The possibility of your heirs contesting your will may concern you. The monetary costs and emotional distress of a will contest is something you do not want for your surviving family members. You might think placing a no-contest clause in your will is the answer....
3 benefits of a special needs trust
Having a child who has a disability can be challenging for any parent. Not only must you find care and accommodations for your son or daughter, but you must also ensure he or she has the necessary funds to thrive after your death. Still, giving money to your child may...
The pros and cons of aging in place
Long-term care planning may involve aging in place with home health services. Living at home may sound appealing, but being housebound has some disadvantages, as well. The New York State Department of Health provides information about various home care services that...
What does a health care agent do?
Whether you are an older adult preparing for end of life issues or the possibility of becoming incapacitated or you want to help a family member prepare for challenges that could arise later on, it is crucial to go over your options. In New York, the state's Health...
What does a living trust do?
Most Americans are familiar with what a will does, but living trusts are far more opaque. The reality is that the most comprehensive estate plans often involve both a will and a trust, if not several different trusts. Living trusts can provide a lot of flexibility in...
What is testamentary capacity?
Challenging a will is usually extremely difficult. This is because the courts generally see a person's last will and testament as the direct voice of the deceased. Since that person is no longer around to speak for their own wishes, the courts rely on the will....
Reducing inheritance disputes through proper communication
Inheritance disputes can cause undue stress for surviving family members and could potentially compromise the availability of benefits. People who wish to avoid costly contention after their death should prioritize communication while they are still alive....
What problems could arise for an executor?
Acting as the executor of someone's estate is a big job. It is not easy, and it requires you to be reliable and professional. There are some issues that could arise during your time as executor that you will need to deal with. The American Bar Association explains...
What is a Medicaid trust?
Managing the costs of long-term care and healthcare as you age can be a challenge. The cost is often more than you can afford with your savings and other income. For that reason, it is smart to plan ahead so that you can qualify for Medicaid, which provides many free...
What if my mother hates the nursing home?
There are multiple reasons why moving your loved one into a nursing home is the right choice. However, it is natural for you to have concerns if your loved one says that he or she is unhappy.. However, even if the nursing home is top quality, there is often a period...
