Among the 54 million Americans 65 or older, there is a 70% chance that at some point, a senior will need long-term care services. For most people, that care is provided in their homes and often by those who are unpaid, such as spouses, adult children and other loved ones. One relief program designed for caregivers is respite care, where a loved one can be cared for without family aid for up to several hours or days a week. Mary Ann Mondragon, who is a caregiver specialist at Caregivers SOS, a WellMed charitable foundation program, said there is lots of help available. “We have training. We have classes for the caregivers. We have a stress busting class that will actually be starting in April. And it’s a nine week class,” Mondragon said. If you would like to learn more, visit our blog: https://buff.ly/46ynZwr #estateplanning #digitalassetprotection #highnetworth #estatetaxplanning #charitableplanning #businessplanning #lastwillandtestament #executor #TrustPlanning #assetprotection #blendedfamilies #estateplanningforminorchildren #probate #estateadministration #trusts #specialneedsplanning #specialneedstrusts #powerofattorney
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Is a significant portion of your wealth in retirement funds such as IRAs, 401ks, TSPs, 403bs? Do you want to prevent your children from withdrawing your entire retirement fund balance in a lump sum? If your children are responsible and financially mature, this may not be a concern of yours. However if this is a concern, then you’ll want to ensure the longest possible stretch period for the withdrawal of retirement funds. In other words, the IRA wants to see the retirement funds paid out more and faster, while taxpayers want to see them paid out as little as required and over the longest possible period. This can be one of the most complex areas of tax planning, so it’s important to consult with an attorney to help you plan appropriately for your unique needs. https://buff.ly/48CWqT7 #EstatePlanning #TaxPlanning #IRAs #StretchIRA #estateplanningattorney
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4 Key Estate Planning Steps for High-Net-Worth Individuals 1. Consult a High-Net-Worth Planning Lawyer: Work with a seasoned attorney in Summerlin who understands the complexities of high-net-worth estate planning. 2. Review Your Assets: Assess all your holdings, from real estate to investments, and decide how you want them distributed. 3. Set Clear Goals: Determine who will inherit your wealth and how they will receive it. Consider charitable giving, trust structures, and other tools to meet your goals. 4. Update Regularly: Estate planning isn’t a one-time task. Review and update your plan regularly, especially when life changes like marriages, births, or new financial ventures occur. Schedule a call with an estate planning attorney today: https://buff.ly/48CWqT7 #estateplanning #digitalassetprotection #highnetworth
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By far the simplest way to distribute inheritance is outright, directly into the name, hands and social security number of your intended recipient. With this method, once the estate is closed, it’s theirs, for better or worse. For extremely simple circumstances, this may be an appropriate approach, especially if the recipients are responsible, financially mature and the risk of squandering, divorces, lawsuits, and bankruptcies is low. Wondering if this approach is the right one for you? We can help you assess! https://buff.ly/48CWqT7 #EstatePlanning #EstatePlanningAttorney #Inheritance #FamilySecurity
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FAQ: What is the unlimited marital deduction? The federal government allows every married individual to give an unlimited amount of assets either by gift or bequest, to his or her spouse without the imposition of any federal gift or estate taxes. In effect, the unlimited marital deduction allows married couples to delay the payment of estate taxes at the passing of the first spouse because at the death of the surviving spouse, all assets in the estate over the applicable exclusion amount ($5,120,000 ) will be included in the survivor’s taxable estate. It is important to keep in mind that the unlimited marital deduction is only available to surviving spouses who are United States citizens. Find more answers to frequently asked questions about estate taxes here: https://buff.ly/47OUNCP #EstatePlanning #estatetaxes #unlimitedmaritialdeduction
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Estate planning is essential for anyone in Summerlin looking to pass down wealth, particularly for those with substantial assets. Without a comprehensive plan, your estate could be vulnerable to legal disputes, heavy taxation, and other complications. Proper estate planning provides peace of mind by clarifying your wishes and protecting your legacy for generations to come. In Summerlin, where many residents fall into the high-net-worth category, ensuring that your estate plan is aligned with state laws and reflects your personal goals is vital. By working with a skilled high-net-worth planning lawyer at Stone Bybee & Associates, you can ensure that your estate is transferred seamlessly and your family’s future is safeguarded. Read more in blog: https://buff.ly/4drl3nR #EstatePlanning #estateplanningattorney #wealthtransfer #greatwealthtransfer
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Failing to transfer assets into your revocable living trust means those assets will not be managed by the trust and may still go through probate. To fully benefit from your trust, ensure you transfer ownership of your assets to it. Proper funding is crucial for a smooth estate planning process. For guidance on how to fund your trust, contact us today. info@nvestateplan.com #EstatePlanning #trustlawyer #trustlawyer #revocabletrusts
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Estate Planning Essentials Wills and trusts form the core of an estate plan, ensuring your assets are passed to beneficiaries and taxes are minimized. While wills require probate, trusts distribute assets directly according to their terms. Combining life insurance policies with wills and trusts can help balance inheritances and provide equal shares for heirs. Ready to dive into the details of estate planning essentials? Schedule a call: https://buff.ly/48CWqT7 #EstatePlanning #Wills #Trusts #estateplanningattorney
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A solid succession plan ensures that a family business continues to thrive after the founders retire or pass away. It’s best to start planning once the business is stable, rather than waiting until retirement. Key questions to address include how the business will fund the founder's retirement and the role of family members. Begin your succession planning early to secure your business' future. https://buff.ly/48CWqT7 #BusinessSuccession #FamilyBusiness #EstatePlanning #businessplanning #businessstrategies
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A revocable living trust does not protect your assets from creditors. Since you maintain control over the trust, creditors can still access the assets to satisfy debts. For strategies on protecting your assets, consult with an experienced estate planning attorney. https://buff.ly/48CWqT7 #revocablelivingtrusts #EstatePlanning #creditorprotection #estateplanningattorney
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