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Do you have adequate insurance protection? Use your tax refund to cover any shortcomings. assured that you make your tax refund count for the next year is to look ahead and consider any major life Make the necessary adjustments to ensure the money will be put to good use throughout this year and place

possible upcoming changes in laws regarding estate planning, Your Legacy Legal Care will help guide you to ensure

to these documents and give you the authority to make these types of decisions on their behalf, much like Having even the simplest estate plan in place could help prevent you from ending up in a situation like Our team at Your Legacy Legal Care is dedicated to ensuring that you, your loved ones, and your estate are properly protected to prevent you from ending up in a situation even remotely like that of one of

of aches and pains, decreasing mobility, and often some cognitive impairment, some seniors are more likely Money problems are more common among the elderly than we may realize; a great many people live beyond Serious injuries, particularly those resulting from falls, can become deadly to older people who live Generalized neglect Older people who live alone often become increasingly unaware and forgetful. conditions, and end-of-life preparations.

We are all living through uncertain times, and dare I say it – unprecedented times. Nobody knows exactly how the COVID-19 pandemic will continue to impact our lives or when it will end. While the impact of the COVID-19 pandemic has indeed upended virtually every aspect of our modern lives In fact, events like a pandemic highlight the need for advanced estate planning. Should you or your loved ones pass away, you will want to minimize red tape and ensure your savings and

Like it or not, there are things that need to be dealt with—either doing them ourselves in an organized They’re diligent about reviewing their estate planning documents frequently to ensure that they are up-to-date the following: Estate Planning Attorney contact info; Bank and investment brokerage account numbers; Insurance

There are many reasons people put off estate planning, like discussing death and dying. There will always be changes in our lives. Without a comprehensive estate plan much or all of what you’ve achieved in your life could be lost or A good way to plan is to draft your will like you were going to die today. Once you have that done, create a review system to ensure your will remains relevant and up-to-date.

When making decisions on care and insurance coverage for disabled and/or elderly loved ones, it is easy If your loved one with disabilities is a child, you need to ensure that they will be cared for in the A Trust is the best way to ensure your loved one with special needs keeps their care and assistance while A Pooled Trust is a type of fund, much like a bank, in which contributions to the fund are pooled together

There is nothing quite like working hard for a living and sharing what you have earned with your loved allows individuals to write checks or gift cash values up to $15,000 to as many people as you would like DO Offer Rent-Free Living Want to let someone live in your house rent-free? DO Consult with an Estate Planning Attorney Ensuring you are doing the proper thing when gifting to your

.), IRAs, bank accounts, and insurance policies. those named in a will, so it’s important to regularly review beneficiaries, particularly after major life changes like marriage or the birth of children or grandchildren. Health care directive and living will. to access your online accounts—your financial accounts, social media accounts and household accounts like

If you want to remain anonymous but didn’t purchase the winning ticket in one of those states, you have to leverage strategies and legal entities to help you remain more private when you strike it rich. There are two different strategies that are described in Forbes article entitled “How to Remain Anonymous If You Win The $1.5 Billion Powerball.” (1) Blind Trusts. The term “blind trust” has morphed to include a trust or entity that attempts to hide the true ownership from the public and asset searches. Here you create an entity (a trust or LLC) and name it something other than your name. You have 100% control of the trust, assets, and decisions. It doesn’t completely cloak the account, but it can make tying the trust to you more difficult in an asset search. (2) A Trust within a Trust. High profile lottery winners who want even greater anonymity may consider a trust within a trust structure. It’s an advanced strategy that should only be created with a qualified trust attorney. The trust within a trust requires two trusts: First, create a Claiming Trust. It’s called the Claiming Trust because this is the entity that claims the prize. As the winner, you assign the ticket to the trust. This is a short-term trust that simply claims the prize and then distributes the win to the Bridge Trust (see below). The Claiming Trust should have a unique title not related or traceable to you. Although most revocable trusts use the Social Security Number of the grantor (i.e., you – the person setting up the trust), you want to avoid this because state lottery commissions are state agencies, and their records are subject to the Freedom of Information Act. That makes it easy for a reporter (or anyone else!) to request these documents and trace the Social Security Number back to you. For greater anonymity, depending on the state lottery commission’s rules, you may be able to have a limited liability company (LLC) act as the grantor. In that scenario, the winning lottery ticket would be owned by the LLC, and it would be the grantor of the Claiming Trust. If a reporter gets a hold of the Claiming Trust, they wouldn’t see your name—just the name of the LLC. That catch is that some states have requirements when forming an LLC that would identify the name of the person who owns the LLC. So you can see how important it is to work with an attorney who is well versed in the laws of your state. Second, create a Bridge Trust. In this strategy, the lottery proceeds are paid into the Claiming Trust and then almost immediately transferred into the Bridge Trust. The Claiming Trust helps shield the true identity of the winner and makes it hard to determine the true owner. The details of this trust aren’t subject to Freedom of Information Act requests, so your name can be listed as grantor and trustee. However, because the trust name will be listed as beneficiary of the Claiming Trust—and is subject to FOIA requests—don’t name the Bridge Trust with personal information. Reference: Forbes (January 12, 2016) “How to Remain Anonymous If You Win the $1.5 Billion Powerball” #AssetProtection #HoustonEstatePlanning #BridgeTrust #HoustonTrusts #ClaimingTrust #LivingTrust #TaxPlanning #BlindTrust

Unfortunately, though, accidents and crimes sometimes claim multiple lives at once. What does this look like in practical terms? him, and the wife’s heirs would receive her estate as though her husband had died first. Sadly, natural disasters, accidents, and crimes claim the lives of families and their loved ones all By listing your preferences in advance, you ensure your assets are distributed in accordance with your