Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys Theresa (Terri) Marie Schindler was born on December 3, 1963, to Mary and Robert Schindler. Terri grew up in Pennsylvania, and by all accounts had a normal, happy childhood. After graduating from high school, Terri enrolled in Bucks County Community College where she met Michael Schiavo in 1982. Two years later, on November 10, 1984, the two were married. When Terri’s parents moved to Florida in 1986, … [Read more...] about The Importance of Advanced Directives – The Terri Schiavo Story

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys A comprehensive estate plan should accomplish a number of estate planning goals and take into account various estate planning objectives. For example, planning for the possibility you will one day need to pay for long-term care (LTC), referred to as “Medicaid planning,” is a common estate planning goal. The overall objective of Medicaid planning is to reduce your “countable resources” so you will be … [Read more...] about The Role of Compensation in Estate and Medicaid Planning

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys As the average life expectancy in America continues to increase, we can all anticipate living much longer than even our grandparents did. Living longer, however, also increases the odds that long-term care (LTC) will be needed at some point in your life. The cost of that care could threaten your retirement nest egg, as well as the family assets you hoped to pass down to future generations. Medi-Cal can … [Read more...] about Protecting Your Assets from Medi-Cal Spend-Down Using a Special Trust

Compliments of Our Law Firm, Written By: The American Academy of Estate Planning Attorneys In the 21st century, most of the issues surrounding equality of the sexes have been resolved. Women are no longer relegated solely to the role of housewife and mother and the younger generations generally accept the idea of gender equality without giving it much thought. Equality, however, does not preclude differences. One area where it is important for women to recognize those differences is in the … [Read more...] about Women and Estate Planning – Debunking the Myths

Compliments of Our Law Firm Written By: The American Academy of Estate Planning Attorneys Even if you have never needed to rely on Medi-Cal before to help with your health care costs, the odds are good you will need to as a senior. Why? The answer can be found in the high cost of long-term care (LTC). At an average yearly cost of over $80,000 nationwide, and an average length of stay of 2.5 years, it should come as no surprise that over half of all seniors in need of LTC rely on Medi-Cal to … [Read more...] about Medi-Cal Asset Transfer Rules – When Gifting Can Cost You

Compliments of Our Law Firm Written By: The American Academy of Estate Planning Attorneys Are you curious what Jacqueline Kennedy Onassis, universally regarded as one of the world’s most private women, did with her fortune? What about Anna Nicole Smith, Paul Newman, or even Elvis Presley – are you interested in knowing how they distributed their fortunes? Surprisingly, it is relatively easy to find out their dispositive plans for their estates because each one used a Last Will and Testament in … [Read more...] about What’s the Big Deal about Probate Avoidance?

Compliments of Our Law Firm Written By: The American Academy of Estate Planning Attorneys If you have worked hard to acquire a decent asset portfolio, shouldn’t you work equally as hard to protect those assets from potential threats? Of course, the answer to that question is “yes.” The problem is that most people do not realize the numerous and varied ways in which their assets might be at risk. Now is the time to learn more about those threats and about the asset protection strategies that … [Read more...] about What You Need to Know about Asset Protection

Compliments of Our Law Firm Written By: The American Academy of Estate Planning Attorneys At some point during your retirement years, there is a good chance you will need the type of medical care that only a long-term care (LTC) facility can provide. The cost of that care may cause you to turn to the Medi-Cal program for assistance. If you fail to plan ahead by including Medi-Cal planning in your comprehensive estate plan, you may find it challenging to qualify given the extremely low asset … [Read more...] about How Will Life Insurance Policies Impact Medi-Cal Eligibility?

Compliments of Our Law Firm Written By: The American Academy of Estate Planning Attorneys The longer you live, the better the odds are you will one day need long-term care (LTC). For the average person, the cost of that care can be prohibitive. Moreover, you cannot count on Medicare nor your basic health insurance to cover costs associated with LTC. Instead, you may find yourself turning to Medi-Cal for help. If you manage to qualify for Medi-Cal without losing your hard-earned assets, you … [Read more...] about Medi-Cal Estate Recovery – Are Your Assets Safe?

If you are a member of the United States military, you likely have more important things on your mind than taxes and retirement planning. You should, however, take a moment to learn how your combat pay is treated by Uncle Sam to ensure you receive the benefits to which you are entitled for your service to your country. Military Compensation As a member of the military, your compensation is more complicated than the average civilian. The reason for this is that your pay is composed of several … [Read more...] about Combat Pay, Taxes, and Retirement – What Veterans Need to Know