Elder Law News & Publications
How an Irrevocable Life Insurance Trust Can Be Used to Avoid the Estate Tax
With the federal estate tax exemption possibly about to be lowered, it may be time to think about steps you can take to keep your estate from being taxed. An irrevocable life insurance trust allows you to pass on money to your heirs while avoiding estate taxes.
A Look at America’s Most Popular Pension Plan: Social Security
Approximately 50% of elderly Americans receive at least half of their income from Social Security. Let’s take a look at this important program and some of the changes coming this year. Eligibility. Eligibility for Social Security is based on the number of credits...
Understanding Revocable and Irrevocable Trusts
Trusts are a part of many estate plans in Kentucky. There are different trust types to choose from. An estate planning lawyer can help you to understand the differences so you can make the most informed decision for you and your family. A trust is an agreement between...
Using Estate Planning to Prepare for Medicaid
Long-term care involves not only a loss of personal autonomy; it also comes at a tremendous financial price. Proper planning can help your family prepare for the financial toll and protect assets for future generations.
Four Questions to Help You Choose the Right Professional Trustee for Your Special Needs Trust
Not every potential trustee provides the best services for trusts designed for children with special needs. Here are some questions to ask while searching for the right one for your new trust.
Married Couples Need an Estate Plan
Don’t assume your estate will automatically go to your spouse when you die. If you don’t have an estate plan, your spouse may have to share your estate with other family members.
Kentucky State Laws Concerning Wills
In the state of Kentucky, as in other states, it is important for anyone who wants their final wishes to be honored to make a will. A will stipulates how a person wants to distribute their assets after death, and empowers the beneficiaries to receive their...
Congress Fixes Some, But Not All, Medicare Enrollment Problems
Tucked in the federal spending bill that passed at the end of December 2020 are some changes aimed at simplifying Medicare enrollment and addressing coverage gaps. But Congress chose not to address the biggest problem.
Ways of Changing Your Will
While making a will is usually a permanent way to specify how your assets will be distributed among your beneficiaries, sometimes events can arise that make it necessary to change a will. For example, a marriage, a divorce, the sudden death or birth of a child or the...
Moving to a New State? Be Sure to Update Your Estate Plan
While legally you may not need all-new estate planning documents if you move to a different state, you should have your documents reviewed by a local attorney in your new home.
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