Tag: Legacy Estate Planning

With multi-generational housing on the rise – aging parents moving in with their adult children — this segment looks at the complex issue from the child's point of view. Elder law attorney Andrea Lee from Legacy Estate Planning joins Suzanne Newman on the Answers for Elders podcast to talk about expectations and approaches.

Since COVID, there has been a 40% increase in multi-generational housing: either senior parent or parents have moved in with their children, or kids who can’t afford to live on their own have moved back home again. For an aging parent, they wonder: should I sell my house? Should I invest money in my son or daughter's home? Should I move in with them? What does that mean for my overall estate plan, my assets? How does that affect the other heirs if I have other children? Elder law attorney Andrea Lee from Legacy Estate Planning joins Suzanne Newman on the Answers for Elders podcast to talk about this complex issue.

If you're single, it's much harder to plan financially in advance for retirement, as there are more options available for married couples. To alleviate worries about finances and aging, or the possibility of an unhealthy retirement where you might face a chronic illness, you may want to research alternative living facilities on your own ahead of time, or prepare irrevocable trusts to preserve assets. Elder law attorney Andrea Lee from Legacy Estate Planning joins Suzanne Newman on the Answers for Elders podcast to talk about various ways single folks can protect their assets for retirement and beyond.

A lot of people choose not to get married. They cohabitate, they mix assets, they'll buy a home, and some even have retirement plans. There are many legal protections for married couples, but some of those protections don't extend to individuals who live together, such as Social Security, Medicare, Medicaid benefits. If an unmarried couple decides to live together, they ought to discuss how to protect each other, and consider how do you protect yourself if you choose to live with a partner. Elder law attorney Andrea Lee from Legacy Estate Planning joins Suzanne to talk about protections and estate planning for unmarried couples.

Elder law attorney Andrea Lee from Legacy Estate Planning joins Suzanne to talk more about special needs trusts, comparing first party special needs trusts and third party special needs trusts.

So many of us have a loved one that may have special needs, a disability. Maybe a spouse has just been diagnosed with dementia and needs care, and they're afraid of losing their house or their money. If you're in that situation, or maybe your parents are, or a child that has special needs, this episode will be important. Elder law attorney Andrea Lee from Legacy Estate Planning joins Suzanne to talk about special needs trusts and how people can protect their own resources.

People sometimes put their estate documents in a file and forget about them. Elder law attorney Steve Waltar joins Suzanne to talk how to keep your estate plan documents current.

How do you make updates to your estate plan? Elder law attorney Steve Waltar joins Suzanne to talk about dos and don'ts. In particular, he explains that a power of attorney is not a commodity. They're all radically different.

With a new year arriving, it's time to consider reviewing and updating legal documents. Elder law attorney Steve Waltar joins Suzanne to talk about when to update estate plans.

Elder law attorney Steve Waltar joins Suzanne to talk about the Corporate Transparency Act, a new federal law made to thwart money laundering, but has overreaching implications for owners of new and existing small businesses and their legal agents across America.