For many of us, the pandemic and resultant lockdowns forced us to examine (or reexamine) our estate planning. What does this look like for you? What changes might you expect? Let’s take a look. Medical Decisions First, many of us have been forced to confront difficult...
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Estate Planning
Demands for Wills Surged During Pandemic
On Behalf of Simpson Law, PA | Mar 25, 2021 | Estate Planning
The COVID-19 pandemic triggered a rise in estate planning, and yet too many Americans still aren’t planning ahead. In the spring of 2020, news reports were rife with stories of advisors experiencing a surge in demand for wills and estate planning. Power of attorney...
When to Sell Your Parents’ Home
On Behalf of Simpson Law, PA | Mar 10, 2021 | Estate Planning
What are the tax consequences of selling the family home? When should you sell your parents’ or grandparents’ home? This is an enormous decision and may come with added stress, anxiety, and grief, especially if you or your parents have an emotional connection to the...
Looking Toward Potential Estate Planning Changes
On Behalf of Simpson Law, PA | Feb 19, 2021 | Estate Planning, Legislation
Tax changes are expected under the new administration. We don’t know how quickly President Biden will move to enact his tax proposals, or whether the Democrats’ thin margin in Congress will be a moderating force. Many analysts believe that economic recovery will be...
Home Healthcare Increase Potentially On the Way
On Behalf of Simpson Law, PA | Feb 4, 2021 | Elder Law, Estate Planning
There may be help on the way for seniors, particularly those who are interested in using, or are already using, home healthcare options. According to the Wall Street Journal, President Biden’s proposed infrastructure plan would set aside $400 billion to allow more...
Court OK’s Prenup-Turned-Post-nup
On Behalf of Simpson Law, PA | Jan 20, 2021 | Estate Planning
Prenuptial agreements are a useful way for a soon-to-be-married couple to protect assets they are bringing into a marriage. Essentially, these are contracts that lay out exactly what each spouse is entitled to (and obligated to do) in the event of a divorce. If you...
POLST and MOLST More Likely to Result in Correct Care
On Behalf of Simpson Law, PA | Dec 21, 2020 | Estate Planning
Documentation of your medical wishes is more likely to result in correct care, and this is true even for nursing home residents – or perhaps especially for nursing home residents, who may be unable to advocate for themselves or correct mistakes independently....
Diagnoses of Dementia and Alzheimer’s Rising
On Behalf of Simpson Law, PA | Dec 9, 2020 | Estate Planning
A study by Blue Cross Blue Shield published earlier this year found that the rates of diagnosis of early-onset dementia and Alzheimer’s disease has tripled over a five-year period, jumping by 200%. According to the Forbes article reporting on the study: “In 2017,...
When the Family Home Needs to Sell
On Behalf of Simpson Law, PA | Nov 22, 2020 | Estate Planning
When a parent enters into assisted living or a nursing home, their home is often sold in order to facilitate the new living arrangements. It an unfortunate reality, and has been for some time now, that elderly care such as assisted living, memory care, and nursing...
Don’t Forget to Fund Your Trust
On Behalf of Simpson Law, PA | Nov 2, 2020 | Estate Planning
Many people choose to create trusts as part of their estate plans, and there are many benefits to using a trust, such as increased privacy and more flexibility, as well as provisions in place for family members who have special needs or who need a spendthrift...
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