One way or another, the value of your business is going to directly affect the amount of tax you – or your heirs – will owe. Having a handle on your business value will prove invaluable.
Hoosier Estate Planner
If your beneficiary is no longer, what happens to your inheritance? You may be wondering whether if you leave property to your brother Jim, but he dies before you, would his kids inherit the property in his place? The answer is, only if your will explicitly states as much.
Grandparents who took out student loans to help children or grandchildren – or adults who borrowed to pay for education after being displaced during the recession are now faced with the possibility of dying with the loans still unpaid. Some loans will be discharged on death; for others, life insurance can fund the repayments.
An elder law attorney works with seniors, taking a holistic approach to the legal issues people commonly face as they age. These include matters of housing, physical and financial health, estate planning, and more. There are as many issues as there are seniors, as life circumstances are different for everyone. An attorney who specializes in the host of the problems senior citizens face can be a wise investment.
While every situation providing care for an aging parent is unique, one truism is that preparation is crucial to success. Whether you need basic information about eldercare resources and services, are looking for a local agency to provide those services, or have worries about legal documents or how to finance your parents’ care needs now or in the future, the time to begin planning is today.
There are different ways to safeguard your documents and still make sure your heirs and executor know how to find them….
When people, family members, become quite elderly or ill, they also become susceptible to manipulation from those who will defraud or steal. Often, family members do not find out about a change in estate plan until after their loved one has died. Most often, a manipulator will seek to keep last-minute changes of inheritance quiet.
It’s not easy being an estate executor. Learn what the duties are for this job – and how to make it easier for the executor of YOUr estate to do that job…
Husbands Usually Don’t Consider Their Wives’ Future When Deciding When to Take Social Security Benefits
The amount of Social Security benefits a surviving spouse receives depends, in part, on when their deceased spouse began claiming benefits. However, husbands usually don’t take survivor’s benefits into account when claiming benefits, according to a recent study, meaning that many widows will needlessly experience a significant drop in income.
If there is a possibility that a loved one might need Medicaid assistance in the foreseeable future, that person should not be giving gifts. This can be sad if that person gets joy out of generosity. But gifts in that situation can turn out to be very, very expensive.