Category Estate Planning
In some cases, individuals with special needs can qualify for public benefits like social security benefits. Usually, this requires meeting certain income or asset criteria be met. Individuals with disabilities can use ABLE accounts to save money and pay for quality of life expenses that will not count against the income or asset criteria. In
In 2015, Louisiana passed the ABLE Act, which authorizes individuals with special needs and their families to save money for special needs based expenses in a tax-free account. In short, it creates a low cost alternative to a special needs trust to protect the finances and improve the quality of life for individuals with special needs. Under
A Military Advanced Medical Directive is a life planning document for individuals in the active military. In short, it is a living will that because of Federal Law can be used in any state. It allows a military member to express their wishes and desires if it is determined that their death will occur whether or not life-sustaining
Everyone knows that they should have a will. This is correct, but incomplete. What everyone truly needs is a proper estate plan to cover three scenarios adults commonly encounter: 1) you become unable to care for your finance, 2) you become unable to make medical decisions, and 3) you die. Although there are many ways
What are Government Disability Benefits? The United States Social Security Administration manages two types of disability benefits offered by the Federal Government: Supplemental Security Income (SSI) and Social Security Disability Insurance Program (SSDI). The SSI program provides cash payments to individuals who are elderly, blind or disabled and who have limited income and resources. In
In Louisiana, if a person dies without a will, they are considered to have died intestate. During an intestate succession, the decedent’s property is distributed in order as follows: All of the decedent’s property goes to her children. If the decedent does not have any children, then her property would go to her siblings,
In Louisiana, if a person dies without a will, they die intestate, and the distribution of his/her assets at the time of death are determined by law. If you believe the decedent died with a will, but you just cannot immediately locate the will, you should: 1) Inspect the residence of the decedent. Although it
On January 1, 2013, the U.S. Congress passed the American Taxpayer Relief Act (“ATRA”). The ATRA provides at least one potential strategy to avoid the income taxes normally associated with Required Minimum Distributions (“RMD”). What is a Required Minimum Distribution or RMD? The year after a person reaches the age of 70 1/2, the individual
Generally, when a parent dies, the surviving parent becomes the natural tutor of the children. When both parents die, things become more complicated. Parents can specify in their wills as to whom they would like to be appointed as the tutor of their children. In the absence of a will, the court will appoint a
Today, more than any other generation, people find that they have to care for their aging parents or siblings. In some cases, the aging or disabled adults require assistance and help with taking care of medical, personal or financial decisions. As long as the individual is competent, he or she may determine the person or
Answers to Frequently Asked Questions About Living Wills