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Although they are often used interchangeably, disabilities and special needs have different meanings. Disability is a legal term referring to a physical or mental impairment substantially limiting one or more major life activities. Special needs is a more general term referring to any need that i...

When a dispute arises during the probate process, the legal process of administering the estate of a deceased person, it is called probate litigation. When someone passes away, their assets and debts must be settled and distributed according to their valid will or the applicable state laws of int...

The use of tax avoidance principles while transferring wealth is a smart way to protect your heirs from excessive taxes. Still, it requires careful planning and oversight to ensure techniques don't cross the line to tax evasion. Assessing tax options can determine the best way to conduct business...

An estate plan involves distributing property and money after a loved one dies. Though many people are familiar with wills as a means of distributing assets, trusts can be even more effective. A trust is a legal arrangement where a person, known as the grantor, settlor, or trustmaker, transfers t...

An integral part of philanthropy has always been charitable giving. People enjoy making meaningful contributions to causes that are close to their hearts. For those who wish to support charitable organizations while also benefiting from tax advantages and income streams, charitable remainder annu...

Travel by people with disabilities is referred to as “accessible travel” and “disabled travel” in recent years. People with disabilities simply refer to travel as “accessible travel” or “disabled travel”. There is a lot to consider when traveling with a disability. Proper research, planning, and ...

As federal and state laws change, estate planning is becoming more dynamic to efficiently manage and disperse a person's estate. These laws affect estate planning tax, trust, and charitable strategies, and the higher your net worth, the more critical it is to re-evaluate your plan. High Net Worth...

Power of attorney is an essential tool when you are preparing for a day when you will be incapacitated and a trusted agent will need to handle your affairs on your behalf. These legal documents can grant broad authority to one or more power of attorney agents to transact business or make medical ...

In estate planning, special needs children require special consideration. You'll need to assess how your child will be able to function in the world as they age. There are many questions to answer, including: What is the child's long-term prognosis What type of care is anticipated to meet th...

As a general rule, parents treat their children's inheritance equally, whether it's property or money. But sometimes, parents intentionally choose to not leave anything to a child, and the reasons for doing so may vary. One reason could be that a child who is more financially successful than the ...

Here are some tips to consider before searching for a home that can meet a physical or developmental need. The US Department of Housing and Urban Development (HUD) lists state and local government agencies and other organizations that can help you. At the federal level, HUD also provides informat...

In America, aging in place has become the norm for many aging adults. Nearly all older adults prefer to age in the comfort of their long-time homes and familiar community surroundings. Aging in place often means living alone. Pew Research findings show that older people are more likely to live al...

In estate planning and wealth transfer, people sometimes seek strategies that preserve their assets as well as provide them with financial benefits for life. One such strategy is the grantor-retained income trust (GRIT). GRITs offer a unique opportunity for individuals to retain an income stream ...

The purpose of the probate court is to verify the validity of a will and to ensure that an executor handles the decedent's assets, debts, and final tax filings in accordance with the decedent's wishes and the law. To begin probate, a personal representative or executor must file with the county c...

Trusts are generally created when one person or firm manages assets for the benefit of another. The person or entity is known as the trustee and has the responsibility of making decisions in the best interest of the trust beneficiary. Trusts are advantageous because they allow you to place condit...

As a result of widowhood or divorce, a greater number of older Americans are forming new partnerships. The US Census Bureau reports that more than half of all older adults have only married once, opting to stay legally single in their future relationships. Cohabitating can have unforeseen and uni...

When planning for the future care of their special needs child, parents have unique responsibilities. Funding a special needs trust (SNT) with life insurance is one of the most important things you can do to provide additional monies while protecting eligibility for government benefit programs. L...

Back in 2007, hotel heiress Leona Helmsley left a trust fund of $12 million for the care of her Maltese puppy named “Trouble.” The Value of an Animal Trust for Your Pet For those who care about the well-being of their animals or livestock, animal trusts can play an essential role in ensuring that...

It has become more important than ever to have a will, a living will, and perhaps even a living trust as a result of the COVID-19 pandemic in the US. Still, this knowledge is not translating into estate planning action. No matter your age or asset level, having a will is beneficial. According to ...

When you organize and prepare your financial information for the future, you will give peace of mind to yourself and relieve the burden on your loved ones. It will ensure proper management of your financial situation and afford control over your end-of-life and legacy. The goal is to make and mai...