In the past few weeks, an escalating number of clients have hurried to meet by videoconference and phone with their legal advisers.
Mortality is on everyone’s minds. Spurred by the coronavirus pandemic, clients who I haven't touched their legal documents in years as well as prospective new clients, have been reaching out to update their existing estate planning documents, or write new ones.
COVID-19 has caused scores of people to write Wills and make critical estate planning decisions about who will oversee their medical care and finances if they become ill or incapacitated. Yet, more than 50 percent of people age 55-plus do not have a Will or the other key estate planning documents they might need during the pandemic, according to Caring.com.
If you have adult children, do they know how much money you make, how much you have tucked away, and how much you spend each year?
It is quite common that adult children are caught unaware or without access to funds when tragedy strikes. When a parent's finances are revealed only after death, or when a debilitating illness strikes, the responsibility can place a lot of stress on the offspring.
Simple, essential steps for putting your affairs in order
The steady drone of coronavirus news this year has spurred countless older Americans to face a long-procrastinated task: writing — or rewriting — their wills. A 2016 Gallup poll found that more than 30 percent of people 65 and older and more than 40 percent of people ages 50 through 64, do not have a will. The main reasons people stall, according to Caring.com? Most say they haven't gotten around to it, or they don't have enough assets to leave to anyone.
The 7 Questions you should consider to avoid confusion or conflict after your death. If you have ever considered how you want your estate to be distributed after you die. Hopefully, you’ve written a will to make sure your wishes will be followed. If not, let’s talk!
Assuming you do have a Will, your estate is planned…right?
While most of us would like to think that estate planning is that simple, there are other things to consider as part of the process, and topics that need to be revisited over time. Sometimes, your life changes. Sometimes, the law changes.
When you die, your executor will typically have more than 100 tasks to handle to settle your estate. Which means anything you can do in advance to add clarity and lessen the burden of that person’s work is always a good idea.
Here is a list of seven things to consider, when making sure your estate has a plan in place:
Many questions are being asked as the coronavirus crisis confronts our communities, raising uncertainty, isolation, and the risk of illness. During this health crisis, we are all concerned with ensuring that we will receive the medical care we need and want.
Here at Tacoma Elder Care we want to provide you with some important tips to ensure you will be prepared regardless of what might happen to you or your loved ones.
Bob Michaels is extremely passionate about providing the best possible legal experience for his clients, and focuses his practice on elder law, estate planning, business, and real estate matters. Bob has been able to provide piece of mind and a solid foundation to many folks in the Puget Sound area over the years and wants to provide resources and relevant information whenever he can. For more information on how Bob can help your loved ones through these troubling times, contact Bob to schedule a FREE consultation.
Many scientific studies have established that there is a wide range of benefits that flow from a positive attitude and positive thinking. At a time when many are focused on worst-case scenarios and gloomy predictions, try resisting the pull of negativity and embrace the beneficial results of positivity.
You can increase not only your own well-being but also that of your children or other beneficiaries, by creating an estate plan designed to promote their happiness, which in turn, will enable them to live healthier and more successful lives.