If you have been put in charge of the trust administration process to settle an estate involving a living trust, this trust administration checklist can help you. There is a lot of responsibility that is involved in administering a trust and you need to ensure that you have done the necessary steps to facilitate the timely and efficient transfer of assets to the beneficiaries designated in the trust after the trust creator passes away. Having a checklist can help. A trust administration … [Read more...]
What is Considered a Countable Asset for Medicaid?
If you are getting older, it is important that you have a plan for paying for your care should you end up suffering from age related disabilities. Do you have the resources to self pay for home care or skilled nursing care should your family be unable to care for you without help? Should you purchase long term care insurance or is the long term care insurance you already have adequate to meet your needs? What does your long term care insurance cover and might you have needs which are not … [Read more...]
Planning for Frequent Flyer Miles
This is a post from my friend Steve Hartnett, the Director of Education at the American Academy of Estate Planning Attorneys, about the transfer of frequent flyer mile accounts to beneficiaries. It mentions that Anthony Bourdain had a specific gift of his airline miles in his Will and at least raises the question whether this rights are always transferrable in this way. The post points out that these are contractual rights and not all companies will have the same policies. Planning for … [Read more...]
Raleigh Seniors are Losing Their Homes
An elder law attorney provides help to seniors in protecting their rights, and provides assistance to people throughout their lives in preparing for their golden years. A good elder law attorney will be prepared to provide help to people in making sure they have the money they need to survive during their retirement -- including paying for safe housing and other care they need. An attorney can help with this process by offering guidance on asset protection and management of you legal affairs, … [Read more...]
Should You Talk With Your Loved Ones About Estate Planning?
The Durham area estate planning attorneys at Clarity Legal Group can help you to put together a comprehensive estate plan. One of the issues that often comes up during the estate planning process is a question of how involved family members should be as you make your decisions. For example, while husbands and wives often draft wills together, it is not always clear how much involvement people want their children or other relatives to have in weighing in on decisions made during the estate … [Read more...]
What to Do About Leaving Money to an Heir Who is Financially Irresponsible
An experienced estate planning attorney can help you make plans to thoughtfully provide for the people you care about. Sometimes this means more than simply accounting for who will inherit from you. You need to think about how they will receive what you leave them. Estate planning presents the opportunity to think about the particular needs of the people who will inherit from you and to thoughtfully plan to provide them the structure, protection and benefits which can either only or most easily … [Read more...]
The Elder Law Attorneys of Clarity Legal Group are pleased to be presenting at the Triangle Caregivers Conference in Durham today
Millions of Americans function as family caregivers for loved ones. This is one of the most challenging and difficult phases of anyone's life. At Clarity Legal Group, we think there is nothing better we can do with our time and experience than serve as support to those caregivers, guiding them through the difficult array of circumstances they may face as a caregiver, all built around the issue of control: control of healthcare decisions, financial accounts, contracts, professional services, … [Read more...]
How a Chapel Hill Living Trust Attorney Helps You Plan for Incapacity
A Chapel Hill living trust attorney can provide you with help making an incapacity plan. There are many tools that could be a part of this plan, but living trusts can be especially helpful in ensuring that you are prepared if you become incapacitated. At Clarity Legal Group we work closely with you to define how a living trust can fulfill your goals for organizing your affairs. We begin every engagement which a focus on what is important to you, and then provide clear solutions for how to … [Read more...]
6 Important Estate Planning Considerations – Part 2: Long-Term Care
Many considerations must be addressed in an estate plan, not just who gets whatever’s left after your death. Long-Term Care expenses are an ever-increasing concern. Your estate plan should consider how those expenses would get paid. This article looks at several ways to plan for those expenses. 6 Important Estate Planning Considerations – Part 2: Long-Term Care … [Read more...]
Trust Administration is a More Private Way to Transfer Wealth
The trust administration process is a preferred way of transferring wealth after a death occurs. One of the many valuable features of planning with a Living Trust is the privacy made possible through this planning technique. This privacy is available only if you have organized the management of your affairs through a trust before your death. Furthermore, the privacy is only assured if you use the Trust Agreement as a vehicle for avoiding the court process known as probate, which requires both … [Read more...]
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