Counsel & Advice From Top New Mexico Estate Planning & Elder Law Attorney
Estate planning services refer to the process of managing and distributing one’s assets and properties after their death, in a way that ensures the smooth transfer of wealth to the intended beneficiaries while minimizing taxes and other expenses. Estate planning services may include drafting legal documents such as wills, trusts, and powers of attorney, as well as providing guidance and advice on strategies for asset protection and wealth transfer. These services may be provided by lawyers, financial advisors, or other professionals with expertise in estate planning. Effective estate planning can help individuals achieve their long-term financial goals and provide peace of mind for themselves and their loved ones.
Nobody wants to think about how their loved ones will cope when they die. However, it’s important to plan effectively to ensure a smooth transition of your wealth and worldly possessions — even if you’re young or feel like you don’t have much to leave behind.
A frequent concern for those with aging loved ones is the future need for guardianship. Unfortunately, the concept of guardianship can be confusing and overwhelming.
Almost half a million new cases of Alzheimer’s disease will be diagnosed this year in the United States, according to the BrightFocus Foundation. Worldwide, someone develops some form of dementia every three seconds.
According to experts, despite increased phishing emails and robocalls, it is far more common for financial exploitation to be committed by people who know the victim, such as relatives, caregivers, neighbors, or ‘friends.’
The new Federal Estate tax limit (above which Federal estate taxes will be payable) is $11,200,000.00 per person. Yes, most of us will not hit that limit, but 19 of the 50 states, Illinois included, impose an estate tax of their own ranging from .25% to almost 20% of your estate.
As retirement nears, you may be wondering when to start taking Social Security payments. These benefits are primarily based on your earnings during your working years and your age when you start receiving benefits.
Does a person need a Power of Attorney document if that person already has a Last Will and Testament (‘Will’)? It is a good question.
Health insurance is seen as a huge hurdle for early retirees, but the answer to finding affordable coverage could be simpler than you think.
My mother told me many times over the years that she had a will, and I believed her. When she passed away, we discovered that her will was 40 years old—and completely useless.
A trust is an estate planning tool you may consider using if you want to go beyond drafting a last will and testament.
