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Parents often face many challenges when preparing an estate plan, as they must consider how best to provide for their children after they are gone. Parents of a child with special needs, though, are faced with several unique challenges. They will want to develop a plan that safeguards the quality of the child’s life, supplementing [...]
Continue reading...Creating an estate plan for one’s family can be a difficult and complex process. However, receiving an inheritance can be almost as difficult as creating an estate plan, as there may be many challenges and questions that arise.
When you receive an inheritance, you will have to consider the effect this will have on your [...]
A child with special needs deserves a parent’s continued stewardship and guidance, even if the parent becomes incapacitated or passes away, and the following estate planning documents are key to ensuring the child’s security.
(1) A last will and testament.
(2) A general durable power of attorney (“GDPA”). This document designates an agent to act on an individual’s [...]
Same sex couples often encounter unique estate planning issues, as their unions are not recognized in most states, and are, therefore, not legally protected. There are, however, estate planning options open to same sex couples that can provide them with the security they need.
Living trusts are one of the best options for same sex couples [...]
The recent repeal of the federal estate tax is having a profound impact on the estate plans of millions. Littman Krooks LLP is offering a complimentary estate tax seminar for those who wish to learn more about how they might be affected.
This repeal has the potential to affect the estate plans of [...]
It is important for all parents to plan for their child’s protection and care in the future and having an estate plan will ensure this kind of protection. Estate planning when an adopted child is involved is often a complicated process, as it involves a number of factors that are not necessary when planning for [...]
Continue reading...Many veterans may be eligible to receive nursing home benefits from the Veterans Administration. The VA currently provides nursing home care to veterans through three national programs: VA Community Living Centers (CLC), state veterans’ homes that are owned and operated by the states, and the contract community nursing home program.
Community Living Centers offer [...]
The Veterans Administration’s Improved Pension Program (IPP) includes a basic benefit that is open to many low-income United States veterans or their surviving spouses. Many veterans are simply unaware of this benefit, or think that they do not qualify because the benefits of this program are dramatically different from other VA programs. This is because [...]
Continue reading...According to the Pew Research Center, currently around 30% of adult children in America contribute financially to the care of parents. Expenses range from medical care to assisted living care to simply making sure the household contains enough food. As a result, plans for one’s own future care may need to include plans for the [...]
Continue reading...When drafting a Will or trust document it is always important to consider multiple contingencies. One such contingency is the possibility that the primary beneficiary of your estate will not survive you. If a new beneficiary is not named, by default the state will decide how assets and property are to be distributed, according to [...]
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