E-Law Estate Planning & Elder Law

Happy St. Patrick’s Day! ??Luck isn’t just about chance, it’s about being prepared for whatever life brings. From securing your estate to planning for the future, taking proactive steps ensures your loved ones are protected no matter what. This St. Patrick’s Day, take a moment to invest in peace of mind and a secure legacy. Learn more today: www.planitforward.com #estateplanning #digitalassetprotection #lastwillandtestament #executor #TrustPlanning #assetprotection #blendedfamilies #estateplanningforminorchildren #probate #estateadministration #trusts #specialneedsplanning #specialneedstrusts #powerofattorney #Medicaidplanning #longtermcareplanning #eldercare #elderlawattorney #elderlaw

If you’ve considered options for elder care, you likely know that the costs can be overwhelming. In the United States, Medicaid, the primary funder for long-term care, spent over $200 billion on these services in 2021. The cost of long-term care can add up quickly, and waiting until it’s needed can limit your options. Consider setting up a long-term care plan now, this might include Medicaid planning, long-term care insurance, or a trust to protect assets. By planning ahead, you can secure the best care for yourself or a loved one without draining personal savings. Learn more today: https://lnkd.in/gVYdbZNw #estateplanning #digitalassetprotection #lastwillandtestament #executor #TrustPlanning #assetprotection #blendedfamilies #estateplanningforminorchildren #probate #estateadministration #trusts #specialneedsplanning #specialneedstrusts #powerofattorney #Medicaidplanning #longtermcareplanning #eldercare #elderlawattorney #elderlaw

Caring for a child with special needs means thinking ahead, especially when it comes to their financial security. A Special Needs Trust (SNT) ensures they have the resources they need without risking their eligibility for vital benefits like Medicaid and SSI. There are two types of SNTs: ?? Third-Party Special Needs Trust – Funded by parents or family as part of an estate plan, often through a Will or Living Trust. No payback to the state is required after the child’s passing. ?? Self-Settled Special Needs Trust – Funded with the child’s own assets, such as a personal injury settlement. After their passing, remaining funds may be used to reimburse the state for public assistance benefits received. Learn more today: https://lnkd.in/gbatQcMa #estateplanning #digitalassetprotection #lastwillandtestament #executor #TrustPlanning #assetprotection #blendedfamilies #estateplanningforminorchildren #probate #estateadministration #trusts #specialneedsplanning #specialneedstrusts #powerofattorney #Medicaidplanning #longtermcareplanning #eldercare #elderlawattorney #elderlaw

When handling secured debts during probate, such as mortgages or car loans, it's important to know these debts are tied to specific assets. If the debt remains unpaid, creditors may repossess or foreclose on the property. Beneficiaries who wish to keep the asset may need to refinance the debt. It's essential to understand these steps to avoid complications during the probate process. Learn more today: https://lnkd.in/gns4j-Hm #estateplanning #digitalassetprotection #lastwillandtestament #executor #TrustPlanning #assetprotection #blendedfamilies #estateplanningforminorchildren #probate #estateadministration #trusts #specialneedsplanning #specialneedstrusts #powerofattorney #Medicaidplanning #longtermcareplanning #eldercare #elderlawattorney #elderlaw

Guardianship assigns you full and irrevocable authority over the individual. If it's certain that the individual cannot make any safe medical decisions for themselves from this point forward, guardianship becomes necessary. A conservatorship means that you and the person you care for are on nearly equal footing. You are responsible for finances, investments, and property. They do have some say if they are cognizant of certain situations. If you have any further questions or need additional assistance please do not hesitate to reach out. We're here to help you. https://lnkd.in/ge4zbhYQ #estateplanning #digitalassetprotection #lastwillandtestament #executor #TrustPlanning #assetprotection #blendedfamilies #estateplanningforminorchildren #probate #estateadministration #trusts #specialneedsplanning #specialneedstrusts #powerofattorney #Medicaidplanning #longtermcareplanning #eldercare #elderlawattorney #elderlaw

