You likely know what estate planning is and why it is so important to have an estate plan in place. Do you, however, know what legacy planning is? The idea behind the concept of legacy planning is to take estate planning to the next level. Legacy planning allows you to incorporate your ideals, beliefs, values, and faith into your estate planning endeavors. Instead of simply leaving behind assets, legacy planning lets you leave behind much more of who you are and what made you the person … [Read more...] about The Benefits of Legacy Planning
The older adult population in the United States has increased dramatically in recent years and is expected to continue to increase in the years to come. Sadly, that increase has led to a corresponding increase in elder abuse. Elder abuse occurs in several forms, including physical abuse, emotional abuse, and financial exploitation. If you are the caretaker of an older person, it is imperative that you take steps to prevent elder financial exploitation. An Oklahoma City elder law attorney at … [Read more...] about Tips to Prevent Elder Financial Exploitation
COVID-19, the novel coronavirus, has been a challenge confronting countries around the world. While healthcare systems have fought the virus, economies have been hurt by the social distancing required to combat the virus. However, there may be an opportunity for those wishing to do certain types of Estate Planning. Read on to learn more. by Steve Hartnett The novel “coronavirus” (also called “SARS-CoV-2”) causes the disease “COVID-19.” It first appeared in late 2019 and was reported to the … [Read more...] about Economic Fallout from Coronavirus May Provide Opportunities
If you are providing unpaid care for a family member or loved one suffering from Alzheimer’s disease it may seem as though no one else can possibly understand what you are going through. The truth, however, is that millions of people are currently providing unpaid care to loved ones with Alzheimer’s – and they pay a price for providing that care. Studies tell us that unpaid caregivers for those who have Alzheimer's or other dementia are more likely to have higher levels of stress hormones, … [Read more...] about Caring for a Loved One with Alzheimer’s
The earlier you begin planning for retirement the less you will need to save in the long run. In fact, you might be amazed to find out what a huge difference it makes to start saving earlier in your working career. To ensure that your retirement plan works as intended, however, it should be created in conjunction with your overall estate plan. An Oklahoma City retirement planning attorney at Parman & Easterday offers discusses how retirement planning fits into your estate plan. Retirement … [Read more...] about Retirement Planning and Your Estate Plan
"Intestacy" is the term used when one dies without a valid last will. Some people are under the impression that the government takes your property if you die estate. The reality is that legal rules of descent determine who will inherit your property. If you are married your closest relative is your surviving spouse and he or she will inherit some or all of your property, depending on whether you have children, if you die without a will. This does not mean there's no reason for you to … [Read more...] about Estate Planning For Domestic Partners
When devising a comprehensive long-term financial plan, it is important to take steps to protect your assets. Individuals in certain professions are naturally vulnerable to creditors and claimants and, if you do not take action to shield your personal resources, the consequences can be devastating. … [Read more...] about Are Your Assets In Harm’s Way?
Medicaid is a state-federal partnership that provides medical benefit assistance to people who qualify, especially those over 65 years of age. However, in order to qualify, you also need to meet certain financial requirements such as asset limits. However, if you have made “uncompensated transfers,” that could lead to a period of disqualification from the program. Read on to learn more. Uncompensated Transfers … [Read more...] about Uncompensated Transfers
Do you have a dog, cat, or other pet you consider part of the family? If the answer is “yes,” you probably spend a considerable amount of time and money on your pet. You may even include your pet in major decisions that impact the family. But is your pet protected if something happens to you? An Overland Park estate planning attorney at Parman & Easterday explains why pet planning should be incorporated into your estate plan. Pet Ownership Facts and Figures In the United States we have … [Read more...] about Is Your Pet Protected?
If you recently learned that you were appointed to be the Trustee of a trust, and this is the first time you have served in such a capacity, you might be somewhat intimidated at the prospect. The best way to ensure that you do not make a costly mistake in your role as Trustee is to retain the services of an experienced trust administration attorney. You may also find the following trust administration tips to be helpful from a trust administration attorney at Parman & … [Read more...] about Parman & Easterday Trust Administration Tips