Third-Party Special Needs Trust helps care for loved ones

Caring for children is a full-time job, especially when that child has special needs. To provide for the child, one of the most helpful trusts we recommend for our clients is the Third-Party Special Needs Trust. Federal law specifically authorizes this trust, which can provide for your child without penalty. This means that creditors have… Read More »

Revocable Trusts Provide Control and Protection

This article is Part 1 in a series that explores the various types of trusts that may benefit you. Today’s topic is revocable, or living, trusts. When it comes to control, protection and privacy, there is nothing better than a revocable trust as the centerpiece of your estate plan. Benefit 1: You Can Drive It… Read More »

Helping You Have ‘The Talk’ With Elderly Parents

It’s one of the most uncomfortable topics you may face, and one of the most important – discussing your parents’ financial situation. In many ways, it’s easier for parents to talk about the “birds and the bees” with their own kids than it is to talk with elderly parents about money. The latter conversations turn… Read More »

For Money or Culture, Generations Are Living Together

For reasons both cultural and financial, Americans are living in multigenerational households in numbers not seen since the 1930s, The New York Times recently reported, and it shows no signs of changing soon. Grandpa’s teeth in a cup on the vanity. Suzie’s soccer cleats on the back porch. Mom and Dad cooking dinner for six…. Read More »

How To Maintain Harmony Among Your Heirs

Sibling rivalry is as old as time. It was true in Cain and Abel’s case, and it’s true today. One area of sibling discord is inheritance, and as The New York Times recently reported, deciding how to divide assets is one of the most difficult things parents – you – have to undertake. When deciding… Read More »

Self-Neglect Top Cause of Elder Abuse

The words “elder abuse” often suggest frightening scenarios of a relative stealing an incapacitated senior’s savings, or a caregiver being physically abusive. As troubling as theft and violence are for the elderly population, they are eclipsed by the effects of self-neglect, reported in a recent article in The New York Times. Self-neglect means someone’s behavior… Read More »

Pour-over wills ensure safe transfer of assets

An Alabama court recently unsealed American novelist Harper Lee’s will after The New York Times filed a lawsuit to review the document. Lee, who was 89 when she died in 2016, set up a living trust in 2011. Author of the Pulitzer Prize-winning novel, “To Kill A Mockingbird,” Lee directed that her estate – including… Read More »

Estate Planning Tips for Blended Families

Blended families bring an extra challenge to estate planning. Divorce and remarriage are common occurrences, and often heirs are concerned that they may be forgotten. Here are some tips which may help you resolve some financial concerns in blended families. Consider a prenuptial agreement A prenuptial agreement with a new spouse can protect your goals… Read More »

What If Nobody Wants Your Stuff?

Are you a baby boomer who’s part of the generation of “super collectors”? Have you accumulated fancy dinnerware, furnishings, and decorative objects representing decades of style trends? The number of “family treasures” a person can collect over several decades can be overwhelming! Outside of items you purchased, have you held onto gifts from weddings, birthdays,… Read More »