Do you need a living trust? The short answer is probably not. For those who promote the use of living trusts, the general logic is that this is the single, best document that will help you avoid costly probate proceedings when passing assets to your heirs. And while this technically may be true, in most… Continue Reading
Author Archives: John
Wills are critical if you have children
Do you have a Will? Do you have children? One of the survey’s most surprising findings was that just 36 percent of those with children under 18 have an end-of-life plan in place. This is a potentially devastating oversight. There are two crucial reasons to have a Will when you have minor children. First, if… Continue Reading
Power of Attorney for Health Care – How Important is it Really?
Every adult should have a power of attorney. Powers of attorney work while you are alive, but are incapacitated. If you become incapacitated and do not have a power of attorney a guardianship proceeding will likely be required. Such a process is more complex, time consuming and expensive. The study shows, however, demographic disparities play… Continue Reading
Asset Protection Planning – Perils of Doing it on Your Own
Dealing with long term care planning, and especially asset protection planning, is a daunting process. Very complicated state and federal Medicaid laws and regulations present many pitfalls for those who try to engage in the asset protection process on their own without working with a competent elder law attorney. A 2015 Medicaid case from New Jersey… Continue Reading
Social Security and Medicare Part B Increases for 2017
Monthly Social Security and Supplemental Security Income (SSI) benefits will increase 0.3 percent in 2017. The 0.3 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 60 million Social Security beneficiaries in January 2017. Increased payments to more than 8 million SSI beneficiaries began on December 30, 2016. The Social Security Act… Continue Reading