The population of older Americans has increased at historic rates in recent decades and shows no signs of slowing down anytime soon. It seems only fitting then to designate a month each year to honor them. Each year, we do that during the month of May in the United States. This year, during Older Americans Month, take some time to learn more about Medicaid planning and how it might fit into your estate plan or into the estate plan of an elderly loved one. The Senior Explosion in the U.S. If it … [Read more...]
What Rights Do I Have As a Beneficiary of a Trust?
Not everyone is comfortable gifting assets outright to loved ones for a variety of reasons. Instead, a trust is often used to distribute assets to beneficiaries. If you are a beneficiary of a trust, you are dependent on the Trustee to make distributions from the trust as directed by the trust agreement. Most of the time, things run smoothly for the beneficiaries of a trust; however, there are also a number of things that can go wrong. To ensure that your interests are protected, the Overland … [Read more...]
Tools Overland Park Estate Planning Attorneys Help You Use
Overland Park Estate Planning Attorneys provide you with different legal tools that can help accomplish your future goals. There are a wide variety of different strategies you can create to accomplish your estate planning goals or to plan for your legacy. There are also tools that you can create to ensure your family is safe and protected in case you get sick.Understanding the different ways to keep your hard-earned assets safe, provide for loved ones, and get ready in case of illness can … [Read more...]
Comatose Nursing Home Patient Gives Birth in Arizona
For the loved ones of a nursing home patient, it truly is one of your worst nightmares – finding out that your loved one has been abused while at the facility. That is precisely what one Arizona family is going through. According to news reports that have made national headlines recently a 29-year-old comatose nursing home patient gave birth to a baby boy last December. Not only does the child’s birth make it clear that the patient was sexually abused, but it also raises questions about how no … [Read more...]
“Who Shot J.R.?”: The Ewing’s Big Estate Planning Mistake to Avoid
“Who Shot J.R.?” is one of the all-time great cliffhangers from the television series Dallas when J.R. Ewing was shot by an unknown assailant. In this short video, join Parman & Easterday's Founding Attorney and President, Larry Parman, on-site of the infamous Southfork Ranch where he discusses the big Estate Planning mistake the Ewing’s made that you want to avoid. Of course, the Ewing’s made plenty of other mistakes, but Larry knows better than to dive into those treacherous waters. … [Read more...]
Why Have a Revocable Trust?
When you create your first estate plan, it may be a very rudimentary plan consisting of nothing more than a Last Will and Testament. As your estate and your family grow, you will need to add tools and strategies to that initial estate plan to address the changes in your life. One estate planning tool you may consider incorporating into your plan is a revocable trust. There are numerous and varied ways one can be used to further your estate planning goals. Understanding How a Trust Works A … [Read more...]
What to Do after an Alzheimer’s Diagnosis
Alzheimer’s is the only major disease for which we have no cure, no known cause, and no method of prevention. While researchers may be getting close to identifying the factors that cause the disease, a definitive cause (or causes) has yet to be identified. For both the patient and his or her loved ones, an Alzheimer’s diagnosis can be very emotional and may take some time to accept. Focusing on the practical ramifications of the diagnosis is easier initially. With that in mind, the Overland Park … [Read more...]
Using an Incentive Trust to Maintain Control After You Are Gone
A comprehensive estate plan can accomplish much more than arranging for your estate assets to be distributed when you are gone. An important benefit of creating a comprehensive estate plan might be the ability to maintain a degree of control over how those assets are used after you are gone. The Oklahoma City living trust attorneys at Parman & Easterday will explain how an incentive trust can help you maintain control over your assets – and even your beneficiaries -- long after your … [Read more...]
3 Ways Medicaid Helps Protect Seniors
Overland Park Medicaid attorneys can provide invaluable help to seniors seeking to have their costs of care covered. If you are getting older, chances are you will have more urgent -- and more costly -- healthcare needs. Employee Benefit Research Institute estimated that a senior couple will need $370,000 to cover healthcare costs during retirement if they use any substantial amount of prescription drugs.Seniors who have to move to a nursing home or who need other long-term care will need … [Read more...]
How Do I Make Changes to My Living Trust?
Given how popular trusts are, there is a good chance you will include one in your comprehensive estate plan. As the Settlor or Trustor (creator) of the trust, you appoint the Trustee (manager), designate the trust beneficiaries, and dictate the terms used to administer the trust. You also choose how to fund the trust. No matter how much thought you put into these initial decisions, circumstances may change in the future and you will want or need to make changes to your trust. An Oklahoma City … [Read more...]
