Probate is an important legal mechanism that dictates the distribution of assets after a person’s death, specifically within a probate court and with a probate judge presiding over proceedings. Surviving families and other interested parties usually trigger a probate process to cover issues relating to the deceased individual’s estate settlement.…
The rise of bitcoin as well as other virtual currencies associated with blockchain technology (known as cryptocurrencies) has created a number of new millionaires and raises new questions in the legal community when it comes to addressing cryptocurrencies in estate plans. The Internal Revenue Service classifies cryptocurrencies as property for…
An increasing number of our day-to-day activities are moving online. Whether financial, social, work, or leisure, all aspects of our lives have a growing presence on our computers or the internet. Because of this, smart estate planning should include addressing digital assets. Historically, estate planning consisted primarily of physical and…
Although nearly all would agree that safe nurse staffing ratios are important and necessary, long term care (LTC) facilities (also known as nursing homes) and skilled nursing facilities (SNF) seem forgotten in the rally for safe nurse-patient ratios on units. Federal law has few requirements for nurse staffing in long…
If you are a would-be snowbird, it pays to do some financial planning before you take flight. According to a study by Merrill Lynch, by age 61, many people say they are free to chose where they most want to live. More than a third of the retirees surveyed said…
Using DIY wills for estate planning can have unintended negative consequences according to Marguerite Lorenz, a writer for marketwatch.com. She reports having recently seen a DIY service that had many typos on its website and that its estate planning “packages” had a document labeled with three different names. This service…
Most investors have one overriding goal: building a sum of money saved that can be used in the future (also known as a nest egg). But some investors who are talented and lucky focus on something else: passing their assets to their heirs. It’s not as simple as leaving a…
When same-sex marriage was legalized in 2015, many legal issues that same-sex couples faced were ratified. But other areas, like estate planning, could still be problematic. Elena Lidrbauch, certified elder law lawyer attorney at Hickman & Lowder Co. in Cleveland, Ohio, and Joy Savren, at Savren Legal in Cleveland, said…
What Makes a Will Valid? Much of what we think we know about wills might be from dramatic media portrayal in movies, television, or books. However, these might not always show what is needed to make a valid will, especially when what makes a will valid can vary between states.…
In ten years, most middle-income American seniors will not be able to afford the rising cost of independent or assisted living. A recent analysis in Health Affairs titled “The Forgotten Middle,” took a look at how middle-income seniors will be caught in the middle financially when it comes to long-term…