Peace Of Mind & Special Needs Trusts

There are numerous benefits and reasons why someone with a physically or mentally disabled child should create special needs trust. There are scenarios in which having too much money or assets causes more issues than it solves.  An example of this is when someone needs Medicaid to pay for long-term health care. They possess too many assets to qualify, but they don’t have enough money to pay for a nursing home. A Read More

Discover The True Cost Of A Missed Update

Your estate plan is a living document. When your life changes, so should your estate plan. One of the biggest reasons someone may choose not to make updates is the cost of doing so.  Ironically, it is less expensive to do it right the first time. In addition to failing to modify your estate plan, other everyday things could result in poorly-crafted plans—choosing the wrong attorney for one. There are several avenues Read More

Protect Your Assets When You Go To Nursing Home

Most people understand what is called “black-letter” law. Black-letter laws are the basic rules of law that govern a given situation. The information is there, but many fail to understand that there are also exceptions to the “black-letter” law, and many fail to take advantage of it. The key is to not only understand the black-letter law, but also understand the exceptions and how to combine these to accomplish your Read More

Considerations Before You File For Social Security

You can file for Social Security at the age of 62—but should you? Or you could wait until your full retirement age (FRA), which depends on when you were born. For example, people born between 1943–1954 reach FRA at 66. Anyone born in 1960 or afterward won’t be eligible for their full benefits until 67.  Another thing to consider: every year you delay filing for Social Security beyond your FRA, you receive an 8% Read More

You Are Likely Making This Common Mistake

Estate planning is not only for the rich or elderly. It is for you and everyone else. Most people think they are either too young to create an estate plan, or they underestimate the size of their estate. Many fall under the misconception that they don’t have enough to warrant the need to develop a will or a trust.  At the very least, consider the following: if you pass away without first developing an estate plan, Read More

These Are The Responsibilities Of Your Trustee

You are being responsible, and you’ve decided to develop an estate plan. While you have been studying what’s included in creating one, you have landed on establishing living trusts. But what exactly is this and who should you appoint as a trustee? Put yourself in a better position to make the right decision by understanding what trust is and what a trustee does. Or perhaps you are here because you might become a Read More

Estate Planning After a Dementia Diagnosis

Alzheimer’s dementia is a disease that millions of Americans are living with, and its effects are felt by their loved ones as well. When someone you care about receives this diagnosis, it can be very difficult to process and accept.  Instead of focusing your attention on what you can’t control—the disease—shift your priorities to what you can. Look for ways you can take care of and support the people who are unable Read More

New Year’s Resolution: Why NOW is the Right Time to Start Planning

While it’s impossible to predict the future, one thing is for certain - If we don’t plan for it, life can be difficult for our loved ones when we pass away. This is why creating an estate plan is something we should do sooner rather than later. Many people hold off on creating an estate plan because they believe they don’t have a big enough estate or are simply too young to worry about things like wills and Read More

Five Tips for Alzheimer’s Caregivers

According to Caregivers.org, there are 15.7 million adults across the United States who are taking care of a loved one with Alzheimer's disease or another form of dementia. These conditions have no cure and the few medical treatments available can only control symptoms to a limited extent, so being there for your family member makes a huge difference in their quality of life. Although there are rewards, there are Read More

Noticing the Subtle Signs: Our Guide to Recognizing Early Indications of Dementia

It’s a diagnosis many dread and fear, but the truth is that when dementia touches you or a loved one, knowing as early as possible gives you the power to plan. At Elder Advisors Law, we urge our clients and their families to be on the lookout for signs of dementia, while also understanding dementia’s complexities and the reality that a little forgetfulness here and there isn’t necessarily cause for alarm. We hope Read More