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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

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

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

As their loved one, you likely want to continue being able to care for them and look after them, yet assume that they will be able to continue to act as their child’s legal guardian during their entire life has an appointed guardian can guarantee their well-being long into adulthood so they can continue to live the happy, care-free, loving life that they deserve.

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

died after the mail carrier reported that he had not greeted her at the door for the previous week like This is why it is critical to do more than talk to your family about your end of life wishes, or half-way

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

.), 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

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.

reasons for establishing a guardianship include the failure to execute alternatives to guardianship like attorneys, trust or other alternative decision making tools, or the inability of supports and services like increasing number of guardianships in Texas, many can be avoided by doing essential estate planning tools like wills, power of attorneys, and living wills. court assesses their ability to execute alternatives to guardianship and whether supports and services like

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.

The question to ask is whether you should simply leave it to your kids like the Vanderbilt family, or should you be more deliberate like the Rockefellers? Talk with a qualified estate planning attorney so that your estate endures more like the Rockefellers