As working adults begin to enter the next stage of their lives, finding an estate planning lawyer becomes a very important step. These professionals can help prepare a plan that details what happens to an estate – meaning the collection of everything a person owns, though this doesn’t necessarily mean owning real estate or having a large savings account – in the case of injury or death. Things to be considered include a living will, trusts, and determining who inherits property after a person dies. Continue reading “Our New Folsom Location”
Elder law, including estate planning, is an important field of law. Here are three things you may not have previously known about how estate planning lawyers can help you.
Whether you require a guardianship, health care, or estate planning lawyer, you should turn to an attorney that you feel you can rely on. Before finding one, consider these three topics.
Seventy percent of people who live to the age of 65 will need some form of long-term care. However, Medicare, Medicaid, and health insurance are designed more for short-term care and may not cover your needs. A lawyer with experience in elder law can help you navigate the system.
Approximately 55 percent of adults in America don’t have a will or other estate plan. If you pass away without a will, your state will distribute your property and belongings among your living heirs, perhaps contrary to your wishes.
As a person ages, their medical care, finances, and physical health needs become more complicated. Often, children or spouses can become confused and make costly mistakes. Elder law attorneys are trained to be informed advocates for their clients. If you or a loved one is in need of elder care or an estate planning lawyer, Roseville area families should know that attorneys are one of the biggest assets they can have during this period.
Legal Document Review & Updates
When was the last time you had your Will or Trust reviewed?
Too often people create an estate plan, shove it in a drawer or safe deposit box, and never look at it again. This is a problem, because an outdated estate plan can be worse than having no estate plan at all! Reviews of your estate plan need to happen every two to five years to verify that the plan still supports your current needs and goals.
Situations that could require changes to your Will or Trust include:
- Relocation of primary residence
- Having a trust that requires you to split your trust at the first settlor’s death
- Death or divorce in the family
- Receipt of an inheritance
- Change in what you want your beneficiaries to receive or how and when they will receive their requests
- Change in bequests to someone
- Acquired assets that need to be added to the trust
Don’t leave your loved ones to fight through the unintended consequences of an outdated estate plan. The law office of Yee Law Group, PC will happily review your existing documents to align with your current circumstances and future goals.
Compassionate listeners. Experienced advisors.
Address: Yee Law Group, PC, PC
950 Reserve Drive, Ste. 110, Roseville, CA 95678
Call: (916) 599-7297
Fax: (916) 471-0160
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As we tend to live longer lives than past generations, more and more of us will wind up needing long-term care or moving into a nursing home or assisted living facility at some point. Among the many challenges facing seniors and their families when that time comes is the fact that such comprehensive care can easily cost between $4,000-$6,000 a month. Continue reading “Why You Need to Start Medi-Cal Planning Today”
Even though more and more retail business is conducted online, and notwithstanding the fact that many other enterprises can be run from the comfort of any home with a reliable and fast Internet connection, brick and mortar offices and stores won’t be disappearing any time soon. As discussed in this recent article, local experts are expecting continued growth in the Sacramento commercial real estate market. Continue reading “Consider These Provisions Before Leasing Commercial Space”
An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed. Absent special circumstances, an offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement. Continue reading “Offers in Compromise: Settling Up With the IRS”
For families and seniors, the process of moving into a nursing home or assisted living facility can be taxing and emotional. During this time, many practical considerations must be addressed, including ensuring that all concerned have a full understanding of the rights and responsibilities that come with admission into the facility. These terms will generally be contained in an admission agreement that will be executed prior to the date that the senior moves in. Continue reading “California Nursing Home Admission Agreements: What You Need to Know”
We represent a lot of smaller and family-owned businesses here in the Sacramento/Roseville area, and seeing our clients’ enterprises grow and thrive, and assisting them along the way, is one of the great joys of what we do at Yee Law Group, PC. Continue reading “Have You Thought About Business Succession Planning?”
In a previous post I discussed the dangers to unwary taxpayers of Income in Respect of a Decedent (IRD), which I include in the category of “stealth taxes;” taxes that are particularly difficult to identify or isolate. Continue reading “The Alternative Minimum Tax: Yet Another “Stealth Tax””
Even within the context of a tax code filled with a seemingly endless and unnecessarily complicated supply of liabilities, exemptions, and loopholes, some taxes are particularly insidious in their ability to surprise an unwary taxpayer. One such “stealth tax,” as I refer to taxes that are particularly difficult to identify or isolate, is called Income in Respect of a Decedent (IRD). Continue reading “Income in Respect of a Decedent: A “Stealth Tax” You Need to Understand”