Irrevocable Trusts
An irrevocable trust is a great tool to allow a family to protect its wealth. When setting up an irrevocable trust, an individual will convey ownership of a property to a trust, and no longer have control of that property. Typically this is done as a gift to the trust. [...]
Revocable Living Trust
A trust created by an individual that is still alive, referred to as a trustor, and administered by a trustee is commonly referred to as a revocable living trust. The trustee of a living trust can be the trustor while they are still alive, with there being a named successor [...]
Advance Directives: 5 Wishes
A unique advance directive offered to patients is typically referred to as a Five Wishes document. This type of advance directive allows you to let your friends, family and healthcare professionals know your wishes when it comes to your medical needs as well as your personal, emotional and spiritual needs. [...]
Advance Directives and Living Wills
Most health care professionals will agree that having an advance directive, or living will, is the most important document you will put together in your lifetime. This document helps your loved ones to understand your wishes when it comes to your end of life care, especially when you are no [...]
Recommendations for Choosing a Geriatric Care Manager
When using a geriatric care manager to assist with your long term care, you want to make sure you are choosing the right one for you and your family. Following the recommendations listed below will help to ensure that you are happy with your decision. Utilize the National Association of [...]
Durable Financial Power of Attorney
A financial power of attorney is a legal document giving an individual of your choosing the power to make financial decisions for you, should you become unable to make your own decisions. This document is a simple, inexpensive way for you to prepare for your finances. It also saves your [...]
Legal Documents Needed for Long Term Care Planning
The first step in planning for your long term care is making sure you have all the proper legal documentation put together. Essential to your long term care is a durable power of attorney for health care and a financial power of attorney as well. A durable power of attorney [...]
Long Term Care Strategy: IRA Money
Most times when you think about an IRA account, you think about retirement. But, some people are now considering IRA-based, long term care policies to plan for their future long term care needs. These policies can be started by taking a portion of your IRA and transferring it tax free, [...]