Modern Estate Planning Blog

The House Ways and Means Committee submitted their proposal to congress on September 13, 2021 that could bring incredible changes to our estate planning clients. As things continue to change, we’ve been keeping an eye on this topic and wanted to share some helpful information and resources for you so you can make a well-informed decision about how to protect your estate plan. The latest proposal on October 28, 2021 removed many of the changes related to estates and trusts.

In Part One, I described the crises that lead to both my parents needing care at the same time. Here is Tales From The Front: Part Two - Don't Be a Hero - Hiring the Right Professionals.

As many of you know, this is the second time in my life and career that first-hand elder law experience has touched me and my family. Ten years ago, my father-in-law developed Alzheimer’s dementia and my husband took the helm. I recently was able to experience the drama of elder law from the other side of the table with my parents. I am creating this blog series to share my experiences with the hope that you will avoid some of these mistakes.

What do you think of when you hear the word, “tax?” You may think of income taxes or maybe death taxes (estate taxes). The truth is, all of these taxes, along with other ones, too, can affect you and your estate plan. Here’s a brief overview of the different types of taxes

An Advance Healthcare Directive (AHCD) is an important legal document that will allow you to make choices for your future wellbeing, health care, and end-of-life care; as well as appoint a trusted person as your agent. Your chosen agent has the legal authority to make decisions for you and communicate with healthcare professionals if you are unable to. Without this very important legal document in place, no one, not even your spouse, has the legal authority to make decisions for you.

If you have created a trust, you have already achieved a huge accomplishment in getting your ducks in a row and ensuring peace of mind for you and your loved ones. However, the creation of your trust is really only the first step in securing your finances for the future.

If you feel like you are constantly buried beneath stacks of paper, it may be time to make a change and get organized. The more paper you have stacked on your desk, or hidden away in drawers, the harder it will be to find important documents when needed. Take some time to dig through your overflowing paperwork and throw out any outdated, unneeded documents, especially if they are only gathering dust. 

It is normal for any parent of a special needs child to want to plan out their future and give them the best life possible. Figuring out what they will need throughout their lifetime (and making sure they get that) is crucial. Children with special needs require more care and attention as their livelihood takes a bit more planning.

As soon as your child has their 18th birthday, they are legally seen as an adult in the state of California. This change in legal status results in a large shift as to what you can and cannot do as a parent.

Unfortunately, elder abuse is a common occurrence in everyday life, but the threat has increased substantially during the pandemic and could become more frequent due to the lack of visitation opportunities and the stress levels of current situations.

April is National Autism Awareness Month which encourages and promotes acceptance and support for the Autism community throughout the nation. 

When should you check if you need to update your estate? If you already have an estate plan in place, it’s a good idea to update it every three to five years. 

If you are a parent whose child has special needs, your job as a parent gets more complicated the day they turn 18. On that day they magically become an adult in the eyes of the law.

While it has benefited millions of people, using Medicare can be overwhelming. For many, it may even be difficult to figure out if you qualify for Medicare in-home care and know what is and isn’t covered. 

There are many misconceptions about what the legal document called a power of attorney does and what it involves. It’s important for you and your loved ones to know what these misconceptions are so you can be prepared for the process of getting a power of attorney as well as how to use it. 

To prevent financial pressure due to unexpected long-term care and medical costs, you need to create a plan of action to help you and your family in the future.

CalABLE is a tax-advantaged account where any earnings on funds in the account are tax-free. Distributions are also tax-free, as long as they are used towards disability expenses.

Celebrated every October, National Special Needs Law Month is that time of year when families, caregivers, attorneys and estate planners across the country are encouraged to explore the long-term needs of those who require specialized, ongoing care.

In this article I want to dispel the common myth regarding the school emergency cards we all fill out at the beginning of each school year.

There’s an extremely important, but poorly publicized, VA program we wanted to share with you today.