A federal law passed in October 2017 is aimed at combating Elder Abuse through a more thorough understanding of the issue and prosecution of the perpetrators.
Signed into law on December 22, 2017, the Tax Cuts and Jobs Act of 2017 contained several provisions that affect the majority of Americans, especially seniors.
Today, it is possible to re-title the ownership of many assets by adding a beneficiary. When the asset is real property, for example your house, this occurs through the use of a life estate deed.
Elder abuse is defined as “any knowing, intentional, or negligent act by a caregiver to an elder person that causes personal, financial, or physical harm or serious risk of harm.”
An Advance Health Care Directive can be oral, but usually is a written legal document. It expresses a person’s wishes about what should be done if they later become incapable of making their own healthcare decisions.
This article specifically addresses the Pros and Cons of accounts that are titled ‘Joint Tenant with Rights of Survivorship’, (JTWROS). An account, titled in two or more persons’ names that have rights of survivorship, is jointly owned by those individuals.
There is a common misconception that all real and personal property will pass through an individual’s estate upon his or her death. Though, some assets avoid the probate process altogether depending on how the property is titled.
With no family to provide for, many singles may feel that having a plan isn’t a necessity. However, the truth is that estate planning for single individuals is just as important, and sometimes more complex, than planning for married couples.