There’s a new type of retirement community that’s gaining popularity. It’s a cross between an independent living community, an assisted living facility, and a nursing home. Called a Continuous Care Retirement Community (CCRC), it’s designed to meet the needs of its residents during the full range of their retirement years. The typical CCRC is made up of modern-style apartments, condominiums and villas. Like an independent living community, it has amenities for its residents including pools, … [Read more...] about Continuous Care Retirement Communities: An Interesting Hybrid
BLOG
The Durable Power of Attorney: Just one Piece of the Puzzle
While the Durable Power of Attorney is important and serves several useful functions, it does have its drawbacks and should be used in conjunction with other documents as part of your comprehensive estate plan. Drawbacks of the Durable Power of Attorney include: Banks and other third parties are not required to recognize your Durable Power of Attorney. They’re allowed to have their own standards, requirements, and forms, and can reject your POA if they determine that it doesn’t measure … [Read more...] about The Durable Power of Attorney: Just one Piece of the Puzzle
How Often Should I Review My Estate Plan?
Some people look at estate planning as a one-time event: draw up the documents, get them signed, and lock them away in a safe deposit box. This doesn’t reflect reality, though. Our lives are always changing, and our estate plans need to be updated to reflect those changes. The needs and desires we had at thirty aren’t the same as those we’ll have at sixty. So, it’s necessary to have a strategy for reviewing and updating your estate plan. First, there are certain life events that should … [Read more...] about How Often Should I Review My Estate Plan?
Getting Ready for a Healthy Retirement
When you envision your life after retirement, what do you see? Most people want to live a healthy, active life and be able to enjoy all the activities they didn’t have time for during their working years. Unfortunately, with all the pressures and stress we face on a daily basis, many people find themselves entering retirement but not being healthy enough to enjoy it. Fortunately, there are some lifestyle changes you can make now that will help you retire in great physical condition, so that … [Read more...] about Getting Ready for a Healthy Retirement
Elder Law: What Are the Duties of a Guardian?
If you’ve been named guardian to someone who is mentally incapacitated, there are several things you are now responsible for. Here’s just a few of the tasks that a guardian is expected to oversee: Paying Bills and Tax Returns The guardian is responsible for taking of all personal bills and filing any tax returns that are due. This includes medical bills, credit card bills and of course, basics such as mortgage payments and utilities. "Taxes" includes both federal income tax returns as well as … [Read more...] about Elder Law: What Are the Duties of a Guardian?
Estate Planning 101 – Understanding Basic Terminology
Regardless of how simple or complex your estate might be, there are a few terms that you need to know in order to really understand how the estate planning process works. Here’s a few of the most common terms to get you started. Your Estate is an all-encompassing term that refers to everything you own – your real estate, your assets, personal belongings and even retirement plans and life insurance policies – as well as your debts. To “settle the estate” then, means that the debts are paid and … [Read more...] about Estate Planning 101 – Understanding Basic Terminology
What is Joint Property?
There are three basic ways that you can have an ownership interest in property: individually, jointly with another person, or through contract rights. Jointly owned property is property in which both you and another person share an ownership interest. If property is jointly owned, then when one of the owners passes away, the property goes to the other owner, without the need for probate. Examples of joint property include joint bank accounts and real estate held as joint tenants with rights of … [Read more...] about What is Joint Property?
Welcome to the Blog of The Law Offices of Saul Kobrick, P.C.
New blog posts coming soon! … [Read more...] about Welcome to the Blog of The Law Offices of Saul Kobrick, P.C.
