FAST FACTS Approximately 84% of end-of-life-care costs are paid for by a government entity. Nearly 3.5% of these costs will be paid out-of-pocket. End-of-life care may take place in a hospital, nursing home, hospice or assisted living facility. No one enjoys considering what will happen at the end of their life. Unfortunately, if you don't make plans for end-of-life care, you could be stuck with hefty medical bills and pass those bills onto your heirs. As Atlanta … [Read more...]
What Are My Estate Planning Options if my Child Mismanages Money?
FAST FACTS 55% of adults do not have an estate plan in place. More than 90% of people who create wills are over the age of 60. Even a simple estate plan may spend up to six months in probate. It can be quite difficult for a parent to create an estate plan or will in the best circumstances, let alone when they have a child who mismanages money. A parent who deals with a child who can't seem to do anything but throw money away may be leary of leaving them a lump sum or … [Read more...]
How Does Remarriage Affect Atlanta Estate Planning?
FAST FACTS People aged 55 to 64 are statistically more likely to remarry than those younger than that. 72% of people aged 18 to 34 had remarried in 1960, compared to only 42% in 2013. Men are statistically more likely to remarry after being divorced or widowed. According to Time magazine, the current divorce rate hovers around 40 to 50 percent. Of course, depending on your source, you may find studies that show a higher or lower number. Women who marry when they are young … [Read more...]
Should Bitcoin Be Part of My Atlanta Estate Planning?
FAST FACTS 1 Bitcoin (BTC) currently costs about $7,500 (as of July 23, 2018). The current market capitalization of Bitcoin is $131,987,854,796. The average Bitcoin transactions per day equals 8,338. In 2010, a person paid 10,000 units of Bitcoin for two pizzas. It sounds like a good deal --- cryptocurrency in exchange for a tangible item. Today, those 10,000 units are worth approximately $100 million. Bitcoin is still a new kid on the block when it comes to what people think … [Read more...]
Seven Clear Signs That You Need an Elder Law Attorney in Georgia
Often times, people hear about different areas of legal practice and the terms used mean practically nothing in and of themselves. That’s to be expected, of course, since the practice of law often encompasses different areas of legal concern that are difficult to accurately sum up in a one or two-word phrase. One example of this phenomenon is the term “elder law.” If you don’t know what it means, it can be difficult to know whether you need a lawyer who practices in this area of law. While it … [Read more...]
Learn the Rules Governing Georgia Estate Taxes
The estate tax has long been popular fodder for political debate, and has often been the source of confusion for many taxpayers and their families. For individuals who are concerned about how the estate tax might impact their estate planning and their ability to pass wealth on to their heirs when they die, a basic understanding of the current estate tax law can be critically important. If your estate consists of real property, sizable life insurance policies, family farms or businesses, or any … [Read more...]
Why Everyone Should Have a Will
Have you ever just sat around and spent a few hours thinking about your own mortality? Sure, you know on an instinctual level that your time on Planet Earth is finite, but do you ever just think about what happens when you die? If you’re like most of us, the answer to that question is probably a resounding “no!” After all, who has time to wallow in such thoughts when there’s so much life to live and so much that still needs to get done? On the other hand, though, if your focus on life and the … [Read more...]
Georgia Nursing Home Quality: More than a Quarter Receive Low Marks
There was shocking news this week as the most recent federal rankings for nursing home quality were released – a report that compared the quality of different long-term care facilities across the nation. In news that should raise more than a few eyebrows around the state, those ranking found that 27.6% of care facilities in Georgia qualified for only the lowest possible rating of just a single star. That placed Georgia near the bottom of states in the southeast region, with only the state of … [Read more...]
Afraid of Losing Control? Revocable Trusts Could Be the Solution
If you’ve heard that a trust might be the perfect solution to many of your estate planning needs, you’re not alone. Millions of Americans are learning about the benefits trusts can have in their own comprehensive planning efforts. Still, you might be a little bit reluctant to give up ownership and control over your assets by placing them in a trust. Chances are that you’d like to continue to exercise that control for as long as you can, right? Well, revocable trusts could be the perfect solution … [Read more...]
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