Preplanning for Nursing Home Care
What exactly is nursing home preplanning, and when do you need to start thinking about it? Ideally, nursing home preplanning happens about five years or more before you think you or a loved one will need long-term care. Many seniors are concerned about losing their home and other assets if they one day require nursing […]
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A Close Look at the Duties of a Trustee
The most important part of choosing a Trustee is trust. The highest ethical standards are required for all types of trustees, whether they are dealing with personal assets or business interests. In all cases, the golden rule is that a trustee must put the beneficiary’s interest first. Important guiding principles The first and foremost duty […]
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How to Prepare for a Smooth Home Closing
Whether you are in the process of selling your home or you are thinking about selling, it is important to know that sellers have an important role in the process. It’s far more than just picking the right listing price and marketing the property to the widest audience. There are certain steps in the process […]
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Understanding How a Medicaid Trust Works
As we age, we may become more concerned about how we will pay for our own or our spouse’s long-term care needs. With rising costs of nursing home and in-home care, your hard-earned money could be wiped out completely in as little as a few months. Estate planning techniques can utilize irrevocable trusts like Medicaid […]
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Rethinking Relationships in Portfolio Management
Correlation is a statistical term used to describe how two variables, such as stocks and bonds, fluctuate in relation to one another. If stocks and bonds move in the same direction, up or down, their correlation is positive and measures between 0 and 1.00. Similarly, if the correlation is 1.00, they are tracking each other, […]
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When Death Do Us Part
Unlike a unilateral will, a prenup is a bilateral agreement crafted between two people. Ideally, a prenup will be drafted in alignment with the corresponding will. However, in situations in which the two documents are in direct contradiction with one another, courts tend to prioritize the prenup over the will as long as the former […]
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What Is a Dead Cat Bounce?
This colorful term is used to describe a technical phenomenon that occurs during a significant market downtrend. After weeks or even months of grinding lower, asset prices appear suddenly and inexplicably to change direction and spring back to life. Puzzled traders wonder, is this the big turnaround they have been desperately awaiting? Has the wind […]
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Just What Is a Conservatorship?
While Britney Spears’ conservatorship case and her multimillion-dollar fortune were extraordinary circumstances, her legal condition is not uncommon: Over 1.3 million U.S. adults are living under guardians or conservators, who control about $50 billion of their assets, according to the National Center for State Courts. There is some confusion over distinctions between guardians and conservators. […]
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Should You Add Your Children to Your Deed and Bank Accounts?
Many people believe that an easy way to avoid probate and enable your children to assist you as you age is to add your children to your bank accounts and even the deed to your home. But this strategy doesn’t always work as planned. Suppose your child causes a severe car accident. Your account can […]
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Questions to Ask Before Meeting with an Estate Planning Attorney
Prior to making an appointment with an estate planning attorney, ask yourself a few questions to come prepared to the meeting. If you don’t know the answer, come with prepared questions for your attorney. Doing this will ensure the best use of your time and money. What makes up my estate? Your estate consists of […]
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