The Elrod Firm Blog

Put a Spring in Your Step, Not in Your Power of Attorney

A Power of Attorney is a legal document that allows you to appoint someone to take care of your finances and healthcare decisions if there ever comes a time when you can’t. The person you appoint is called your attorney-in-fact or agent. Some Powers of Attorney only become effective when you become incapacitated. They “spring” into existence once a certain event has taken place.

To Deed or Not To Deed?

On Father’s Day in 2013, Frank surprised his three children by turning tradition on its head. Instead of waiting for his kids to give him a Father’s Day present just like they’d done time and again over the years, he gave them a gift they weren’t expecting.

Things Grandparents Should Know about the 529 College Savings Account

The 529 College Savings Account (“529 Plan”) is an estate planning and college savings tool that has its place in a grandparent’s well-rounded estate plan, but the pros and cons should be considered before heading down to your local bank or opening an account online. In addition, as an Elder Law practice, we also want you to be informed about the affect a 529 Plan may have on your long term care Medicaid eligibility.

How We Got Here

When you strive to accomplish your life’s work, “all the universe conspires in helping you to achieve it.” This was the lesson an Andalusian shepherd boy named Santiago learned in Paulo Coelho’s book, The Alchemist. The inspiring story teaches that many do not discover what they are meant to do in life, but if we […]

Life Lessons From Our First President

On the third Monday of February each year, Americans celebrate a federal holiday commonly referred to as Presidents’ Day, but on the books, this holiday remains “Washington’s Birthday.” Our first president was actually born on February 22, 1732. He died on December 14, 1799, only four months after he completed his Last Will and Testament, […]

Non-legal Tips for Estate Planning

When we’re finalizing an estate plan, clients often ask, “Ok, is there anything else I need to do now?” Here’s a summary of a few key tips that you can do without a lawyer

What You Need To Know About Veterans Benefits

I have always found it appropriate that we celebrate Veterans Day in November—a time of year set aside for giving thanks for the many blessings we have received, not the least of which being the freedom we in America enjoy because of the sacrifice of our nation’s veterans. As this patriotic holiday is currently celebrated, it is a day set aside to recognize the veterans of all U.S. wars, but that has not always been the case.

Plan to Avoid Family Conflict

Sometimes people think they don’t need an estate plan because they’ve named one of their children to be the sole owner of all of their assets when they die. They say, “I’m not worried, I know my daughter will do the right thing.” This is not a good idea.

Three Estate Planning Horror Stories

There is nothing worse than thinking you have everything in order but learning, often when it’s too late to do anything about it, that you really don’t. It almost feels like I imagine a character in a horror movie might feel when he thinks he’s escaped danger. He closes his eyes and takes a deep breath, only to find that the monster he was trying to avoid is standing right behind him. There are a lot of monsters to avoid in the maze of estate planning.

Belichick’s Legendary Game Plan

The framework for Bill Belichick’s Super Bowl XXV plan can work just as well off the field as it did for the Giants’ defense in Super Bowl XXV. In life, just like in football, we must set our priorities in a way that gives us the best chance of success, and then we must deploy the resources we have at our disposal accordingly.