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Profit Law Firm
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If you are looking to save money on your estate plan, then you might think that you should get a will since they are cheaper to get than a trust. However, trusts are actually cheaper overall. Estate planning can be expensive for some people. Estate planning attorneys do not always... Continue reading
Posted Sep 1, 2017 at Profit Law Firm
You cannot merely tell your family what should be done with your assets after you pass away. You need to go through the process of getting a formal estate plan drawn up. Many people are under the impression they do not need to get a formal estate plan, because they... Continue reading
Posted Aug 31, 2017 at Profit Law Firm
How to fairly divide an estate between multiple children, can be a difficult question to answer. It can get even more difficult, when the family is not a traditional one. When people get remarried and they have children from a previous relationship, then their estate planning can get pretty complicated.... Continue reading
Posted Aug 30, 2017 at Profit Law Firm
If you do not continuously update your estate plan, then it will not be as effective as you want it to be. After people get an estate plan, the last thing many of them want to do again, is to go back to the estate planning attorney and make changes.... Continue reading
Posted Aug 29, 2017 at Profit Law Firm
A pet cemetery and crematory in Illinois is accused of giving pet owners the ashes of animals that are not their own. While a local animal rescue volunteer was searching for a missing dog at an Illinois pet cemetery and crematorium that also had an attached animal shelter, he noticed... Continue reading
Posted Aug 28, 2017 at Profit Law Firm
You can create a will by purchasing a form online and filing it out. However, it makes no sense to do so. One of the biggest questions people have about estate planning today, is whether they should use one of the several online legal document services. These services allow people... Continue reading
Posted Aug 18, 2017 at Profit Law Firm
Estate planning and retirement planning are not separate things. If they are done properly, you will do both at the same time. People often think of retirement planning as saving for their own financial needs, when they are no longer working. They also think of estate planning as something different,... Continue reading
Posted Aug 17, 2017 at Profit Law Firm
It is very easy to find bad estate planning advice on the Internet. Make sure that you are listening to experts. If you start Googling for advice about what to do with your estate, you are likely to find some good sources of information. You are also likely to find... Continue reading
Posted Aug 16, 2017 at Profit Law Firm
Most of the time, estate planning is not just about a deceased person's estate. It is also about elder law options. A long time ago, only wealthy people had estate plans prepared and the early estate planning options evolved to reflect their needs. They needed wills and trusts to pass... Continue reading
Posted Aug 15, 2017 at Profit Law Firm
Who you make the beneficiaries of your retirement accounts, can have major implications for your estate. When you first signed up for a retirement account, you might not have thought about all the details that were presented to you. This is especially true, if you were given retirement account forms... Continue reading
Posted Aug 14, 2017 at Profit Law Firm
No matter who you are and what you do for a living, if you can read this, then you need a general durable power of attorney. Think for a moment about everything you routinely do to make sure that all of your finances are in order. You pay many kinds... Continue reading
Posted Aug 11, 2017 at Profit Law Firm
This key position determines if the estate is handled well. An executor needs to be chosen carefully, according to the Wills, Trusts & Estates Prof Blog in "Selecting an Executor for Your Estate." While there are others who will have a hand in determining how the estate administration goes, the... Continue reading
Posted Aug 10, 2017 at Profit Law Firm
Americans hold a lot of wealth in IRAs. However, do you know the tax consequences? Forbes recently discussed some possibilities for beneficiaries of IRAs, including the good deals and the bad deals in "What To Do If You Inherit an IRA." While inheriting an IRA account can be great news... Continue reading
Posted Aug 7, 2017 at Profit Law Firm
If you are the parent of a recent high school graduate, then you should consider getting your child an estate plan. When our children are young and growing up, we try to teach them how they should act later in life. Every parent knows that the lessons they give to... Continue reading
Posted Aug 4, 2017 at Profit Law Firm
No matter who you are, how much money you have, or any other factor, estate planning is something you should do. Everyone who has ever worked in an estate planning attorney's office, has experienced the following scenario at least once. It is likely they have experienced it dozens and even... Continue reading
Posted Aug 3, 2017 at Profit Law Firm
When a person passes away owing debts, it is important that creditors follow the proper procedures to make their claims against the estate. Most types of debt do not die with the debtor. If there are any assets in the estate, then the estate is responsible to pay those debts.... Continue reading
Posted Aug 2, 2017 at Profit Law Firm
The high costs of funeral services creates a problem, because many people pass away without having the means for their own burials. Their remains still have to go somewhere. Every year, thousands of people with very little money pass away. Sometimes, it is not even known who these deceased people... Continue reading
Posted Aug 1, 2017 at Profit Law Firm
You now have the option to have your pet cremated and keep the ashes in an urn at home. A recent trend is for people to treat their pets just like any other member of their family. It is no longer just a dog or a cat. Your pet is... Continue reading
Posted Jul 31, 2017 at Profit Law Firm
Motorcycle riders in Lubbock, Texas now have the opportunity to incorporate going on a final ride into their funeral services. The basic design of hearses has not changed very much over the years. They are somber looking vehicles, usually black, that most closely resemble a limousine. At least, that is... Continue reading
Posted Jul 27, 2017 at Profit Law Firm
The Florida legislature recently passed a bill that would allow for electronic wills in the state. It has been vetoed by the governor. Creating legal documents online is increasingly common. Many people today, for example, work under contracts that are created online and digitally signed. Taxes can now be done... Continue reading
Posted Jul 26, 2017 at Profit Law Firm
If you want your wealth to last and be available for future generations of your family, then you need to make sure that your heirs are ready to handle the responsibility of maintaining your wealth. The ability to manage and preserve a large amount of wealth is not something most... Continue reading
Posted Jul 25, 2017 at Profit Law Firm
Estate and capital gains taxes can be avoided. Wall Street has an enhanced life insurance method that benefits wealthy people and is becoming increasingly popular, according to Barron's in "New-ish Tax Planning Instrument Gathering Billions." Life insurance is a popular estate planning tool used as a relatively simple way to... Continue reading
Posted Jul 24, 2017 at Profit Law Firm
One of the biggest questions in estate planning today, is whether a trust is the best option for your family. If you were to conduct a representative poll of middle class Americans about the best way to plan for your estate, it is almost certain that the majority of respondents... Continue reading
Posted Jul 21, 2017 at Profit Law Firm
Even though a vote over the Senate's bill to repeal Obamacare (Affordable Care Act) has been delayed, it is important to know whether or not it affects elders who rely on Medicaid for nursing home care. At least for the moment, the legislation to cap Medicaid will not proceed. Nor... Continue reading
Posted Jul 20, 2017 at Profit Law Firm
Repeal of the Affordable Care Act has been one the biggest news items in recent weeks. Changes to Medicaid in Republican proposals have received a lot of attention, but many people do not know exactly what Medicaid does. You probably know that Medicaid is the federal government program that provides... Continue reading
Posted Jul 19, 2017 at Profit Law Firm