On behalf of The Elder and Disability Law Firm, APC on Wednesday, February 12, 2014. It is important to be cognizant of the fact that you are not necessarily going to be optimally served by utilizing a last will to arrange for the transfer of assets to your loved ones. When you use a will there are costs involved because the estate must be probated before it is closed, and there are significant expenses incurred during the probate process in many cases.In addition to this, it is ve...
On behalf of The Elder and Disability Law Firm, APC on Tuesday, February 4, 2014. Because of the fact that passing away can seem very distant you may not take estate planning all that seriously. For this reason a majority of people who have not yet achieved senior citizen status are going through life without having made any plans at all.People such as these may recognize the fact that ideally they should have a plan in place but they are simply in no hurry.This is a rather flippan...
On behalf of The Elder and Disability Law Firm, APC on Monday, January 27, 2014. There are a lot of misconceptions out there when it comes to estate planning terms because people make assumptions without seeking expert advice. With this in mind we would like to provide some clarity with regard to the difference between an estate tax and an inheritance tax.Many individuals assume that these are interchangeable terms but in fact they are two different taxes, and in some cases both of...
On behalf of The Elder and Disability Law Firm, APC on Tuesday, January 21, 2014. With the passing of the entertainment personality Dick Clark the world lost an iconic figure who was a part of the pop culture landscape for decades. According to reports he was extremely successful from a financial point of view during his career, amassing a personal fortune that is estimated to be in the hundreds of millions of dollars.As a result, his family will presumably be receiving a large inh...
On behalf of The Elder and Disability Law Firm, APC on Thursday, January 2, 2014. A lot of people procrastinate when it comes to estate planning. They tell themselves that they will have plenty of time to take care of it when they are old and gray, but the truth is that you are taking risks when you look at things this way.For one thing, you really don't know when you will pass away. Yes, there are average life expectancies and they are useful to consider. But in the end fate holds...
On behalf of The Elder and Disability Law Firm, APC on Monday, December 30, 2013. It is important to gather all the relevant information when you are making plans for the future. With this in mind your anticipated lifespan is something to be aware of, and at the present time the average lifespan among all people in the United States is 78.1 years.However, depending on how old you are and whether or not you are a man or a woman your expected lifespan can vary considerably. As you ge...
On behalf of The Elder and Disability Law Firm, APC on Friday, December 27, 2013. Estate planning is clearly going to involve arranging for the distribution of financial assets to your heirs after you pass away. However, you would also do well to make preparations for the latter stages of your life when certain eventualities may present themselves. With this in mind it is important to understand just how common Alzheimer's-induced dementia has become in America today.Alzheimer's di...
On behalf of The Elder and Disability Law Firm, APC on Friday, December 20, 2013. When it comes to human interaction on virtually any level honest communication is invaluable. Being a good listener who seeks to empathize with others is part of the ideal, and at the same time you have to be politely assertive about making your own perspectives known.In many cases the need for communication is readily apparent and simple to facilitate. On the other hand there are situations that can ...
On behalf of The Elder and Disability Law Firm, APC on Tuesday, December 17, 2013. The singer and composer Ray Charles passed away back in 2004 at the age of 73. According to a CNN news piece, before he died he made an arrangement with his 12 children, leaving each of them a $500,000 trust fund. What he asked them to do for him in return was to agree never to attempt to obtain anything beyond this from his estate after he passed away.Now it has turned out that seven of the 12 child...
On behalf of The Elder and Disability Law Firm, APC on Thursday, December 12, 2013. A lot of people are kind of shocked when they hear about the details surrounding the gift and the estate taxes. After all, we all pay income tax every year so we are well aware of this annual ritual, and we see sales tax tacked onto all of our purchases so this comes as no surprise.But these taxes on asset transfers are not something that you are faced with every day or every year so you may not kno...
