3 Common Estate Planning Mistakes Special Needs Families Make

There is no question that planning for a special needs child as part of your estate is unique. As such, you may overlook many aspects of your estate plan that will affect your special needs loved one. Below are some of the most common mistakes that you can make, and a few suggestions on how you can avoid them. You do not adequately fund the plan. One of the most important aspects of leaving your loved one ... Read More

Why You Need a Durable Power of Attorney

Imagine that tomorrow you suddenly become severely ill or incapacitated. Who would take care of your finances? How would they do it? If you don’t have a durable power of attorney, others -- even your spouse -- may not be able to conduct all your financial business on your behalf. A power of attorney is a legal document authorizing another person (an agent) or financial institution to step in on your behalf to ... Read More

The 4 Key Benefits of a Revocable Living Trust

When most people think of a legal document that will distribute their assets upon their death, the first item that comes to mind is a will. However, a will is not the only document that can accomplish this goal. Trusts can allow you to distribute your property to your beneficiaries in a much more economical and efficient manner in many circumstances. What Is a Revocable Living Trust? A trust is a legal document ... Read More

Are Trusts Still Useful If the Estate Tax Is Repealed?

With Republicans in control of Congress and the presidency, there is talk of eliminating the federal estate tax.  In 2017 the tax affects only estates over $5.49 million, meaning that for more than 99 percent of Americans, it's already been repealed.  With no estate tax, do you still need a trust? While trusts can be used to shelter assets from the estate tax, trusts have many other valuable estate planning ... Read More

Alternative Dementia Treatments Over Drugs

From Elder Counsel, LLC OASIS Study  Antipsychotic drugs are known to have a number of severe side-effects, but they carry even greater risks for the elderly and those diagnosed with dementia or Alzheimer’s. Unfortunately, antipsychotic drugs continue to be used as first-line treatments for the control of challenging behaviors in elderly patients. A 2015 study in JAMA Psychiatry found that elderly patients ... Read More

The Art of the Startup: 4 Essential Things to Consider When Starting a Business

Starting a business is an exciting and often terrifying adventure. Whether you are risking everything or you are using your startup as a side venture, taking the plunge can still be overwhelming. Regardless of your type of business, entrepreneurs all need to consider many of the same kinds of factors when they start a business, many of which have a legal twist. Get your idea down on paper and do some ... Read More

Arm Your Firearms for the Future: An Overview of “Gun Trusts”

Transferring a gun is not like gifting or bequeathing other property. Only certain people are qualified to own guns due to both state and federal laws and regulations. Because of this, transferring a gun through your estate requires special considerations. Passing Guns Through Your Estate The National Firearms Act (NFA) applies to machine guns, silencers, short-barreled shotguns, short-barreled rifles, and ... Read More

What You Need to Know About Short-Term Care Insurance

A little-known insurance option can be an answer for some people who might need care but are unable to buy long-term care insurance. Short-term care insurance provides coverage for nursing home or home care for one year or less. As long-term care premiums rise, short-term care insurance is gaining in popularity. This type of insurance is generally cheaper than its long-term care counterpart because it covers less ... Read More

A Brief Introduction to Your Business Entity Options

Choosing the right business legal structure is an important part of any company. Whether you are a solo entrepreneur or working with several people on a large project, choosing the right legal structure can make or break a business. Below are several legal entity options that you may want to consider if you are just starting out. Sole Proprietorships A sole proprietorship involves one individual who owns the ... Read More

How to Safeguard Your Children’s Inheritance if You’ve Remarried

A recent Forbes article talks about how to protect your children’s inheritance after you remarry. It is common for people to remarry later in life after amassing wealth, but how do you plan for your estate to provide for both your new spouse and the adult children from your prior marriage? It is essential for spouses to spend the time necessary to create an estate plan that protects their children’s interest. One ... Read More