as they age and protect them from abuse. These practitioners are essential because they work to protect a vulnerable population. To plan for their future and their care, seniors and their…

Estate planning is an important consideration for all couples. However, for LGBTQ+ couples (or former couples), it may be more important than they realize to review their circumstances and see whether they have an estate plan that accurately reflects their wishes. In 2015, the U.S. Supreme Court ruled that same-sex couples may exercise the fundamental…

When discussing estate and Medicaid planning, the phrase “life estate” is sometimes mentioned, but what does it mean? A life estate is a form of joint ownership that allows one person to remain in a house until their death, when it passes to the other owner. Elder law attorneys use life estates to help their…

In creating an estate plan, you are proactively taking steps to ensure that your assets will be distributed according to your wishes in the wake of your death. One tool available to you in estate planning is known as a trust. There are numerous kinds of trusts. If you wish to maintain control, during your…

When people pass away, they leave behind assets, property, and possessions that can have sentimental and real value for surviving family members and loved ones. Everything that an individual owns upon their death is known as their estate. According to Estate Exec, the average size of an estate is between $50,000 and $250,000. Eleven percent…

Outlining your wishes for burial and funeral arrangements can be something you include in your estate plan. And though it may sound jarring, human composting is in fact a death care alternative that is increasing in popularity. As more people look to adopt environmentally sustainable practices not only in life, but now also in death,…

When working with an attorney to prepare for your future and address the challenges associated with aging, you will likely come across the term “incapacitated.” Incapacitated Definition Someone who is incapacitated cannot make personal decisions or understand legal documents. An incapacitated person requires a surrogate decision-maker, such as an agent under a health care power…