The Elrod Firm

The Elrod Firm Articles

Musings to give you insight and clarity on all things estate planning and elder law.

Estate Planning

Plan for Worst Case Scenario

As estate planning attorneys, our job is not to simply plan for best case scenario, but to include provisions in your plan for what will happen in the worst case scenario.

Probate

Don’t Count on the Media for Estate Planning Advice

Don’t let stories you hear in the media confuse you. Having a will is better than nothing, but it does not make things simple, and it does not keep you out of probate court. Even having a trust won’t keep you out of probate court if you don’t use it right. You must fully fund your trust to protect your family and your estate.

Asset Protection

No Such Thing as a “Simple Will”

Clients frequently ask if we can just set up a simple will for them. They don’t have a whole lot and they don’t want anything fancy or complicated. Although we certainly could draw up a “simple will” for someone, the result of doing that type of planning is not the outcome most people want.

Medicaid Benefits

Your Home: An Investment Worth Protecting

If you are motivated to protect your house, you need a plan. The first question you might ask yourself is – from what does my house need protecting?. But there are three common legal risks that you can minimize or avoid by planning ahead.

Estate Planning

The Elephant in the Room: Bringing Up the Topic of Estate Planning

No one wants to think about their own death or the death of a loved one, much less make plans for it. However, an uncomfortable conversation now is well worth it when you consider the time, cost, and confusion incurred by those without an estate plan in place. Bringing up this conversation, though, can be difficult.

Asset Protection

Resolve to Update Your Estate Plan in the New Year

The beginning of the year is a great time to set goals for making improvements. Although eating healthy and working out are good resolutions to make, everyone should also resolve to make sure their estate plans are up-to-date

Estate Planning

You Need A Team

No one has success in basketball by going it alone. But surrounding yourself with a great team is essential to success in more than just basketball. I’m sure each and every one of them would tell you that they couldn’t have accomplished what they have in life on their own. In basketball and life, success is a team effort.

Estate Planning

An Important Gift for your Children: Setting up your Estate Plan

One of the best gifts you can give your children is to set up your own estate plan. Most people who come to see us, “want to get their affairs in order.” They want to make sure their property is distributed according to their wishes when they pass away. We can definitely help set up a plan to meet that goal. With proper planning, however, you can also avoid probate court and protect your assets from the cost of long-term care.

Asset Protection

A Gift or a Curse?

Many people don’t realize that they can pass on all types of assets, even retirement accounts, to the next generation in safe and protected ways that don’t risk turning the gift into a curse when the recipient proves he or she was not equipped to handle it.

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