On March 25, 2023, Hickman Lowder Attorneys Elena A. Lidrbauch and Helen L. Rapp hosted the webinar, Estate Planning and Special Needs Trusts. They discussed general planning considerations and legal documents that are frequently used by families, including different...
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Estate Planning
Revocable Trust or Irrevocable Trust: What is the Best Option for Me?
Trusts are great tools for you to pass assets to your heirs, whether that be to children, other family members, or charities. However, not all trusts are created equally. Sometimes, we use revocable trusts for one client, while another client established an irrevocable trust. When does it make sense to use a revocable trust compared to an irrevocable trust? A…
It’s About You – Special Needs Trusts
Attorney Ethan Welch spoke with Channel 3’s Joe Cronauer about special needs trusts and how you can use the funds from those trusts.
Avoiding Probate Court
Most people want to avoid probate court at death, and for good reason. Probate court takes a lot of time, attorney fees and court costs are high, and the proceedings are public record. When is probate court necessary and how can you avoid it? Probate court is necessary when there are probate assets, which means if you do not have…
Attorney Ethan Welch’s Estate Planning Article is Featured in The Morning Journal’s Senior Living Edition
Attorney Ethan Welch had his blog Should I Share My Estate Planning Information with My Family featured in the Senior Living tab for The Morning Journal’s July Edition. Ethan states “there is no right or wrong answer when it comes to sharing estate plan information, and some approaches may work better than others”.
Generational Differences Call for Differences in Estate Planning
Whether you’re in your 40’s or your 80’s, it’s never too early or late to start thinking about creating an estate plan, and different generations can have specific ideas and approaches when it comes to their estate planning. Baby Boomers, those born generally between 1946 and 1964, are often characterized as having a strong work ethic and whose identities are…
Paying For Long-Term Care
Long-term care is not just nursing home care, like many of us think. I often speak about the “Elder Care Continuum”, which describes what many of us and our loved ones will or are experiencing as we age or face health challenges. In the beginning you may have little to no real limitations, reside in your home with no cost…
Should I Share My Estate Planning Information with My Family?
When establishing your estate plan, you generally review your assets with an attorney. This ensures you create a plan according to your wishes. Your attorney will review things like beneficiary designations to determine those designations follow your requests and provide advice on the estate plan most appropriate for your assets. The question that then arises is should I share this…
Thoughtful Estate Planning Brings Protection and Peace of Mind
Estate planning begins with an exercise of the mind – an uncomfortable internal question and answer session. What happens to my assets when I die? Who will manage my money if I’m in the hospital or a nursing home? For many, answering these questions is difficult and uncomfortable. Sometimes people don’t have relatives to leave their assets with or to…
Estate Planning Misconceptions
Many people are under the misconception that “estate planning” is primarily drafting a last will and testament; however, it’s much more than that. As part of estate planning, you’ll consider durable general (financial) powers of attorney, health care powers of attorney, living wills, guardianships and more. Estate planning is more than planning for your death; it is also planning for…