Estate planning is an activity many families, especially in lower-income communities, don't often use, despite its many benefits. Two-thirds of Americans don't have a will, according to the 2022 Caring.com survey.
How should you include digital assets in your estate plans? What do your heirs need to know about inheriting these assets?
When you fail to plan for your death, your heirs may end up fighting.
It’s perfectly normal for aging parents who are currently completing their will along with their lawyer’s guidance, to leave the family home to their children.
If you are getting remarried, you obviously want to celebrate. However, it is also important to focus on less exciting matters, like redoing your estate plan.
With so many ways to claim benefits, especially if you are married or were divorced at some point in your life, small mistakes can add up to a big difference in the amount of Social Security benefits you receive, says a recent article, “11 Social Security Mistakes That Can Cost You a Fortune” from Nasdaq. Here's a list of some of the biggest Social Security mistakes people make: 1. Not Reviewing Your Earnings Statement Annually Not checking your earnings record during your working life can add up to significant losses. Even if you’re decades away from claiming, you should check your earnings record annually since this is what Social Security benefits are based on, not the amount of taxes you or your employer(s) paid. You can create or log into a mySocial Security online account to gain information related to estimates for retirement, disability, and survivors benefits you and your family may be eligible for. Common mistakes include employers recording incorrect earnings or earnings not showing up because you changed your name and the name change wasn’t processed correctly. Check your statement annually to avoid losing the right number of benefits because of earnings record mistakes. If you see an…
As the Eagles ready themselves for a farewell tour that spans two months in late 2023, it's hard not to think about their late guitarist Glenn Frey who passed away in January 2016.
Children are treated fairly when it comes to inheritance. But “fair” doesn’t always mean “equal,” especially if your family situation or assets are complicated. In some circumstances, giving kids equal inheritances may not be the best option.
A primary goal of most married couples when contemplating basic estate planning documents is to ensure that the surviving spouse, and commonly, the couple's children and grandchildren, are supported financially.
For many seniors, the thought of estate planning can seem daunting, the complex laws and myriad of decisions to be made can be overwhelming. But rest assured, with the help of an experienced Omaha Medicaid planning attorney, this process can be navigated smoothly, ensuring you can enjoy your golden years in peace and security. Why Estate Planning Matters As we age, our needs and circumstances change. What might have been an appropriate strategy in our 40s might not serve us well in our 70s or 80s. This is especially true when it comes to preparing for potential long-term care and healthcare costs, including those covered by Medicaid. In Nebraska, the annual costs of nursing home care can quickly drain your nest egg, leaving little for your heirs. That's why it's important to plan ahead with a solid estate plan. Watch a brief masterclass by our owner and lead Omaha estate planning attorney, Andrew Sigerson: The Five Disastrous Mistakes that Drain Your Nest Egg to the Nursing Home. The Role of an Omaha Medicaid Planning Attorney Medicaid planning is a critical component of any comprehensive estate plan for seniors. It involves employing strategies to protect your assets while ensuring you're eligible…
