Wills are often solemn in nature. After all, they concern the disposition of one’s estate after one has passed away. So, it may be surprising that wills, in addition to the serious, sometimes contain the comedic, the absurd, and the downright bizarre. Smokes and Jokes Some individuals are upset by the notion of the their
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Did you know that you can write a legally binding will at the age of 18? This may come as a surprise since wills are typically (and rightly) associated with the end of one’s life. While the average life expectancy is much older (thankfully!) than 18 in the United States (78.7 years, to be exact),
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Estate planning is a must for protecting the assets you intend to leave to your loved ones. This is because your estate is subject to taxation. A strong estate plan strategically utilizes all applicable tax exemptions, thereby limiting the tax burden on the assets left to your beneficiaries. Without a smart estate plan, the tax
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Often, individuals attempt to write a will disposing of all their assets without the help of a wills attorney. The motivation for doing so is usually financial, with the thought being that a “do it yourself” document will save money. Sadly, this drive to save can actually bring significant costs, with the result being that
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There exists a misperception that ownership of significant assets is incompatible with eligibility for Medicaid. This is not always the case. In fact, with the assistance of a skilled elder law attorney, you may be able to qualify for Medicaid even if you possess a number of valuable assets. This is good news, as qualification
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Smart tax planning is a critical component in protecting assets you intend to leave your loved ones. Assets left to beneficiaries by a decedent are subject to the Federal Estate Tax. Absent a properly crafted estate tax plan, your loved ones may receive less than you intended. Fortunately, with the help of a skilled and
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Every state has its own laws concerning wills. Because individuals frequently live in more than one state across the span of a lifetime, it is essential to ensure that one’s will fully complies with his or her final state of residence. Your last wishes, and even the financial well-being of your loved ones, depends on
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Providing for the financial well-being of one’s minor children is a primary concern for every parent. Creating a Will or Revocable Living Trust that contains a support trust is reliable way to take care of this need. In creating a support trust, parents appoint a trustee who can administer the trust to provide for the
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Medicaid recovery simply refers to the state’s authority to seize financial resources and assets of an individual who has used Medicaid health insurance for a medical condition, or been a resident at a medical treatment or nursing facility. While many recipients of Medicaid benefits are excluded based on a lack of financial assets and other
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You can enter into a contract to buy or sell real estate by drafting the contract from scratch, or you can use a standardized form. Nearly every real estate agent in the country uses a standardized form. There’s a reason for that. They’re convenient. Agents need only fill in the blanks. Even if you’re the
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