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.
Every estate plan should include three essential documents: a durable general power of attorney, a healthcare power of attorney and a last will and testament. Of the three essential estate planning documents, the will is the only document that is used after death.
Several types of special income trusts and other strategies can be helpful when trying to protect your family’s assets from the devastating costs of long-term care.
Here’s what you need to consider, when looking to hire an elder law attorney.
Over 50% of our adult population (120 million adults) neither have nor realize the significance of having an up-to-date estate plan to protect themselves and their family’s assets. Mountain Times’ recent article entitled “Do you need an estate plan?” explains that estate and gift planning is a process that can protect you and your family.…
The majority of older adults (79%) responding to Genworth’s Caregiving in COVID-19 Beyond Dollars Study 2021 said they preferred to receive care in their homes, but only 42% actually received assistance at home.
As a legal adult after attaining the age of 18, your child should have in place several legal documents that will allow you to provide support and obtain information, if something unexpected happens to your child.
Even those who have saved and invested well may not be sharing their financial information with a spouse or loved one. It’s time to do that now.
A recipient of a gift does not pay income taxes on the gift. However, the gift-giver may pay gift taxes, unless one of two exemptions applies.
Have you thought about how you’d like your family to continue after you’re gone? Having an estate plan isn’t just for the ultra-wealthy.
While we are alive, we can clearly make our own decisions. Unfortunately, one day you may find yourself in a situation where you cannot make your own decisions. Such situations occur most often in accidents, illnesses (physical or mental) and simple aging situations.
