Retirement Accounts and Your Living Trust: What You Need to Know

Trusts can be a major tool in anyone’s estate planning portfolio. It is an instrument that allows you to easily pass assets to named beneficiaries without the delay, cost, and public nature of probate.

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Stand Alone Retirement Account Trusts and You

Most people want to leave something for their children or heirs after they pass away but doing so can be tricky and complicated. You do not want taxes eating up the assets or exposing them to creditors, being squandered by irresponsible beneficiaries or jeopardizing a special needs heir’s right to public benefits. One way to accomplish this is by setting up a “Stand-Alone Retirement Trust Account.” This is a complicated type of trust but an essential part of elder law and estate planning.

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Communicating with Elder Clients

Over 40 million people in the US are 65 or over and that number is expected to increase to more than 88 million by 2050. Older residents, or those 85 and over, will top 9 million by 2030. As the population grows older and nursing homes and assisted living facilities continue to fill up, the subject of how health care professionals, social workers, and elder law lawyers can communicate effectively with elderly individuals becomes paramount.

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Personal Care Arrangements

We like to think of our parents as being around forever but the inevitability of time and the aging process robs us of this desire. But before their time is up, there may be a period where your parent is no longer able to be self-sufficient or to perform many or all activities of daily living (ADL). To care for your loved one, personal care arrangements may need to be considered.

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Long-Term Planning for Persons with Special Needs

Having a special needs child or grandchild presents distinctly different challenges for all concerned. The child will need a lifetime of care or some type of assistance and will be eligible for public benefits in many cases. To provide for your child or grandchild, meet with a trusts and estates lawyer to discuss what measures can be taken.

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