Every year, about 6,000 babies with Down syndrome are born in the United States. Over their lifetimes, many of these children will contend with serious medical conditions including heart defects, gastrointestinal problems, visual or hearing impairment, dementia, and early-onset Alzheimer’s disease. As a result, the costs associated with Down syndrome can be astronomical and many of those with the condition receive public benefits, such as Medicaid or Supplemental Security Income … [Read more...]
Your Independence, Rising Medical Costs, and Retirement
Many of us believe we have the “planning for the future” space covered. We’ve worked hard and saved. Our homes are paid off by the time we go into retirement and as far as we’re concerned, life now consists of living well in the way we define. In a perfect world, that’s true. In reality, there are a few things that can quickly annihilate our sense of independence. Planning is key, but knowing precisely what you need to plan for is crucial. It’s not uncommon to hear stories like this: A … [Read more...]
Five Estate Planning Myths
Estate planning. It’s on everyone’s “should do” list, but it rarely seems to make it to the top of the “to do” list. Maybe that’s because estate planning is surrounded by myths and misconceptions. People think it’s only for the wealthy, or only for the elderly. The truth is, everyone needs some form of estate planning because estate planning is life planning. Let’s do away with five common estate planning myths: Estate Planning is Only for the Elderly. Physicist Niels Bohr said, … [Read more...]
Who can contest a will?
In order to have standing to contest a will, you need to prove that something about how the will was written may be illegal. You won’t have standing if the will is ironclad, even if the distribution of assets may seem unfair. The following parties have standing to contest a will: Beneficiaries already named in the willBeneficiaries named in a previous will, who were written out of the most recent version of will, or whose share of the estate was significantly decreased by the newest … [Read more...]
A Child with Special Needs, Needs Special Planning
It's a painful dilemma that parents of a child with special needs often face: to keep their child eligible for important federal and state benefit programs, the child can have few assets. That leaves parents with a difficult choice: provide a legacy for their special child and hope it will be sufficient for all his needs, or make the child a virtual pauper and retain his or her eligibility for government assistance. Fortunately, a Special Needs Trust provides a simple answer within reach of … [Read more...]
