How Do I Know When to Invoke A POA?

A power of attorney is an authority given to another person to act on behalf of an individual usually called a principal. The agreement is made into a legal document guiding the relationship between the attorney and the principal. There are four types namely: general power of attorney; durable power of attorney; special or limited power of attorney; and springing durable power of attorney.

There are many situations in which given out this authority may be advisable and necessary, for example, this power might be given out about property management and financial affairs, it may be given when one needs to collect benefits or when one desires to sell a home. In these situations, authority can be given to another person to sign a contract on behalf of a principal. There are some decisions in which this power can be delegated to another such as making health care decision.
Before this authority can be given to another, the principal must make sure that he understands the information contained in the document and that it conforms to that state’s requirements. He must be able to evaluate the information in the document and must be mentally fit to do such. Also, the principal must be able to communicate his intents clearly and effectively. To obtain the power of attorney is easy if some precise steps are taken. One of such steps is checking the state's requirements to make sure one is on the right track. One needs to fill relevant forms and makes sure that the document is clear enough for all signatories.

The preceding paragraph must deal with the legal capacities of the principal. This is the ability of a person to arrive at decisions that are legally valid. This ability will guarantee his fitness to enter into a binding contractual agreement with other people. It also consists of the ability to choose who he will give the authority to. Legal capacity will enable the principal to make his intents clear to avoid misrepresentation.

This power can be revoked when the principal decides to do so. However, the process of revocation must be made explicit to all parties involved. The most important step in this process is to be sure of state's requirements so as not to contravene laid down rules and regulations governing such procedure. All institutions involved in this process of revocation must be duly informed for necessary actions. In case of legal capacity issues such as when the principal becomes incapacitated or when he can no longer make decisions for himself because of mental depreciation or disability the family members can approach the court for revocation of the power of attorney. Also, this power can be revoked when one is no longer satisfied with the services being rendered by the attorney. It can also be revoked when there is a case of exploitation and abuse on the part of the attorney. Revocation can also occur when the attorney misuse his power.

Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols, call 734.386.0224 today.

The Most Important Reasons for Estate Planning

No one wants to think about what is going to happen after they pass away while they are still living, however, there really is not any better time like the present. Most the important decision you need to make are designed to make things easier for your loved ones after you have passed away and you cannot make the necessary decisions. It is really imported to discuss estate planning.

The key to estate planning is that it has to be done while you still have the control of your faculties for an attorney to be able to prepare all of the proper paperwork. Your attorney should be able to go over everything that you need to be sure that you have gotten everything important.

10 Important reasons for doing estate planning

Peace of Mind - The biggest reason is to give everyone the peace of mind knowing things are all taken care of ahead of time.

Specify who is to receive which assets after your death - In order to prevent any fighting or hurt feelings it is very important that you assign assets to everyone that will be mentioned in the will. Once the document is enforced it can only be undone by the owner of the will.

Helps to avoid probate headaches - If there was no will or trust everything would go in the court system and that is what is referred to as probate court.

State who is to be the guardian of any minor children - When you have minor children you have to consider who you will want to take care of them in the event that you were to die.

Name the executor - The executor is the most important decision besides who will be taking care of the kids. The executor will be responsible for making sure that all of the parts of the trust is carried out.

Establish a Power of Attorney for financial decisions - The power of attorney for making financial decisions needs to be settled in order to be able to pay any bills for care if you become incapacitated.

Establish a Power of attorney for healthcare - Like power of attorney for financial reasons, you also need to do something about your medical conditions before you become incapacitated.

Execute a revocable trust - Avoid any problems with a will but setting up a revocable trust is far better received in my opinion.

Restrict minor children's access to inheritance - To help protect your kids and keep them from spending any of the money they have been for their inheritance. The usual time frame is 25-30 years old.

Be sure to shield the inheritance from tax concerns, divorce issues and creditors - Having a trust in place will help to protect the assets from taxes, divorce a decree.

Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols, call 734.386.0224 today.

