General Blog
Automobile deductions: Whether an individual uses a personal vehicle for his or her own business or company owns a vehicle, the depreciation of value and costs associated with that vehicle may be deducted from the company’s income at year's end. A taxpayer must keep track of all of these expenses and document them by maintaining receipts and records of expenditures in…Read More
Why do do-it-yourself estate planning tools often backfire? For an individual in need of a will, ads for self-service online tools such as LegalZoom are tempting. Instead of paying a trusts and estates attorney, why not just fill in the blanks yourself? Sadly, in many cases, the mistakes made in completing the forms without the advice of a lawyer can…Read More
In the words of Indiana’s Director of Adult Protective Services, elder financial abuse is “a drain on our resources if we don’t get a handle on it” – and, from the looks of it, Indiana authorities are far from having a handle on this widespread and devastating problem. According to the details of one recent case, a 79-year old woman had…Read More
Planning for long-term care is a vital component to proper estate planning, particularly if an individual or couple is anticipating financial hardship as a result of an extended stay in a nursing home. One of the most important distinctions between the Medicare and Medicaid programs is that while the latter provides coverage for long-term care, the former does not. Also…Read More
I Am Planning A Spring Wedding, Should I Consider An Estate Plan? If you were recently engaged over the holidays, it may well be time to consider updates and changes to your estate plan. As a matter of fact, if you are like the majority of adult Americans and are without an estate plan altogether – it is definitely time…Read More
Why Is It Important To Consider Computer Information When Engaging In Estate Planning? In this age of technological acceleration, when most people are constantly increasing the daily use of their computers to include banking, personal and business record-keeping, shopping and, medical and tax information, it is essential to include conversations about computer data in estate planning consultations. Access to computer…Read More
There are several reasons that a will may prove invalid. It is important for testators to be aware of these pitfalls in order to avoid them. Improper Execution The requirements vary from state to state, but most states require a valid will to be witnessed by two people not named in the will. Some jurisdictions require the document to be…Read More
Will - a written document specifying a person’s wishes concerning his or her property distribution upon his or her death. In order to be enforced by a court of law, a will must be signed in accordance with the applicable wills act. Testator/Testatrix - the person who signs the will. Heirs - beneficiaries of an estate. Executor/Executrix - the individual given authority by the…Read More
Should I Appoint All Four Of My Children To Serve As Co-Executors? When a person dies, it becomes necessary to begin the estate administration process. For those dying with a Last Will and Testament, the terms of this document dictate not only the distribution of the estate, but the person(s) responsible for ensuring that all debts are paid, properties are…Read More
As a child of a senior citizen, you are faced with many choices in helping to care for your parent. You want the very best care for your mother or father, but you also have to take into consideration your personal needs, family obligations and finances. When choosing a caregiver for a loved one, there are a number of things…Read More
Why Is It Important To Choose A Fully Reputable Estate Planning Lawyer? Sarah Laux is an estate planning attorney from Wisconsin who has been accused in a 33-count criminal indictment of stealing $3 million from two of her wealthy older clients. Her indictment includes five counts, including fraud, money laundering and filing a false tax return, which could have resulted…Read More