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One day William’s daughter read in an article that a will was not the best way to leave property to heirs. Wills often involve long and expensive court proceedings and there are other, more-efficient ways to pass on savings to family. But William was a person who knew his own mind, and he felt sure...
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Long term care insurance was sold aggressively in the 1980s, 90s and thereafter to offset the costs of seniors needing to live in a nursing home, assisted living or needing at home health care. Now, however, the business of long term care insurance has dramatically changed. What was once over 100 insurers providing LTC policy...
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Roughly half of all Americans don’t have a will, so if you’ve already taken this vital step to protect your assets and successors then congratulations are in order – you’re already ahead of the curve. While a will is a necessary document that every person who owns assets should have, it is still a relatively...
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Veterans Aid and Attendance is a benefit paid by the VA to veterans, veteran spouses or surviving spouses in addition to a veteran’s basic pension. The Aid and Attendance Benefit is focused on paying for long-term care. For those who qualify, this benefit usually allows for receiving tax-free cash every month paid directly to the...
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Too often, a veteran may be entitled to a number of benefits, but there is nobody to let them know they accrued it. Carlos Perez, assistant secretary at the American Armed Forces Mutual Aid Association (AAFMAA), the longest-standing U.S. not-for-profit association for veterans agreed in a published interview. “We tell veterans that the military, like...
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When a person dies or becomes incapacitated, successor trustees are required to take over and follow the directions created in the trust. The process of trust administration can be complicated and confusing. So frequently the trustee will seek out a qualified trust administration attorney to help manage the process. An experienced legal team will help...
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When people think of estate planning, they tend to focus on the distribution of an individual’s assets and other property when they pass away. But actually, tax planning is an essential part of every estate plan. Estate taxes can apply when the decedent has a will in place, but there are ways to minimize these...
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The challenge of caring for a disabled or special needs family member can be rewarding, but also exhausting financially and emotionally. By establishing a special needs trust, you can provide additional financial support for your elderly parents, disabled children or other loved ones without affecting their government support. A special needs trust can help you...
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A revocable trust is a great opportunity while you are alive to designate exactly how you would like your estate, including property and assets, to be handled in case you become incapacitated or if you should pass away. Revocable trusts are not just for the rich and famous. They are an important component for all...
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Probate is the legal process where authority over your property is passed to someone else under court supervision and control. After the court determines that your will is valid, the personal representative is responsible for taking control of your assets, notifying and paying any creditors, filing income and estate tax returns, and distributing your property...
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