Recent News and Updates
Blog posts tagged with "estate planning"
As estate planners, we regularly confront death and are uniquely aware that, for better or worse, we as humans are never guaranteed another day. That fact, however, has never been more apparent to the rest of the world than it is right now. If you have put off your estate planning, please do not panic in these uncertain times by using a do-it-yourself website to create an estate plan. We recognize you may not want to leave your home. We can meet with you over the phone or virtually to get this process started.
COVID-19 has us all thinking differently. Last month, we were going about our day-to-day lives focusing on our work, projects, community involvement, parties, gatherings, and vacation-planning, to name a few. Now, the focus has completely shifted to our health, financial, and mental well-being. One question that comes to mind-if I or my family member gets sick, do we have a good estate plan in place to protect our family? Unfortunately, setting up an estate plan is one of those items that we tend to put off. It’s been on the yearly to-do list for years and years but we just haven’t gotten around to it. Well, now is the time to get around to it.
If you have designated a trust as your retirement plan (including IRAs) beneficiary, please contact your Critchfield attorney to have your trust reviewed for compatibility with the new Secure Act provisions.
Did you know there are income brackets for Medicare? There are, and the brackets are NOT identical to income tax brackets. Attorney Nicole Hawks shares insights into the Medicare bracket system and strategies for avoiding a bump into a higher bracket for both single and married seniors.
Almost everyone knows (or has heard) of the importance of having (at least) a will in place. It is a simple estate planning document, but is extremely important to make sure your wishes are carried out after your passing.
A second marriage later in life can trigger several issues regarding who will receive assets upon one spouse's death. However, additional issues may arise related to a spouse needing long term care (nursing home/assisted living).
As people live longer, remarriage becomes more and more common. People may lose their spouse or divorce while still contemplating a long life ahead for themselves. Statistics show that the largest population of people getting remarried are in the age
Planning your estate is the ideal time to consider your philanthropic goals. Once you establish your goals, you can then work with a planner to determine the most financially savvy and expeditious avenue to accomplish those goals.
Probate is a court procedure that enables your estate assets to transfer to your heirs. When you pass, the "title" to certain assets cannot transfer to your heirs unless your Will is probated.
The Substance Abuse and Mental Health Services Administration tells us that in 2014, 22.5 million Americans aged 12 and older self-reported needing treatment for alcohol or illicit drug use.