Author Archives: Andre O. McDonald
Inheritance and Medicaid: Be Careful, Plan Ahead
Mistakes can be made when it comes to inheritance and Medicaid. Those mistakes can be costly. When a person is receiving Medicaid benefits and inherits money or property, that inheritance jeopardizes the benefits. The inheritance must be handled carefully to minimize expensive penalties. What “careful” means, though, can be misunderstood without the necessary expertise…. Read More »
7 Ways to Avoid Family Fights Over Property
Ask a group of friends if they have experienced family fights over property after a loved one has died, and you will be in for a lively and eye-opening conversation. Far too many families end up fighting, or at least experiencing tension, over a family inheritance. But it does not have to be that… Read More »
Designating Beneficiaries: 8 Pitfalls You May Not Know About
You might think that leaving your property to your heirs would be simple enough. You make a will or a trust, you do a transfer-on-death deed for your real estate, you put your kids on your bank account, you designate beneficiaries for your life insurance and retirement accounts, and you’re done. If only things… Read More »
How to Avoid a Frozen Bank Account After the Death of a Loved One
The death of a loved one is one of the most difficult times in a person’s life. Nothing can truly prepare a person for such a loss. However, dealing with the financial stress of frozen bank accounts can exacerbate the stress. Without proper planning, your significant other could struggle to gain access to your… Read More »
A Will Does Much More Than Transfer Your Assets
Caring.com annual estate planning survey for 2019 found that 57% of U.S. adults do not have a Last Will & Testament (a “Will”). The survey found that participants were more likely or less likely to have a Will depending on issues such as age, race, and education. For example, when broken down generationally, 66% of people… Read More »
Help! I’ve Been Named as a Guardian. What Do I Do?
A guardian is an individual who cares for someone who needs special protection. Adults can nominate a guardian in his or her Will. Likewise, parents can also nominate a guardian in their Will, but a court must confirm and officially appoint the guardian. Sometimes the need for guardianship arises when the parents are still… Read More »
The Danger of Adding Your Kids to Your Bank Accounts
I want to leave my bank accounts to my children when I’m gone. Can’t I just make the children joint owners? That idea sounds better than it actually is. Yes, the bank accounts would avoid probate proceedings when you pass. But by adding kids to your bank accounts, you’d put yourself at risk at… Read More »
Does the Probate Attorney Represent the Personal Representative or the Estate Heirs?
Whether you are the Personal Representative or an heir of the probate estate, knowing the role of a probate attorney is one of the first steps you should take at the beginning of the probate process. One of the biggest sources of conflict in probating the estate is understanding who the probate attorney hired… Read More »
Legal Planning for Alzheimer’s Disease
There is currently no cure for the more than 5 million Americans who have Alzheimer’s disease. Projections by the Alzheimer’s Association (alz.org) are that by 2050 more than 14 million Americans will suffer from this disease. What can you do if you are medically diagnosed with Alzheimer’s? Aside from following the advice of your… Read More »
Alzheimer’s Disease 2020 Facts and Statistics
There are over 400 types of dementia. While that number is staggering, the most common cause of dementia is due to Alzheimer’s disease, according to the 2020 Facts and Figures report published by the Alzheimer’s Association (alz.org). Other better-known types of dementia include vascular, Lewy Body disease, frontotemporal dementia, and early-onset dementia. As of this… Read More »
