Month: October 2021
What are ADLs in a long term care insurance policy?
As you approach your senior years, you probably wonder how you will receive care if you become disabled or mentally impaired. You know your current health insurance will not cover care costs like a nursing home or assisted living. This is why some people apply for a...
Proposed changes could impact federal gift and estate taxes
Many New York residents have a goal of earning and saving enough money to provide for their own needs through the ends of their lives. If they are able, they may also try to save and invest so that when they die, they are able to leave something of value to their...
Why you need to know about testamentary capacity
The best estate plans are specific and clearly articulate how an estate should be handled and distributed when the time comes. Yet, fights over estate distribution come up all the time, especially when a significant number of assets is involved. That may make you...
How can you make an efficient estate plan?
Estate planning is an excellent way to provide instructions for everything from your desires for medical care to how you want your assets distributed. Thoughtful strategizing can optimize your plan. Having an efficient method may prevent confusion and discord for your...
What can your loved one buy with special needs trust funds?
The future is uncertain. That can be an uneasy feeling under any circumstances, but it can be especially concerning when you have a special needs child who will need care and support even after you’re gone. As we’ve discussed previously on this blog, a special needs...
The estate executor has a big job to do
When you write your will, one of the decisions you need to make is who to name as your estate's executor. Although you may see this as a minor decision, you must realize that the role is an important one. The job of the executor is to manage the estate after your...
Planning for the future when you have young children
Although it is an important part of estate planning, many people put off writing a will or taking any other steps for future planning. However, once children come along, it is imperative that parents begin to take some action. There are various things to think about...
Caring for your parents in their senior years
Watching your parents age and seeing their independence fade can bring feelings of sadness and uncertainty. Thankfully, you have the chance to participate in their care. Knowing how to provide for the needs of your parents can increase your confidence. With your help,...