Planning for Incapacity
When most people think of estate planning, they think of what happens on their death. However, estate planning also includes what happens while you are still alive but unable to make financial or healthcare decisions. Incapacity can mean that you would need someone to pay your bills, file your taxes, attend appointments with you, etc. […]
Food In-Kind Support Will No Longer Affect SSI Benefits
Recently, the Social Security Administration (SSA) issued a new rule: starting September 30, 2024 food support is no longer considered in kind support, and will not effect supplemental security income payouts. This change is potentially huge. It simultaneously provides new flexibility AND simplifies record-keeping and reporting. What is Supplemental Security Income? Supplemental Security Income (also […]
March wrap-up: Alzheimer’s detection and human composting
It’s the last Sunday of March. This month was all about Alzheimer detection and a new, eco-friendly way to dispose of your remains called human composting. Alzheimer’s News A new study estimates 6.9 million Americans have Alzheimer’s disease and another five to seven million have mild cognitive impairment. Getting an Alzheimer’s diagnosis is usually a […]
How Do Guardians Make Decisions For Their Wards?
Guardians make decisions on behalf of their ward. While this may seem pretty straight forward, often times, it’s not simple at all. On the one hand, the guardian should promote the ward’s autonomy and dignity. On the other hand, the guardian needs to protect the ward from exploitation and sometimes, from their own diminished decision-making […]
Corporate Transparency Act and Beneficial Ownership Reporting
In 2021, Congress enacted the Corporate Transparency Act (CTA). In an effort to curb financial crimes, the CTA included a new federal reporting requirement for beneficial ownership information (BOI). The law requires many companies doing business in the United States to report who owns or controls the company. Who has to report? Companies required to […]
Oklahoma Living Will Case Shows Difficulty in Implementation
Imagine that you have been diagnosed with a serious and debilitating disease. Your prognosis is not good, and the likelihood that you will become incapacitated is high. One thing you should consider is execution of a living will and other advance directives. Of course, everyone should consider signing a living will and a health care […]
Transferring Your Home on Your Death
There are a number of ways to transfer your home, or other real property, on your death, including joint tenancy with right of survivorship, beneficiary deed, will or trust. Joint Tenancy and Beneficiary Deed If you own your home with another person with right of survivorship, your share of the home will automatically transfer to […]
February wrap-up: conservatorship news and ERISA suits
Valentine’s day has come and gone and it’s time for the end-of-the-month wrap up! This month we have stories about environmentally friendly estate plans, ERISA law suits and even a new February holiday (and this one isn’t limited to couples). Estate Planning Forbes wrote an article this month on uncomfortable issues you might find yourself […]
Do You Need a Guardianship and/or Conservatorship?
You may think that you have to get a guardianship and/or conservatorship when someone close to you is losing capacity. A guardianship allows the court to appoint someone to make decisions over a person when the person can no longer do so themselves. A conservatorship is the same concept except over that person’s property. Some […]
Formal vs. Informal Probate- What’s the difference?
If a loved one died recently, you may have found yourself in need of opening a probate. For many, this strikes fear into their hearts, or at the very least makes them groan in dissatisfaction. Probate is notorious for being time-intensive, expensive and just a general pain to go through. Here in Arizona, there are […]
