Creating a comprehensive and cohesive estate plan is one of the most valuable gifts you can give to both yourself and to your loved ones. An estate plan that functions as intended will protect your assets and help them grow over the course of your lifetime as well as ensure that your loved ones are provided for in the event of your death or incapacity. If you have an estate plan in place already, you are ahead of the majority of Americans; however, you are not done yet. In fact, reviewing and … [Read more...] about When Should I Update My Estate Plan?
Your estate plan can be simplistic and uncomplicated or complex and complicated, depending on the size of your estate and the variety of goals that need to be addressed within the plan. The more complex the plan, the more estate planning tools and strategies you will likely incorporate into the plan. One estate planning tools that can be found in the most basic as well as the most intricate of plans is a living trust. Riverside elder law attorney Dennis M. Sandoval suggests you consider the … [Read more...] about Top 3 Reasons to Include a Living Trust in Your Estate Plan
Probate of Prince's Estate Drags On Now two years after Prince's death, his estate remains a mess. With estimates of a value in excess of $200 million, the IRS and executor Comerica Bank don't look any closer at agreeing to a value for the estate or the amount and the timing of payment of estate taxes. Comerica and its attorneys have already been paid $5.9 million with a pending request for another $2.9 million in fees. That doesn't include fees for accountants, appraisers, attorneys for the … [Read more...] about Two years after his death, Prince’s estate remains unsettled
When most people think about the need for an estate plan, they focus on the need to plan for how their estate will be handled after their death. While ensuring that your estate is handled according to your wishes after you are gone is certainly reason enough to create an estate plan, there is another equally important reason – planning for the possibility of incapacity. If incapacity does strike, who will manage your estate assets? Incorporating an incapacity planning component in your … [Read more...] about Are There Alternatives for Managing Property When Someone becomes Incapacitated?
A Power of Attorney, or POA, is among the most common estate planning tools. Most people, at some point in their life, either create a POA or act as an Agent under a POA created by someone else. Unfortunately, a Power of Attorney is also one of the most frequently abused legal documents. One reason for that is that all too often the person creating the POA does not truly understand the power and authority conveyed in the document. With that in mind, the Riverside elder lawyers at Dennis M. … [Read more...] about Understanding the Power in a Power of Attorney
If you have a parent who is in a nursing home, or is otherwise dependent on caregivers, you probably worry about his/her physical and mental wellbeing. If you are not the one providing all of your parent’s care, it is completely understandable that you would be concerned about the care that is being provided by someone else, particularly when we hear stories about elder abuse on a regular basis in the news. What should you do if you start to suspect that your parent is the victim of elder abuse? … [Read more...] about Steps to Take If You Suspect Elder Abuse
Attorneys for Stan Lee, of Marvel Comics legend, were back in court recently to request a renewal of a protective order against a previous business manager. Lee’s legal battle to retain control over his fortune and decision-making capabilities illustrate all too well how seniors can become victims of elder abuse. Fortunately, Lee was granted a renewal of the protective order; however, many seniors are not as fortunate. Who Represents Lee? Before the issue of the restraining order could be … [Read more...] about Stan Lee Wins Extended Protective Order
Queen of Soul Dies Intestate Aretha Franklin, the Queen of Soul, passed away at the age of 76, the victim of advanced pancreatic cancer at her home outside of Detroit. Her family released the statement: “In one of the darkest moments of our lives, we are not able to find the appropriate words to express the pain in our heart. We have lost the matriarch and rock of our family. The love she had for her children, grandchildren, nieces, nephews, and cousins knew no bounds.” Documents filed by … [Read more...] about Queen of Soul Dies Without An Estate Plan
Eligibility for Veteran's Disability Benefits Veterans who have a disability related to their time in the service may be entitled to disability benefits. An example could be a gunner who now suffer from loss of hearing and tinnitus. The severity of the disability will result in the rating of disability. Some disabilities may only be rated at 10% or 20%, whereas other disabilities might be rated at 80% or complete disability. A veteran might also have many disabilities that when combined … [Read more...] about Vietnam Veterans With Certain Diseases Have Easier Time Claiming Disability Benefits
Estate planning for U. S. citizens who own assets in foreign countries can be tricky. Sometimes it is even more difficult to properly plan for a Non - U. S. citizen with assets in the United States. Probably most difficult of all is estate planning for the resident alien. This blog post by the American Academy of Estate Planning Attorneys looks at the estate tax treatment of U.S. citizens, resident aliens and non-resident aliens. The article then looks at an example of someone who lived in the … [Read more...] about Planning for the International Client