So, you just had a talk with an elderly relative and discovered that he wants you to act as the executor of his will. Of course, your natural first reaction is probably some combination of surprise and self-satisfaction – surprise that you were selected, and self-satisfaction derived from knowing that you have an opportunity to help him with this important task. Still, there is much to consider before you jump headlong into the great unknown and agree to take on the role. First, you need to ask … [Read more...]
Manage Your Estate and Tax Planning with the Experts
For years, the primary focus of most individuals who utilized estate planning was on ways to reduce estate taxes and ensure that more of their estate went to their heirs rather than the government. As the estate tax threshold increased from 2004’s $1.5 million to its current $5.45 million level, fewer Americans have had to worry about being subject to that federal estate tax requirement – or so it would seem. For Americans with business interests, high-value life insurance policies, and similar … [Read more...]
How to Avoid Atlanta Probate Court
If you’ve ever seen those advertisements from companies that offer to provide you with an advance on your expected inheritance in exchange for a fee, you may have wondered why anyone would ever bother to respond. The reason there’s a market for those kinds of services can be explained in one word: probate. The probate process can take anywhere from six months to more than a year, and many heirs simply cannot wait that long to access their inheritance. That’s especially true where the deceased’s … [Read more...]
The Best Strategies for Protecting Assets from Nursing Home Costs
If you’re like most people who find that they need nursing home care, chances are that you’re a little taken aback at the cost. Long-term care costs have been on the rise for some time now, and many seniors now face per day costs that can exceed two hundred dollars. Few seniors have amassed the type of wealth required to pay nursing home costs of six-thousand dollars a month or more! And while some seniors are already sufficiently impoverished to almost automatically qualify for programs like … [Read more...]
Protect Your Assets with the Family Trust
When most average Americans hear words like “family trusts” they often find their minds wandering to images of wealthy families flying around the world and entertaining celebrities on yachts in the Mediterranean. They seldom think of themselves. That’s a mistake, though, since trusts have come a long way in the last several decades. While they were once the prerogative of only the truly rich, today those estate planning tools are a valuable resource for anyone who wants a better way to manage … [Read more...]
Dealing with the Cost of Private Nursing Homes
No matter your age at this moment, the fact is that long-term care may be something that you’ll have to contend with at some point in the future. By some estimates, more than half of today’s adults will need such care at some time in their lives. The problem is that most of them won’t be able to pay for that care on their own. Nursing homes are more expensive than ever before, and those costs are rising with each passing year. The good news is that there are ways of dealing with the cost of … [Read more...]
Creating a Trust: Making the Right Moves for Your Estate Planning Needs
When it comes to estate planning, mediocre efforts are never enough. While there are some who might think that the Last Will and Testament is more than sufficient to take care of their planning needs, the reality is that it takes much more than that to effectively protect your assets, safeguard your interests, and provide for your heirs. The living trust is something that should be considered as well. With a trust, you can take care of many of those important planning objectives that you simply … [Read more...]
News Report Might Make You Wonder: Are Your Advance Directives Enough?
Many seniors and their families have been repeatedly reminded about the important role that legal directives like the power of attorney and living will play when it comes to ensuring that their interests are protected when they can no longer make decisions for themselves. Most people have assumed that once they have those documents in place, then their wishes have to be respected when incapacity strikes. If you’ve been relying on your advance directives to safeguard your interests, you might … [Read more...]
Can DIY Wills Replace Professional Will Services?
We’ve all seen them at one time or another: those do-it-yourself wills that are available for download on the internet and sold in many stationary stores. They’re all the rage these days, as people look for the easiest way possible to get some sort of estate planning done. For many who choose these tools, it’s simply a matter of convenience. With no need for a visit to an attorney’s office – and no lawyers’ fees to speak of, nothing could be simpler. And, of course, there are all those online … [Read more...]
Learn How to Pay for Nursing Home Care the Right Way
Georgia seniors who need nursing home care are often shocked to discover that the cost of that care can average as much as $65,000 a year. In many cases, that’s far more than seniors earned each year while they were working, and few have amassed sufficient savings to cover those costs in their later years. It’s no wonder so many elderly Georgians turn government programs for assistance with those high care costs, as friends and family are often unable to provide more than token help. Still, to … [Read more...]
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