When you create a trust, your goal is usually to provide protection for the assets you put into the trust. There are different kinds of trusts that can protect your assets from different risks and that protect your property in different ways. For example, certain trusts can keep your property safe in case of your incapacity, from misuse by irresponsible heirs who are bad at managing money, or in case you have to enter a costly nursing home. There are many different reasons for creating a … [Read more...]
Are Living Wills Different from Regular Wills?
Living wills are a very important component of your estate plan. Your estate plan may also include a last will and testament and even a trust. Many people are confused about the difference between a living will and a last will and testament, and an experienced estate planning attorney can advise you on the important differences between a living will and a last will. The attorney can also help you understand the legal tools that should be included in a comprehensive estate plan. Parman & … [Read more...]
Why Wills are Such a Common Estate Planning Tool?
It is important to understand the laws related to wills and probate so you can make informed decisions during the estate planning process. Many people do not take any action to plan for what happens at the end of their life or after their death. Of those who do make advanced plans, it is common to create a will but not to take any other estate planning steps. Creating just a will is not enough to provide you and your family with the protections you and they need and deserve. Parman & … [Read more...]
How to Find Good Elder Law Attorneys in Kansas City
Many people are interested in working with elder law attorneys in the Kansas City area who can provide them with assistance on key issues affecting seniors. It is not just older people who need help from elder law professionals either, as some of the legal matters elder law attorneys address are important for people of all ages. The legal issues for which elder law attorneys provide assistance include planning for incapacity, estate planning, financial planning, and legacy planning. In all … [Read more...]
Latter Life Expenses Loom Large
There is no issue of interest to the elder law community more attention-getting than that of long-term care costs. According to the United States Department of Health and Human Services, seven out of ten Americans will eventually require some type of long-term care. You will probably need care, and Medicare won't pay for it. All that's left is to get out your checkbook, right? That may be an option, but in 2016 the average annual expense for a private room in a nursing home was over … [Read more...]
Truly Protecting Minor Children Requires Preparing for the Unthinkable
One of your highest responsibilities as a truly loving parent is planning for the unthinkable. It is critical that you plan ahead in case you are not there for your minor children due to death or incapacity. Listen in as Larry Parman, Founding Attorney and Owner of Parman & Easterday, and Paralegal, Stacey Bond, discuss her tragic experience of losing her husband in her thirties with two young boys and why Estate Planning is so important for families with minor children. … [Read more...]
Retirement Planning: Consider Limitations
When planning for possible retirement, you have a lot of things to think about. There is the matter of financing your active retirement years, and there are some additional expenses that could arise during your twilight years. Accumulating necessary resources can be challenging for many individuals. Social Security income is quite limited. Sometimes there are no easy answers. Full retirement can be elusive. Many people are deciding to continue to work even after they become eligible … [Read more...]
Have You Reviewed Your Living Trust Lately?
Once you have an estate plan in place, you may breathe a sigh of relief feeling as though you have put a significant responsibility behind you. Considering that so many people never take this step, you really have accomplished something significant when you take action for the well-being of your loved ones. Having said this, it is important to recognize that estate planning is not a "one and done" endeavor. If you created a revocable living trust while a relatively young adult, as the years … [Read more...]
Why A New Job Means It Is Time to Talk with an Elder Law Attorney in Overland Park
If you have a new job, you may want to think about talking to an elder law attorney in Overland Park about your financial situation and your future planning. A new job is a time of new beginnings in your life. Maybe you have received a promotion and are earning more income, or maybe the new job offers different benefits than at your old position. An attorney can help you address the financial issues and opportunities your new position creates. Parman & Easterday has extensive experience … [Read more...]
Why The Most Important Things In Life Aren’t Things
Most people think about Estate Planning as a way to protect your money and stuff, passing it on to whom you want, when you want and how you want. Although traditional Estate Planning can certainly handle this, there are much more important things to think about than just financial assets. Passing on your Legacy is a revolutionary approach that plans for the monetary and emotional aspects of death. Listen in as Jerry Shiles, an Attorney with the Estate Planning and Elder Law Firm of Parman … [Read more...]
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