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Category Archives: Estate Planning

Read more on the complicated issues related to estate planning that Alatsas Law Firm believes are pertinent to anyone considering or already planning their finance’s future

Seniors Should Be Mindful Before Marrying

When people marry for the second time (or more), losing assets to pay for their new spouse’s serious illness is probably the last thing on their minds when they say “I do.” But that could happen. Current costs for long-term care facilities can run between $70,000 – $150,000 annually. Studies show that 70% of Americans […]

Draft a Powerful Power of Attorney

Powerful “power of attorney” (POA) documents are essential, if there ever comes a time when you or your elder become unable to manage your finances or make health-care decisions. Beware if you rely only on POAs that hospitals provide, or that you have pulled off the Internet, or that you have got from other attorneys […]

The Current State of Retirement Savings

It is all over the media that nearly half of Americans aged 55 and older have no retirement savings in an individual retirement account (IRA) or 401(k) according to the federal Government Accountability Office (GAO). Also, while two out of five households do have a defined benefit plan (traditional pension), a full 29 percent of […]

Comparison of Estate Planning vs. Elder Law

The short answer: Both share similar concerns. The longer answer? The differences make all the difference. The Concerns are Similar No matter what age we’re in, life can deliver some hard knocks. Hope for the best, but plan for the worst. We can get into accidents, especially when we’re young and under the impression that […]

Prenups Are Not Just for the Wealthy

George and Ginny had a great marriage, with an extended family to whom they wanted to leave everything when they passed. Unfortunately, Ginny was then diagnosed with cancer. She began to worry: What could happen if she died before George did, and George remarried? Or vice versa? What if the second spouse started pushing to […]

The Importance of Legal Guardians and How to Choose a Guardian for Your Child

Many people think of a will as a document that sets forth who will get money and property after someone passes away, but a huge component of a will involves financial support and guardianship of minor children in the event of an untimely death. This is something that no parent wants to think about, but […]

What Is a Codicil, and How Is It Used to Change a Last Will and Testament?

One of the best things you can do to plan for your future and take care of your loved ones is to establish a last will and testament. However, circumstances in your life may change over time and render your original will specifications to be irrelevant or undesirable. You can make changes and updates to […]

Continuing Care Retirement Communities

Life plan communities — often referred to as continuing care retirement communities (CCRCs) — are an increasingly popular choice of aging Americans. These communities offer the array of care options necessary as seniors move through the stages of aging that include independent or assisted living, memory care, and skilled nursing. Beyond health care CCRCs offer […]

The 5 Things You Must Have in an Estate Plan

Estate planning is important for people of all ages, but as we age, the need for planning becomes even more critical. Many people avoid estate planning because they do not want to think about the end of life, failing health or disability. Others believe that an estate plan is only for rich people. However, an […]

Estate Planning and the Latest Tax Laws

Congress passed the Tax Cuts and Jobs Act in December of 2017 which is aimed at cutting taxes for corporations and all Americans. While the bulk of the legislation went into effect in January 2018, most taxpayers will not see much of a difference in their taxes until 2019, when they file their 2018 taxes. […]