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Posts tagged "Estate Planning"

The hardest part of estate planning is not what you may expect

Although it's fairly commonplace to see stories in the news or on television about how things can go wrong at the end of life without an estate plan being in place, there are still an estimated 55 to 65 percent of Americans who don't have even in a will in place. Many don't because they think they don't have enough assets to leave behind for anyone. Others think estate planning is too complex.

A special needs trust should be carefully administered

If someone in your home receives government benefits such as Supplemental Security Income (SSI) because they're either physically or mentally impaired, then it's likely that you've heard a special needs trust. While government programs like Medicaid are intended to cover an individual's basic needs, they don't cover "creature comforts" that we'll all come to enjoy having access to.

What estate planning documents are essential to have drafted?

Our lives are not infinite. They can end unexpectedly in a mere instant. Unless we have certain end-of-life documents properly executed and easily accessible by our family members, our loss may not only result in creating an emotional void in our loved one's lives, but a financial one as well.

Factors to consider when setting up a special needs trust

If you take care of someone with special needs, then it's important for you to start thinking about how you'd like him or her to be taken care of in the future if something were to happen to you. It's particularly important that if he or she either plans to or is already receiving government benefits, that a special needs trust (SNT) be set up to ensure that can happen.

Why a special needs trust is crucial for your disabled loved one

If you have a disabled family member, then you likely are aware that government subsidies awarded by both the state and federal government aren't intended to allow him or her to live overly comfortably. Instead, they're only intended to ensure that his or her basic needs are covered just over the poverty line.