Insightful articles that provide further information related to estate planning and elder law.
We have some big news! The firm you’ve known for years as The Elder Law Practice of Justin S. Elrod is changing its name. We’re now The Elrod Firm. But don’t worry; this is still the same firm and we’re still the same people you’ve worked with through the year
Businesses and families all across the country will celebrate a holiday they will refer to as Presidents Day on the third Monday in February, and the holiday is often seen as an occasion to remember all Presidents of the United States, not just Washington and Lincoln.
The type of trust that is best for you depends on your specific goals, the types of assets you have, and your stage in life. It’s important to understand that there are different types of trusts that accomplish different things, and you need to make sure your trust accomplishes the goals that are most important to you.
The holidays are a time to spend with family, to exchange gifts, and to celebrate. It’s also a time of giving and caring for others. In particular, it’s important to remember to care for our elderly loved ones.
One of the greatest gifts you can give to your family is to have an appropriate estate plan in place when needs arise. Many readers will likely take that statement with a grain of salt, considering the person who wrote it is an estate planning attorney. It is true – I may be biased. But allow me to tell you the story of three brothers to illustrate my point.
Families with disabled children have special estate planning considerations to ensure those children are taken care of without risking a loss or reduction in benefits.
Avoiding probate is a goal for most of our clients, but a lot of people don’t know—prior to talking to an elder law attorney—why they’d want to avoid probate.
Mary hadn’t slept well in days. Her husband, James, was in the hospital, and the doctors recently told Mary that he would need the 24 hour care of a nursing home after discharge. Mary’s primary concern was obviously for James’ health, but financial concerns also weighed heavily on her mind.
Probate is a court process that is necessary when assets are titled solely in the name of a person when he or she dies. Probate issues often arise with real estate, but it can also be an issue with assets such as bank accounts, investment accounts, life insurance, stocks, and vehicles.
There are similarities between a power of attorney and a guardianship, but there are also drastic differences. In some cases there are ways to avoid guardianship, but in all cases there are ways to ensure that you have designated who you want to act for you if a guardianship becomes unavoidable.
Take some free reading material with you! One of these stories could hold the answers you’ve been looking for. You’ve got nothing to lose by grabbing a free copy.