In this overview of estate planning for cognitive decline, we examine signs of dementia and the role of estate planning in protecting our aging loved ones. The National Institute on Aging (NIH) article, “Managing Money Problems for People With Dementia,” sparked our discussion on estate plans and cognitive decline. It is becoming more common for families to encounter challenges and new issues in needing to help loved ones safeguard assets from fraud and exploitation. This article shares practical strategies to protect vulnerable individuals when we notice signs of dementia. Understanding the R ..read more

Millions of baby boomers are reaching retirement, facing age-related challenges, and making waves in healthcare, housing and financial markets. Elder law is emerging as part of a holistic estate plan to address medical, financial and incapacity issues as we age. Beyond their legacy, baby boomers and their caregivers are planning for Medicaid, incapacity medical and financial oversight, and legally documenting end-of-life decisions. Based on Yahoo Finance’s article, “Elder Law Is More Important Than Ever. Why? Baby Boomers,” this blog examines elder law, the increasing necessity for attorneys i ..read more

Families that include individuals with special needs require planning to secure their loved ones’ security in the future, both in legal and financial terms. There’s usually no expectation of the child becoming an independent adult, so careful planning is needed, as advised in the recent article “Financial Planning for Families with Disabilities” from Wealth Management. Many families neglect planning for their retirement, focusing all their resources on developing a plan for their disabled child. However, retirement and their child’s future need to be secured, which is where an estate planning ..read more

If you thought it was hard to talk with your children about sex, try talking with them about money and death. Americans generally steer clear of talking about death and money. Nevertheless, these conversations are necessary, according to a recent article, “Let’s talk about money and death: Why aging parents and their adult children should have ‘the talk,’” from MarketWatch. Sharing information about finances and end-of-life wishes can prevent resentment or stress before a crisis and gives everyone involved peace of mind. If an estate plan has been created and financial and tax planning accompl ..read more

Trusts are invaluable tools in estate planning when it comes to securing your financial future and ensuring that your assets are handled according to your wishes. However, the intricacies of trusts and their tax implications can feel like deciphering a complex legal code. Fear not; we’re here to demystify trusts and shed light on what your estate planning attorney wishes you knew. This article outlines trust basics, types of trusts for estate planning and tax implications for 2023 and 2024. Trust Fundamentals: Understanding the Basics Trusts are based on three elements: the legal document for ..read more

Our parents are pillars of support along our journey through life, guiding us through the ups and downs with unwavering love and care. As our parents age gracefully, we can choose estate planning strategies that support them along their journey to retirement and beyond. These strategies address long-term care and living arrangements for our parents’ well-being and peace of mind. We explore why caring for aging parents in estate planning is necessary to preserve their dignity, security and legacy. Comprehensive Estate Planning Strategies to Care for Aging Parents Modern estate planning goes bey ..read more

Estate planning should be a top priority for anyone who has built and grown a successful small business, especially if they intend to build generational wealth and create a legacy. The title of a recent article from Business Insider says it all: “You might not want to think about estate planning, but as a financial planner, I know it’s essential for small-business owners.” There are more complex issues for business owners than employees for estate planning. Therefore, be sure to work with an experienced estate planning attorney who will create a plan to protect you, your family and your busine ..read more

Have you heard of the “Great Wealth Transfer?” It’s the period when Baby Boomers are projected to pass trillions of dollars to the next generation, according to a recent article from Kiplinger, “How Estate Planning Can Thwart the ‘Third-Generation Curse.’” The anticipated $84 trillion expected to be bequeathed to Generation X, Millennials, and Gen Z beneficiaries sounds enormous, but the third-generation curse may leave heirs with far less than expected. Often, wealth is earned by one generation, grown by the second generation who witnessed firsthand how hard their parents worked to maintain t ..read more

As the baby boomer generation ages, the significance of elder law in addressing the unique legal needs of older adults has never been more pronounced. From helping to establish financial security to long-term care planning, elder law attorneys play a vital role in safeguarding the rights and interests of seniors in an increasingly unique legal landscape. Based on ABA Journal’s article, “Why elder law is a growing, ‘anything-can-happen practice,’” we’ll discuss the importance of elder law and how it’s poised to meet the evolving needs of our aging population. Why Elder Law Is a ‘Must Have’ in T ..read more

Every year, Americans receive Facebook reminders to wish departed friends a happy birthday. It’s a sad reminder, but it happens because most people don’t address digital footprints as part of their estate plans. A recent article from the Monterey Herald, “Liza Horvath, Senior Advocate: Your digital life does not die with you,” explains how to get started. Ensure that your executor has a list of websites and apps where you are a user. This includes Facebook, Instagram, X (formerly known as Twitter), Linked In, Snapchat, WhatsApp, Google email, Microsoft Outlook, bank accounts, investment accoun ..read more