Justin, I’ve read several articles and even heard a couple of presentations on the importance of estate planning, but I really don’t have that much. I own my home and a car and by the end of each month have around $15,000 in the bank. I really don’t want to go to the trouble and expense of doing an estate plan. What happens if I do nothing?
What if I do nothing? Read More »
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
Resolve to Update Your Estate Plan in the New Year Read More »
Justin, My mother moved into a nursing home a few months ago and began privately paying the facility after their business office told her that she had no chance of qualifying for Medicaid until she spent her entire savings on care. After reading some of your articles I feel like we have been misinformed.
Do you have to spend yourself broke to qualify for Medicaid? Read More »
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.
A Gift or a Curse? Read More »
For better or worse, when someone passes away, their property is not distributed based on what’s equitable—or what’s fair—under the circumstances.
A Decedent’s Property Is Not Distributed Based On What’s Fair Read More »
The most common asset to force families into probate—the court procedure for distributing your assets when you die—is real estate. When a person owns real estate solely in their name when they die, their beneficiaries must go through a probate proceeding to transfer that property into their name when you pass away.
Out-of-state real estate? You need a plan. Read More »
Everyone needs an estate plan, but people in second marriages especially need one. It is very common for us to meet with clients who are remarried and have children from a prior marriage. When this is the case, and they don’t have a proper estate plan set up, things can turn out drastically different when they die than what they imagined.
Second Marriage? You need a plan. Read More »
By planning ahead you can have the peace of mind of knowing that even if something happens to you, your children will be properly taken care of and will have the benefit of the protections you set up for them.
Planning to Protect Young Children Read More »
We help a lot of clients set up trusts with a goal of avoiding probate. We also help many family members administer trusts after their loved ones pass away. Once you take over the role of trustee there are steps that need to be taken to administer the trust.
You’ve become trustee—now what? Read More »
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.
Does your trust accomplish what you think it does? Read More »
© The Elrod Firm. The information on this website is merely general information. It is not legal advice, and it does not create any type of attorney-client relationship. Estate Planning and Elder Law are complex fields, and each case is unique. Do not rely on the general information on this website when making legal decisions. Seek professional advice. The information on this website is the property of The Elrod Firm, and cannot be reused or disseminated without the express written consent of The Elrod Firm.
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