Elder Law Estate Planning

Sprache: Englisch

Verlag: Createspace Independent Publishing Platform, 2015

1507844956 / 9781507844953

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Artikelbeschreibung des Verkäufers

Too many people think that a will is all the estate planning they need. Yet wills often fail to take into account the majority of a client's assets. Wills do not govern assets passing by beneficiary designations, such as IRA's, life insurance and annuities. Furthermore, clients are increasingly using POD (pay on death), TOD (transfer on death) and ITF (in trust for) designations to entirely bypass the will and the antiquated probate system. As a result, in many cases the bulk of a client's estate is actually unplanned, except to avoid probate. By this we mean that the assets may still be unprotected from a Medicaid spend down if the client one day needs nursing home care; the assets are not protected from the heirs' divorces, lawsuits and creditors; the assets are not structured to stay in the bloodline to the client's grandchildren and the assets are not protected from a spouse's later remarriage.Perhaps the biggest drawback to relying on a will as an estate plan is that it utterly fails to address the senior client's most important issue - planning for disability. Absent a plan for disability, the state has written a plan called guardianship. In guardianship proceedings a judge chooses who will handle your legal, financial and sometimes even medical affairs if you become disabled.Elder Law Estate Planning avoids guardianship proceedings - virtually guaranteeing you will get the person or persons you choose to handle your affairs if you become disabled - usually one or more of your adult children, instead of a state appointed guardian.With the high costs of nursing homes today, clients who don't plan for disability to protect their assets risk losing everything they've worked for.Elder Law Estate Planning emphasizes the use of trusts rather than wills to solve the myriad legal problems arising from disability and death. Elder law is disability planning to put the people you choose in charge and to protect some or all of your assets from long-term care costs. Estate planning is death planning to make sure your assets go to whom you want, when you want and the way you want. Estate Planning includes protecting assets from children's divorces, lawsuits and creditors, and from a spouse's possible remarriage while keeping those assets in the blood for generations to come.…

Bestandsnummer des Verkäufers CIN1507844956A

Titel
Elder Law Estate Planning
Autor
Michael Ettinger
Verlag
Createspace Independent Publishing Platform
Erscheinungsjahr
2015
Zustand
Fair
Einband
Paperback
Sprache
Englisch
ISBN-10
1507844956
ISBN-13
9781507844953

World of Books (was SecondSale)

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Verkäufer:in bei AbeBooks seit 20. Dezember 2007

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