Being appointed guardian of a loved one is a serious responsibility. As guardian, you are in charge of your loved one's well-being and you have a duty to act in his or her best interest.   If an adult becomes mentally incapacitated and is incapable of making responsible decisions, the court will appoint a substitute decision maker, often called a "guardian," but in some states called a "conservator" or Read More

When you hear about a Will or a Last Will and Testament, you probably think of the document that says who you want to receive your assets (your "beneifiaries") and who you want to make sure your wishes are carried out (your "executor").  To be sure, most everyone needs a Will. (If you're not sure why, please be sure to check out the other blog content contained here). However, financial and physical assets Read More

Although the vast majority of Americans have estates that fall under the estate and gift tax exemption, the exemption is set to be cut in half in 2026. Proper planning may be necessary to make sure you are taking full advantage of the current exemption and aren’t negatively affected when it decreases.  The federal estate tax threshold has increased to $12.06 million in 2022. (We'll call it $12 Read More

Parents usually want to leave their children equal shares of their estate, but equal isn’t always fair. If you plan to provide more (or less) for one child in your estate plan, preparation and clarity are important.  It is natural for parents to want to treat their children equally in their estate plan, but there are some circumstances in which a parent might want to leave children unequal shares. For Read More

No one wants to see a loved one become unable to make decisions for him or herself. If this happens, however, the court may appoint a substitute decision maker, often called a "guardian," but in some states called a "conservator" or other term. A guardian is only appointed as a last resort if other, less restrictive, alternatives, such as a power of attorney, are not in place or are not working. In most states, Read More

Whether your spouse has just passed away or you have lost your mom or dad, the emotional trauma of losing a loved one often comes with a bewildering array of financial and legal issues demanding attention. It can be difficult enough for family members to handle the emotional trauma of a death, let alone taking the steps necessary to get these matters in order. If you are the executor or representative Read More

Planning-conscious individuals often have questions on 529 plans, and if this is you, read on. Money in 529 plans, named for Section 529 of the Internal Revenue Code, enables you to reduce your taxable estate while earmarking funds for the higher education of a grandchild (or any other family member). Funds contributed to such accounts are invested to pay for a grandchild's college tuition, room and Read More

While the internet makes our lives more convenient, it also adds new complications.  For example, what happens to all our online data and assets if we become disabled or die? We all transact a lot of our daily business online -- buying items on Amazon, paying our bills through online bank programs, accumulating and using airline miles, reallocating our investments, saving photos, listening to music, watching Read More

If you apply for long-term care assistance through Medicaid and your application is denied, the situation may seem hopeless. The good news is that you can appeal the decision.  Medicaid is a program for low-income individuals, so it has strict income and asset eligibility requirements. Qualifying for Medicaid requires navigating the complicated application process, which has many potential stumbling Read More

Running a small business can keep you busy, but it should not keep you from creating an estate plan. Not having a plan in place can cause problems and uncertainty for your business and your family after you are gone.   While an estate plan is important for everyone, it is especially important for small business owners. Planning allows you to dictate what will happen with your business after you die or are no Read More