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Estate Planning. Look at your estate plan and make sure it’s current. According to a recent survey, just 19% of investors take the opportunity to develop or assess their estate 3 things to think about” #AssetProtection #IRAs #CharitableGiving #TaxPlanning #RetirementPlanning #estateplanning

Contact the Texas Estate Planning Attorneys at Your Legacy Legal Care By working with a knowledgeable and experienced Texas estate planning attorney, you can better understand the estate planning process understand the emotions, confusion, and frustration that can come from not having a plan for one’s estate

Tenants in common, by contrast, have their shares of an asset become part of their estate. This situation can be complicated, so speak with an estate planning attorney. Adding a spouse as a joint owner on most assets – like bank accounts, investment accounts or real estate Reference: MoneySense (May 10, 2016) “Joint tenancy vs. tenants in common” #JointTenancy #AssetProtection #EstatePlanningLawyer

If you have three grandchildren, that’s $42,000 a year that you can exclude from your estate. An estate planning attorney can help evaluate if a trust is a better option all around.

They also need to think about estate planning, buying insurance, and keeping a close eye on their credit

However, last fall Redstone removed her as his health care agent and ordered that his estate pass to

Elder law attorneys who are also well-credentialed in estate planning can assist you plan for retirement , establish trusts to protect assets from excessive taxation, creditors, or impulsive spending, and making

Reference: Kiplinger’s (August 2016) “6 Tax-Smart Ways to Lower Your RMDs in Retirement” #AssetProtection #EstatePlanningLawyer

“I don’t know what will happen to the things I have in the Cloud or Facebook when I die,” said Paul Savides from Eau Claire. He believes it’s very important that the state create a way of protecting the privacy rights of those people who have those things online after they die. Our digital footprint is fairly permanent, but we are not. “If there’s a way we can modernize our laws, streamline this, and create a system, we can try and take some of that stress off of people as they’re navigating already emotional territory,” said Rep. Melissa Sargent (D) Madison. Representative Sargent said she wants to bring Wisconsin law up to date with technology by getting a bi-partisan bill through the State Legislature that is aimed at protecting individuals’ online assets after they die. The definition of “property,” of course, continues to evolve over time in this more technological and more digital world in which we live. The bill tries to remedy that issue. The bill allows users to provide their account information to someone designated by them for management after they pass away. For example, Facebook has designed a legacy setting that permits users to do this. However, in the absence of those types of settings, a will or power of attorney could be used. Digital assets frequently have great value, so it’s critical for individuals to make certain that their property is protected. Wisconsin’s legislators feel that we should at least have that fiduciary standard in place to protect that data, so it’s not just released to someone only because they’re a family member. This bill, they believe, would be a solid first step in tackling the modern day issue of digital property. The bill is heading for approval in the State Senate. Reference: WEAU.com (February 25, 2016) “Law aims to protect internet users’ digital property after death” #AssetProtection #HoustonEstatePlanning #DigitalAssets #PowerofAttorney #Wills

’s (April 20, 2016) “Rolling over Retirement Savings to a Health Savings Account” #AssetProtection #EstatePlanningLawyer

responsible for the unsolved murder was intentionally hurtful and has no bearing on their fight over the estate The will leaves $8 million to the United States Holocaust Memorial Museum and the remainder of her estate DNA Info (November 19, 2015) “Keep My Mother’s Murder Out of Our Family Court Battle, Daughter Says” #EstatePlanningLawyer

Most families just aren’t prepared for the financial burden of dementia. They assume that Medicare cover all of the expenses. Not so. Patients and their families don’t realize that isn’t the case. Plus, everything gets more complicated when an individual has dementia. For example, if a dementia patient in a nursing home gets a fever, the staff may say that they aren’t equipped to handle it. They call 911. The patient is then admitted to the hospital. This can lead to complications for the patient suffering from dementia. They may get delirious and confused, slip or fall out of bed and sustain injuries, or they choke on their food. This can cause medical costs to sky-rocket. There are large disparities in out-of-pocket costs for the three diseases. Medicare covers discrete medical services like office visits and acute care, including hospitalization and surgery. These are the types of expenses experienced by cancer patients and heart patients. Those patients usually don’t need full-time home or nursing home care until the very end of their life, if at all. As a result, they don’t see that continuing cost. On the other hand, dementia patients need constant care for years. In addition, these dementia patients may not be sick enough for a nursing home, but they still will need supervision and care. When dementia patients are sick enough for a nursing home, the cost is not covered by health insurance. More than half of patients with dementia— with three-quarters of those from racial minorities—spend down, using savings to pay for the nursing home until the money is all gone. After that, Medicaid takes over. Talk with an experienced elder law attorney about care for the elderly, Medicaid, and dementia. He or she will have ideas on how to best address your family’s situation. Reference: The New York Times (October 26, 2015) “Costs for Dementia Care Far Exceeding Other Diseases, Study Finds” #PayingforaNursingHome #HoustonAssetProtection #MedicaidTrustPlanning #MedicaidPlanning #HoustonElderLaw #HoustonElderLawAttorney #Medicaid #HoustonTrustPlanning #Dementia #MedicaidNursingHomePlanning #LongTermCarePlanning