While considering estate planning strategies, you may be wondering, “what does a living trust do for you?” It really depends on what your estate planning goals are. Revocable living trusts are a great option for many people but they may not satisfy the needs of every client. Your living trust attorneys can help you determine how you can get the most out of your trust during your lifetime. What are Some of the Benefits of a Living Trust? Since a revocable living trust can be amended or revoked, … [Read more...]
Do You Know the Basics of Charlotte Trust Administration?
Charlotte trust administration is often an important component of estate planning. The importance of the trustee’s role cannot be overlooked. The trustee is the individual who has been selected for the responsibility of managing the trust property and performing the terms of the trust agreement. In order to properly fulfill the duties of a trustee, you need to know a few important aspects of Charlotte trust administration. Charlotte Trust Administration Can Be a Complicated Process A common … [Read more...]
Why North Carolina Residents May Need a Charlotte Elder Law Attorney
Elder law refers to all of the legal issues that have an impact on people as they reach their retirement years and eventually pass on from this life. While many people just assume that retirees have everything in order prior to reaching their senior years, nothing could be further from the truth. Seniors still have many legal matters of great importance to their lives; those concerns are just focused on different things than they dealt with in their younger years. Here are the top three reasons … [Read more...]
How Ethical is Medicaid Planning?
The Florence Medicaid attorney at The Potter Law Firm is experienced in Medicaid planning and can assure you that all of our planning strategies are absolutely legal and ethical. While many people see Medicaid planning and asset protection as an exercise in hiding assets from the government, that is not what Medicaid planning entails. Our Florence Medicaid attorney is here to guide you through an entirely ethical and very useful process. Full Disclosure is Always Practiced Our Florence … [Read more...]
Do You Need to go Through Probate if There is a Will?
A common concern for many clients is probate and whether it is required when a loved one leaves behind a last will and testament. Typically, clients want to find ways to create an estate plan that will help them with avoiding probate. Considering the time and expense of probate, which is a court-supervised process, it is understandable that many clients have that goal. Generally speaking, most estates need to go through probate, regardless of the nature or amount of assets. However, there are … [Read more...]
Medicaid Waivers and Huntersville Medicaid Planning
The Medicaid waiver program can come into play if you need long-term care toward the latter portion of your life. Before we look at the details, we should provide a general overview so that you understand the lay of the land. The fact is that the majority of senior citizens will eventually need long-term care so if you make no advance plans you could be unprepared for the cost when the time comes. With this in mind, it is important to consider Huntersville Medicaid planning so let our … [Read more...]
Ashland Elder Law Attorney Dispels the Myths
When Ashland residents begin to consider elder law issues and estate planning goals, there are a few typical questions that come up. Some of those questions are based on common misconceptions about certain elder law issues or about estate planning in general. In this article, your Ashland elder law attorney will try to clear up some of the most common myths out there. But, if you have any other questions, our Ashland elder law attorney is happy to answer them for you. Your Spouse Cannot … [Read more...]
Reducing Debt Can Be A “Big Piece”
You may take a look at your bills and come to the conclusion that you are going to have to make a certain amount of money during retirement to meet these expenses. While ensuring adequate income is important, reducing debt is something that could be a big piece when you are planning for retirement. For instance, you may want to consider taking consistent steps toward reducing your mortgage debt. Over the course of the loan, you pay a significant amount of interest which could eventually … [Read more...]
Frequently Asked Questions About a Living Will
When you arrive at a hospital emergency room or if you are diagnosed with a terminal illness, you will likely be asked whether you have a living will. Most people never think to create these advance directives until they need it. However, not having a living will can leave your family to make some very difficult decisions during an already stressful time. Our attorneys can help you decide whether you want to create a living will. Here are the answers to some commonly asked questions about a … [Read more...]
What Is a Third Party Special Needs Trust?
There are numerous steps that you can take to give money to your loved ones after you pass away. You should understand all of your options, consider the life situation of each person in the family, and make informed choices. With the above in mind, let's look at the value of third party special needs trusts. People With Disabilities If you want to provide resources for a person with a disability, you have to take government benefit eligibility into consideration. Many people with … [Read more...]
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