This is the third in a three-part series of articles on Powers of Attorney. The first article examined the Financial Power of Attorney. The second
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Estate planning is the creation of a definite plan for the preservation and the distribution of your assets, both during your life and upon your death. Making an estate plan eases the management of your financial and legal affairs, while possibly minimizing taxes if your estate is large enough for taxes to be of concern.
When we talk about an estate, we mean all assets of any value that you own. This includes real property, business interests, investments, insurance proceeds, personal property and even your personal effects. An estate plan refers to the means by which your estate is passed on to your loved ones. Estate planning can be accomplished through a variety of methods, including:
Elder Law and Medicaid
The elderly often face significant challenges such as health care, Medicaid issues and costly nursing home care. Many families suffer financially – or lose their whole nest egg – when costs for an elderly or incapacitated loved one get out of hand. However, there are ways to protect your assets from such circumstances. Our Elder Law and Medicaid attorneys can guide you in the important – and ever-changing – area of Elder Law, Medicaid Planning, and related issues that face the elderly.