When you think about business protection, do you consider trusts? Many business owners focus on LLCs and insurance, but trusts offer an extra layer of security that can safeguard your hard work. Here’s why trusts matter for your business: ?? Protect Against Litigation – Assets in a trust are shielded from legal claims. ?? Ensure Business Continuity – Trusts simplify succession planning, whether passing the business to family, employees, or external buyers. ?? Secure Beneficiaries' Futures – Keep assets safe from creditors and unexpected risks. Learn more today: https://lnkd.in/ggEseTZy #estateplanning #digitalassetprotection #lastwillandtestament #executor #TrustPlanning #assetprotection #blendedfamilies #estateplanningforminorchildren #probate

Failing to fund your trust undermines its primary purpose. To simplify the management and distribution of your assets. Here are some of the key reasons funding your trust is crucial: ?? Avoiding Probate: Assets left outside the trust may need to go through probate, which can be time-consuming and costly for your loved ones. ?? Ensuring Privacy: Unlike wills, which become public records during probate, a funded trust keeps your financial matters private. ?? Maintaining Control: Funding ensures your assets are distributed according to your wishes, free from interference by courts or New Mexico state laws. ?? Providing Continuity: A funded trust allows a successor trustee to manage your assets seamlessly if you become incapacitated. Learn more today: https://lnkd.in/gX7TEG9a #estateplanning #digitalassetprotection #lastwillandtestament #executor #TrustPlanning #assetprotection #blendedfamilies #estateplanningforminorchildren #probate #estateadministration #trusts #specialneedsplanning #specialneedstrusts #powerofattorney #Medicaidplanning #longtermcareplanning #eldercare #elderlawattorney #elderlaw

Thank you for sharing your experience with us, Tias H.! If you have any further questions or need additional assistance please do not hesitate to reach out. We're here to help you. #estateplanning #digitalassetprotection #lastwillandtestament #executor #TrustPlanning #assetprotection #blendedfamilies #estateplanningforminorchildren #probate #estateadministration #trusts #specialneedsplanning #specialneedstrusts #powerofattorney #Medicaidplanning #longtermcareplanning #eldercare #elderlawattorney #elderlaw

Creating an estate plan is a significant step in ensuring your assets are protected and distributed according to your wishes. An equally important decision is selecting the right trustee. A trustee is the person or entity responsible for managing your trust, following your instructions, and making crucial decisions about your assets. A trustee can be either a family member or a professional. It’s important to understand the benefits and drawbacks of both to make the best decision for your unique situation. Family Member as Trustee? ? Familiarity with your wishes and family dynamics.? ? Lower costs compared to a professional.? ? Potential for family disputes.? ? Limited expertise in financial and legal matters. Professional Trustee? ? Expertise in managing trusts and navigating legal requirements.? ? Neutrality in handling family conflicts.? ? Higher fees for their services.? ? Less personal connection to your family. Learn more today: https://lnkd.in/gu-HNtZr #estateplanning #digitalassetprotection #lastwillandtestament #executor #TrustPlanning #assetprotection #blendedfamilies #estateplanningforminorchildren #probate #estateadministration #trusts #specialneedsplanning #specialneedstrusts #powerofattorney #Medicaidplanning #longtermcareplanning #eldercare #elderlawattorney #elderlaw

Properly coordinating your estate and financial plans is essential to ensuring your wishes are fulfilled and your loved ones are supported. Misaligned plans can lead to costly tax burdens, unnecessary delays, and family disputes. Here are three essential steps to set your plans into motion: 1?? Align Beneficiary Designations: Double-check that the beneficiaries listed on your financial accounts match your will or trust. For example, your 401(k) beneficiary designations take precedence over your will—review them regularly. 2?? Communicate with Loved Ones: Have open conversations about your intentions. Discuss roles like trustees or agents under a power of attorney to avoid confusion later. 3?? Coordinate with Professional Advisors: Your estate planning attorney, financial advisor, and CPA should work together to address tax strategies, investment goals, and overall plan alignment. Learn more today: https://lnkd.in/gUrDBxc3 #estateplanning #digitalassetprotection #lastwillandtestament #executor #TrustPlanning #assetprotection #blendedfamilies #estateplanningforminorchildren #probate #estateadministration #trusts #specialneedsplanning #specialneedstrusts #powerofattorney #Medicaidplanning #longtermcareplanning #eldercare #elderlawattorney #elderlaw