Q: In connection with creating our estate planning documents, my husband and I would like to leave our children and grandchildren something more than just our money and assets. We would like to leave them a sense of our values. A friend mentioned something to us about an “Ethical Will”. Can you tell us anything… Read More »
Blog Posts Page 29
Filial Responsibility Laws May Force Children to Pay for Elderly Parents’ Nursing Costs
Many of our clients and readers are caregivers of elderly parents; they have chosen to take responsibility for their parents—whether it be physical responsibility, financial, or other. But what if instead of making that choice, you had responsibility for your aging parents thrust upon you? This is exactly the issue addressed in this recent article… Read More »
Arranging Care for Divorced or Remarried Parents
Divorce is difficult on a family no matter what the circumstances. Even when a divorce is best for all involved, there is always an amount of stress and emotional trauma involved. In fact, it has recently become apparent that the effects of divorce—stress, family upheaval, and tighter finances—can last years into the future. Adult children… Read More »
Do You Know This Person?
If you are a Caucasian woman, aged 50 or older, possibly married, very likely working full or part-time—then there is a good chance that you are also (or will soon be) serving as a caregiver for an aging parent or relative. At least this is what a recent report released by the National Alliance for… Read More »
Advice to Caregivers: Take Time For Yourself !
Many of our clients provide care for elderly loved ones; some even providing constant, around the clock care. Care giving is a demanding, overwhelming, and often grossly underappreciated job. In addition to giving up their own time and interests, caregivers have to watch someone they love slowly regress and lose the ability to do even… Read More »
Pre-Plan Your Funeral, But Be Cautious About Pre-Payment
A funeral comes at a time when the death of a loved one is recent and close, and many people are still in shock and in some cases struggling with the reality of loss. Funerals help grieving loved ones come to terms with death and say their final goodbyes… but for the person planning the… Read More »
What To Do After the Death Of A Loved One
Anyone who has lost a close friend or family member knows that what a difficult, painful, and overwhelming time it can be. We are often asked to help our clients through estate administration process when a loved one dies, but probate isn’t the only thing you’ll have to think about; in fact, it may not… Read More »
Dementia or Alzheimer’s: Is It Too Late For Your Parents To Sign Legal Documents?
The question of competence has become a very big issue in the estate planning/elder law world over the past few years. As the population ages, and awareness of Alzheimer’s and dementia diagnoses grow, more and more adult children are questioning the ability of their elderly parents to make legal and financial decisions. Some children are… Read More »
Giving Your Home To Your Children Can Have Tax Consequences
Clients sometimes ask about the wisdom of giving their home to their children, usually in order to avoid probate and “simplify” things after the parent’s demise. However, this is not usually the best plan and doing so can often result in unintended tax consequences for the recipient child. This is especially so if the parent’s… Read More »
Need Help For Nursing Home Costs?
If a family member needs care in a nursing home, you may be surprised by the cost. In our community, the cost of placement even for routine custodial care averages approximately $7,500 per month for a semi-private room and approximately $8,500 per month for a private room. Most families cannot afford this expense without impoverishing the at-home… Read More »