Kaiden Elder Law Group, PC

A beneficiary of the account is someone who is entitled to the benefits of the account, typically, on the death of the account holder. If you’ve purchased life insurance, for example, you name a beneficiary who receives the benefits of the policy when you pass. https://bit.ly/3jbC8HC

Every estate is different in size and needs. It’s up to each individual to create an estate plan that fits their unique situation. Wills and trusts are both important steps in many people’s estate plan. https://yhoo.it/3vMUW5F

Your estate plan is much more likely to be successful when you recognize and avoid the most common mistakes and take some key actions that often are overlooked. https://bit.ly/3c8j6zZ

Estate planning is the process of preparing for end-of-life issues, planning for what will happen after your death, and taking control over your legacy. https://bit.ly/2VRe8OK

While a last will and testament requires a probate court process to distribute your assets to heirs, most trusts avoid probate. However, your lifestyle and personal preferences will dictate whether an irrevocable trust or a revocable trust is best suited to your needs.

The biggest advantage of beneficiary-designated accounts is that they avoid the legal probate process. As long as the beneficiaries are properly designated, those named take precedence over even what a will might say. #EstatePlanning https://bit.ly/3pgjiRY

A will isn’t always the best option for bequeathing everything. #EstatePlanning https://bit.ly/3lZxVXu

Many adults will need some type of long-term care in their lifetime. But it’s not always clear whether it’s covered or not. If you or a loved one have Medicare, you might be wondering about your options regarding long-term care should you need it down the road. https://bit.ly/36M9j0l

There are several myths about how estates must be distributed that can lead to stress about family dynamics. https://yhoo.it/3gr7mcy

Estate planning isn’t just for the wealthy and aging. It also includes provisions for while you’re still alive, and everyone can benefit from having a plan in place if they’re no longer able to care for themselves or make important decisions. http://bit.ly/2qv8cPB

A medical power of attorney gives a loved one or friend the legal capacity to make health decisions for you. These decisions may concern everything from which treatment option to proceed with, to whether or not to prolong your life through artificial means. https://yhoo.it/2NRyTtc

Knowing how debt works after death and being prepared with clear instructions for inheritors is one of the best ways to ensure that all your hard work pays off. https://on.mktw.net/2W2p63Y

Complex strategies and the ever-evolving tax code can make estate planning feel intimidating. However, ignoring it can be a costly mistake for your heirs, even if you don't have a lot of money in the bank. https://bit.ly/3jleurL

Whenever you ultimately decide to cut down your time at work or leave the workforce altogether, you need to ensure that you have a full slate of estate planning documents in place. https://bit.ly/3l8Wv8t

When do you need your estate plan to "go to work" for you? While you may think the right answer is "after I die," the actual answer is "if I lose the ability to manage my own affairs." https://bit.ly/2ExpwLk

No one likes to contemplate their mortality but making basic preparations with your finances can save your loved ones from financial stress while grieving your loss. Make sure to use beneficiary and POD designations whenever possible and have a will drawn up by an attorney to outline your final wishes. https://bit.ly/34eg7RV

There is significant complexity with the laws surrounding special needs trusts, so having an attorney with experience in the area is key. https://bit.ly/2HbZ2jB

With a rise in gray divorces in recent years, it’s only natural that remarriage has become more prevalent among seniors. But people tend to be lax about updating their estate plan. https://bit.ly/2Hb3Zcp

Every estate should have a will and some estates may include trusts. Your estate planner can help you to determine which vehicle fits best with your estate and your goals for cost, efficiency, privacy, and more. http://bit.ly/2Lzeea0

It is important to make sure we have current estate planning decisions and end-of-life decisions in place. https://bit.ly/32XLyir

While end-of-life planning may seem morbid, an estate plan can protect you and your assets not just after you die, but during your life as well.

If something were to happen to you, would your loved ones know your wishes and how to put your affairs in order? #EstatePlanning

Powers of attorney do not stand alone when it comes to Medicare issues. #ElderLaw https://bit.ly/2YpQVpf