If you become incapacitated, who is going to take care of you? You will not be able to make medical decisions for yourself and you will not be able to manage your day-to-day affairs. If you do not have the appropriate estate plan in place, your family may be headed to the probate court for living […]
Today we are sharing a post from the Special Needs Alliance newsletter The Voice. The Voice is the e-mail newsletter of The Special Needs Alliance. This installment of The Voice was written by Special Needs Alliance member Elizabeth L. Gray, CELA, a principal with the firm of McCandlish Lillard, with offices in Fairfax and Leesburg, Virginia. […]
Sometimes giving assets outright to a beneficiary – such a child, a grandchild or a special needs loved one – is not the ideal method of distributing assets in an estate plan. In such a scenario, a discretionary trust can be a good estate planning tool. Below is some basic information on discretionary trusts and how […]
Whether or not you have an estate plan in place, you have likely heard the term “probate”. Probate is the legal process by which a deceased individual’s assets are distributed under court supervision. This process is necessary to distribute assets that are solely in the name of the deceased person. Probate is governed by state law. […]
Estate plans are almost magical: They allow you to maintain control of your assets, and yet protect you should you become incapacitated. They take care of your family and pets. And, if carefully crafted, they reduce fees, taxes, stress, and time delays. Estate plans can even keep your family and financial affairs private. But one thing […]
If you have a loved one with disabilities, you may be familiar with “ABLE” accounts, authorized by Congress in 2014 under the Achieving a Better Life Experience Act. ABLE accounts are tax-advantaged savings accounts–similar to 529 education savings plans–whose funds can be used to pay for certain qualifying expenses of disabled individuals. As a result of […]
Since the birth of the world’s first test-tube baby, Louise Brown, in 1978, it is estimated that over 8 million children have been born through IVF and other advanced fertility treatments. These days, employers such as Apple, Microsoft, Netflix, and even JP Morgan and several big law firms, offer oocyte cryopreservation – egg freezing – as […]
Five words no one ever wants to hear from their doctor: “Get your affairs in order.” Unfortunately, 58 percent of Americans do not have a will or trust, and it often requires a chronic disease or terminal illness diagnosis, or other life-changing event to prompt the estate planning process. Talk to your attorney about completing the […]
Suddenly coming into money can be both a blessing and a curse. Whether you just signed a multiyear, multi-million dollar employment contract, received a significant inheritance, expect a large check from a lawsuit verdict or divorce settlement, or just won the lottery, you need help from professionals to avoid negative consequences from your windfall. Below are […]
It’s that time of year again: tax season. No one enjoys doing their taxes, and that is likely why many of us leave this tedious task to the last…possible…moment. As Tax Day approaches, millions of Americans are likely scrambling to track down all of their important documents to meet the April 15 deadline. But as with […]
