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Elder Law Office of David Wingate, LLC

Posts Tagged ‘wills and trusts’

Seniors who are facing changes in their health and mental abilities face several important legal and financial decisions.

They need to plan how to protect their savings and other assets as the cost of their care increases. They need legal strategies to make sure their estate does not get taxed more than it needs to. And they need to appoint a responsible spokesperson to act on their behalf if they become no longer able to do so themselves. While these decisions can certainly be made with the help of friends, books and Internet forms, it’s also a good idea to consider talking with an eldercare attorney. An eldercare attorney listens to you and your wishes, and helps you…

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When Should I Review My Elder-Law Estate Plan?

A mistake in elder-law estate planning is failure to regularly review the plan. At a minimum, each client's estate plan should be reviewed every three years to determine whether changes in the client's personal life, such as health, assets or family history (births, deaths, marriages, divorces, etc.) might require changes to the plan. Similarly, changes in the law may lead to changes in the plan. It is unrealistic to expect a plan established today to be effective 10, 20, 30 or more years in the future. Over time, clients may want to change their backup trustees or plan of distribution….

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