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What Estate Planning Documents do I Need?

What Estate Planning Documents Do I Need?

POSTED ON: May 10, 2024 BY: Troy Werner
Incapacity can happen to anyone at any time, but your risk generally increases as you grow older. Consider what would happen if, for example, you were unable to make decisions or conduct your own affairs.
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What Is the Primary Purpose of a Revocable Trust?

What Is the Primary Purpose of a Revocable Trust?

POSTED ON: May 9, 2024 BY: Troy Werner
Revocable trusts are much more common than irrevocable trusts because they provide many important estate planning benefits.
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Estate Planning and Long-Term Care: How can Seniors Afford Skilled Nursing in Their Senior Years

Estate Planning and Long-Term Care: How can Seniors Afford Skilled Nursing in Their Senior Years

POSTED ON: May 8, 2024 BY: Troy Werner
High healthcare costs often do not align with the fixed income of older individuals, raising concerns about affordability and accessibility. We explore the need for long-term care, why Medicare and Medicaid are not long-term options, and estate planning to plan for skilled nursing care proactively.
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An Estate Plan Question How Do My Heirs Receive Their Money?

An Estate Plan Question: How Do My Heirs Receive Their Money?

POSTED ON: May 7, 2024 BY: Troy Werner
This article explores trusts, distribution methods, and how a trust can make it easier or harder for heirs to receive the money.
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Why Communities Want Small Businesses to Have a Succession Plan in 2024

Why Communities Want Small Businesses to Have a Succession Plan in 2024

POSTED ON: May 6, 2024 BY: Troy Werner
Succession planning is elemental for small business owners, much like estate planning is for anyone with assets. Owners should have a plan ahead of retirement if they become incapacitated or pass away unexpectedly.
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Safeguarding against Financial Exploitation: Estate Planning for Cognitive Decline

Safeguarding against Financial Exploitation: Estate Planning for Cognitive Decline

POSTED ON: May 3, 2024 BY: Troy Werner
As family members and caregivers notice signs of cognitive decline in loved ones, it is essential to take proactive steps to safeguard assets.  Seeking guidance from an elder law attorney to navigate complex planning issues as well as guard against financial exploitation reduces vulnerability to fraud.
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Why are Inheritance Conversations Necessary?

Why are Inheritance Conversations Necessary?

POSTED ON: May 2, 2024 BY: Troy Werner
Death and money aren’t fun subjects to bring up over dinner. However, families who make time for that awkward chat now can spare deep regrets and potentially millions in lost dollars.
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Can You Support a Child with Special Needs

Can You Support a Child with Special Needs?

POSTED ON: May 1, 2024 BY: Troy Werner
Families that include individuals with special needs require planning to secure their loved ones’ security in the future, both in legal and financial terms. There’s usually no expectation of the child becoming an independent adult, so careful planning is needed, as advised in the recent article “Financial Planning for Families with Disabilities” from Wealth Management. Many families neglect planning for their retirement, focusing all their resources on developing a plan for their disabled child. However, retirement and their child’s future need to be secured, which is where an estate planning attorney can help. In 2014, Congress created The Achieving a…
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What are the Disadvantages of Dying without a Will?

What are the Disadvantages of Dying without a Will?

POSTED ON: April 30, 2024 BY: Troy Werner
People who die without a will can leave a thicket of probate problems for loved ones.
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Why is a Will Important?

Why is a Will Important?

POSTED ON: April 29, 2024 BY: Troy Werner
While many people put off wills until the unattainable ‘later,’ many others simply fail to create a will because they do not really understand what and how the document works.
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