October 8, 2011 was a sad day for professional football purists; it will be remembered as the day that legendary Oakland Raiders owner Al Davis passed away. Davis was a controversial figure. Loved by many and not as much by others, he was almost universally respected in the world of sports. He became the owner of the Raiders in 1970, and his teams captured four AFC Championships and three Super Bowls after the merger between the AFL and the NFL. Al Davis was inducted into the NFL Hall of Fame … [Read more...] about Al Davis And Estate Planning
Blog – Latest Articles and Updates
CLASS Act on Hold
Last Friday, the Department of Health and Human Services announced that it does not plan to implement the Community Living Assistance Services and Support (CLASS) Act at the present time. The CLASS Act was intended to act as a federal insurance program for long-term care, particularly in nursing facilities. The enacting legislation requires HHS to determine that the program will be self-sustaining (that is, it will pay for itself) before going into effect. Because HHS was not convinced that … [Read more...] about CLASS Act on Hold
Beware Of DIY Estate Planning Schemes
These days a lot of people have taken to doing things for themselves rather than bringing in experts, and under certain circumstances there is nothing wrong with this. It can be fun and rewarding to undertake DIY projects, and many individuals make a hobby of it and build on the skills that they learn over time. They purchase needed equipment and find ways to put it to good use. One of the reasons why the DIY craze has taken hold in America is because information has been become readily … [Read more...] about Beware Of DIY Estate Planning Schemes
Anna Nicole Smith Vs. Marshall Estate Challenge Finally Resolved
When you finally take the plunge and put an initial estate plan in place you may feel as though you've completely finished your planning and don't have to worry about it any longer. Depending on how your life goes after you create the estate plan, this may not be the case. A lot of different life events can create the need for estate plan updates. It is no secret that a high percentage of marriages end in divorce these days, and if this has happened to you, you likely want to adjust your … [Read more...] about Anna Nicole Smith Vs. Marshall Estate Challenge Finally Resolved
The Importance of Discussing Guardian Selection before Creating Your Will
When creating your will, you’re forced to make important decisions. This includes deciding on a guardian for your minor children in the event something happens to you. If you have minor children, you'll want to take extra care to make sure that they’re always loved and protected. You need to make sure that you guardian selection is not only the best fit possible, but that the individual is able to handle all of the responsibilities associated with the job. Consider the following … [Read more...] about The Importance of Discussing Guardian Selection before Creating Your Will
Estate Planning And Educational, Medical Gifts
If your estate is subject to the federal estate tax the first thing that crosses your mind might be to simply give gifts to your heirs while you're still alive. This makes a lot of sense on the surface, but the powers-that-be know that this would be a logical way to avoid the estate tax. So there is a gift tax in place as well, and it carries the same rate as the estate tax. (That rate is 35% right now.) You may have heard that there is a lifetime gift tax exemption of $5 million, and this is … [Read more...] about Estate Planning And Educational, Medical Gifts
What Is A GST?
One of the things you should be aware of when planning how to transfer your assets to your heirs is possible exposure to the federal estate tax. Whether or not you are going to be subject to the tax depends upon the overall value of your estate compared to the estate tax exclusion at the time of your death. Determining this is more difficult than it sounds because the estate tax exclusion moves around so much. Currently, the estate tax exclusion is $5 million so the portion of your estate that … [Read more...] about What Is A GST?
Long-Term Care Aid For Wartime Veterans
Unfortunately a lot of people take a "this will never happen to me" attitude about some things, and this can come back to haunt them. Individuals who find themselves prepared for all eventualities don't think this way. They keep their heads up and face all possible contingencies head on. They may or may not have to put their contingency plans into action, but they are prepared nonetheless and this provides them with a great deal of peace of mind. This in itself can help to keep you healthy as … [Read more...] about Long-Term Care Aid For Wartime Veterans
Elder Law Alert: Baby Boomers Unprepared
Elder law attorneys are well aware of the fact that the population is aging very rapidly at the present time, and this reality is starting to seep into the public consciousness as a whole. The generation known as the "baby boomers" is now starting to reach the age when people typically retire, and in fact huge numbers of people are applying for federal retirement benefits every day. This high number of applications is expected to continue for some 20 years, so there's a lot of interest by elder … [Read more...] about Elder Law Alert: Baby Boomers Unprepared
Elders Can Turn To HECM For Liquidity
Estate planning at its core is all about preparing assets for distribution to your loved ones after you pass away. But when you are contemplating your legacy, you have to consider what may happen while you are still alive. With this in mind you should be apprised of all of your options. You never know what the future holds, and though you may have a reasonable expectation that you will have sufficient liquidity, it is possible that circumstances outside your control could throw a fly in the … [Read more...] about Elders Can Turn To HECM For Liquidity
