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Most people understand that by paying into Social Security throughout their careers, they can receive health care benefits through Medicare starting at age 65.  Individuals under age 65 who qualify to receive Social Security Disability benefits are also covered under Medicare, as well as anyone of any age who has Lou Gehrig’s disease, known as…

For women, securing enough retirement income can be a daunting proposition. Generally speaking, women face two significant hurdles to overcome to achieve a comfortable flow of retirement income. One hurdle involves longevity and the second deals with earning power. Women have a longer life expectancy than men do in the US. The Social Security Administration…

The silver tsunami of Americans has inspired the technology industry. There are continuous developments and implementations of inventive digital Internet of Things (IoT) solutions that transform the lives of aging adults as well as their caregivers. Each new tech development cycle strives to provide a product that is more robust while increasing its ease of…

Most people dream of the day they can retire. The problem is that many do not move beyond dreaming to planning. Planning can be done no matter what your age, but experts encourage people to start as early as possible. Retirement planning can seem like a daunting endeavor for many people as they focus on…

“Live not as though there were a thousand years ahead of you. Fate is at your elbow; make yourself good while life and power are still yours.” ~ Marcus Aurelius Drafting a Last Will and Testament, in addition to reviewing your assets and liabilities for a comprehensive estate plan, can be an uncomfortable experience because…

Many people have heard of properly “funding” their trusts. What does this mean? When I speak to clients I give an analogy about what a trust is. I tell them that a trust is like a big suitcase. If you go on vacation and take your suitcase, make sure that it’s full. If you take…

Trusts have been used for decades as an effective estate planning tool to avoid the cost and hassle of probate and ensure your assets are properly managed for the benefit of your beneficiaries. There are a myriad of ways a trust can be utilized, both for the transfer of assets within a family and in…

The birth of a child is an incredible, joyous moment in the lives of most parents. It is also an inflection point allowing you to take stock of your estate and plan properly to protect your spouse and your newborn child.  Yes, you will likely be strapped for time worrying about purchasing the safest car…

One of the primary benefits of creating an estate plan is taking a level of control over your future and how your assets will be distributed to your loved ones. An effective estate planning strategy for creating this type of control is a revocable living trust (also known as an inter vivos trust). You create the trust during your…

A question asked by some clients is whether they should name a trust as a beneficiary to their Individual Retirement Account (IRA). The answer depends largely on your specific circumstances. There are some potentially beneficial reasons for leaving IRA funds to a trust. The main benefit is for someone who cannot, or should not, be…

It is a common scenario couples find themselves in – you and your spouse create an estate plan leaving everything to each other and then to your minor children. A few years pass and you wind up getting a divorce. You begin to wonder if your estate plan is still valid post-divorce. The answer is…

In 2016, the 21st Century Cures Act was signed into law. This sweeping piece of legislation was drafted to help address a myriad of issues in medical research, the advancement of experimental medications, and mental health protocols. The law provides $4.8 billion in additional funding for the National Institutes of Health, along with $500 million…

If you’re like us, and like a lot of our clients, you have young children.  Raymond and his wife have a 5-year-old daughter, and Scott and his wife have a 5-year-old son and a 19-month-old daughter.  You’ve probably thought about what life might look like if you weren’t around to care for them.  Studies show…

You’ve worked hard your entire life saving up, paying down your mortgage and other liabilities, and building a sizable retirement fund. You did all of this expecting to live off those savings while you bask in the proverbial glow of retirement’s “golden years.” However, life throws a wrench in your plans and you suddenly suffer…

Three Common Trust Mistakes You Need to Avoid Incorporating a trust into your estate plan is a good idea. Trusts help you and your family avoid costly and time-consuming probate, can address the special needs of your children and other loved ones, and potentially avoid certain taxes. But if you fail to properly set up…

Choose the Right Nursing Homes in 4 Easy Steps As an attorney with young children, I am constantly concerned with the number of parents who have not properly planned. Everyone needs an estate plan. Planning ahead is not just for those in their 50’s and 60’s. Accidents and illnesses can happen to anyone. The reason…

Second marriages (and third and fourth marriages) are more and more common every year.  I see more and more clients come in who have strong and fabulous second and subsequent marriages with their new spouse.  However, blended families present many interpersonal challenges in real life; and just as many in estate planning. As strong as…

In 2011, the Missouri legislature enacted a law that enabled married couples to transfer property to a Qualified Spousal Trust (“QST”) and the property inside the QST would enjoy the same immunity from creditor claims if each spouses continued to hold the property under tenancy by the entirety. The QST was codified in Missouri Statute…

In the estate planning world, we see study after study showing that the majority of Americans still do not have a written estate plan. (60% according to the AARP: here) However, when we talk to friends and family, we hear time and again that everyone knows they SHOULD have a plan in place, they just…

According to many surveys, the majority of Americans don’t have an estate plan. Many of us know why we SHOULD have one. When I ask clients why it’s important to have a plan in place, most times they state two things. We don’t want the government to get our money. We don’t want to have…

If you are looking for a cautionary tale highlighting the pain and expense of dying without an estate plan, Exhibit A is the rock music icon Prince’s estate. It has been two years since news broke that Prince passed away due to an accident overdose of Fentanyl, a prescription pain medication. In those two years,…

Many people equate estate planning with postmortem concerns. Basically, what happens to their property and money after they pass on. However, an estate plan can, and should, incorporate long-term care. Why It is So Critical to Have a Plan in Place for Your Long-Term Care If you or your spouse need to stay in a…

It’s one of the proudest moments a parent can experience – sending their child off to college. It is a recognition that your child is entering a new chapter in life where they will (hopefully) learn to become an independent, self-sufficient adult. But this venture into adulthood also means that you, as a parent, will…

A commonly asked question by clients is “when should I schedule a comprehensive review of my estate plan?” First and foremost, if you are asking this question, you are ahead of the game. A recent survey showed nearly 65 percent of Americans lack even the most basic estate planning documents such as a Last Will and Testament.…

When you are creating your estate plan, an objective you should strive for is structuring your plan in a way to avoid probate. Probate is a statutorily-based  way of settling an estate requiring the oversight of a court. When probate is required, a surviving spouse or other love one, is typically appointed by the court if…

If you have a high-value estate, you can breathe easy about the federal government levying an onerous tax after you pass on. Congress passed, and the President signed into law, new tax legislation that will double the amount exempt from taxation by the federal government for estates and gifts. Prior to signing the new legislation,…

For many people, a pet is like a child. In fact, family pets are often referred to as “fur babies.” Just like a child, there needs to be a plan in place to make sure they are taken care of, in case you suddenly pass on or become incapacitated. Selecting a Caregiver for Your Fur…

If you have a trust as part of your estate plan, you will need to select someone, whether it be a friend, family member, or colleague, to serve as the trustee. This is a critical step because the trustee is obligated to ensure that your trust is administered in accordance to your wishes. What Exactly…

Doctors at the University of Miami hospital were presented with a unique ethical quagmire when paramedics brought in an unconscious man with a “Do Not Resuscitate” tattooed on his chest. The patient had a track record of serious health issues and a high blood alcohol level. He had no identification and no immediate family to…

When you pass on, you want your loved ones to get your assets in the most cost-effective, time-efficient manner possible. To accomplish this objective, you may be looking to avoid probate and placing a majority of your assets into a trust, including the funds in your IRA account. The risk associated with directing traditional IRA…