The Importance of Hiring an Attorney When Creating an Estate Plan

When creating an estate plan, it is better to hire a professional than attempt to DIY. Although many people think they can write their own wills, the truth is, they’ll most likely leave our vital information, this voiding that which would have been useful when they’re gone. Enlisting the help of estate planning lawyers ensures that everything you leave regarding your estate when your gone will be handed in a professional manner. An estate planning lawyer knows what needs to be added in an estate plan and although you might YouTube how to do it on your own, this doesn’t mean you should or that it will stand up if contested. Here are some reasons why estate planning lawyers are better options for you will:

Estate Planning Is Complex

Even though you might Google how to do it on your own, the truth is that creating an estate plan is more complicated than you think. You need the right words, sentences and more, but in order for it to hold up solid in court it needs to follow certain laws, regulations, and guidelines. The law is always changing. You might miss some very important aspects that need to be included if you don’t know what they are. Estate planning lawyers are always kept up to date in regard to federal, state and local laws.

More Goes into Creating an Estate Plan Than Just a Will

An estate plan isn’t just a will. A will is just one document that goes into an estate plan and you might not know what the other documents that are needed are. In reality, there are a variety of different estate planning documents you’ll need to ensure your estate is handled properly after you’re gone.

Save Time

Writing an estate plan can really take a lot of time to make sure everything is correct and covered. Instead of doing it yourself, let that responsibility fall on a professional who knows what they’re doing and can do it faster than you ever could!

Third-Party Perspective

Estate planning will be objective when it comes your estate planning needs when a lawyer is allowed to assist. Thus, allowing you better insight and advice that will only benefit the estate in the end.
Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols, call 734.386.0224 today.

What Happens If You Pass Away Without A Plan in Place?

No one likes to consider their mortality which often leads to the issue of individuals passing away without putting into place an estate plan, will, trust, or other legal documentation to distribute their assets.  Many times, people assume that they are too young to need an estate plan in place, that their assets are not worth the creation of a plan, or that getting this documentation in place is expensive.  These assumptions are in fact not true.  Obviously, the best time to document a plan to follow upon your death is far before the need to use it arises.  These plans encompass far more than just distributing your assets and tax avoidance.

Estate plans are put in place not only to be your voice upon your passing but also so that if you become incapacitated and are no longer able to make decisions for yourself that you can appoint someone to make decisions on your behalf.  If you have not appointed an individual to make choices on your behalf, then the state will step in.  If this occurs, your desires are left unknown and the state will step in to take over the process which is known as intestacy.

Intestacy rules vary from state to state.  In general, however, the distribution of assets by intestacy requires a probate proceeding.  Most families hope to avoid probate when a family member passes as it is costly, time consuming, and open to the public.  It is also frowned upon as there is no way for the state to know what your desires would have been so your assets are distributed as they see fit.
If you do not have proper documentation in place and become incapacitated a judge will decide for you who will be in charge of you and your assets.  This process is known as guardianship and conservatorship.  It can be quite an expensive for your family even if there isn’t a disagreement on your care or asset distribution.  It can often cost more than what would have been paid to have in place a proper estate plan.

In order to avoid this situation, it is crucial to take the appropriate steps which can include an all-inclusive estate plan with a living trust and power of attorney in place.  This ensures that if you become disabled or pass away the division of your assets along with your desired wished-for care are known by your family and easily executed without burdening your family.

Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols, call 734.386.0224 today.

5 Essential Estate Planning Tips

Many individuals think that estate planning is only for the elderly; something to consider only after you have hit the golden years of retirement.  However, the truth of the matter is that an estate plan is something that should be in place no matter what stage of life you are in. It doesn’t matter if you’re in your 20s, 30s or even 60s; you should plan out your estate just in case an emergency happens. There are more things to estate planning than just a will such as trusts, health care directives, and power of attorney. These legal documents will ensure that your wishes are known at the end of your life through your passing. Here are some very basic tips on estate planning:

1. Living Wills

Life is uncertain, so if you aren’t capable of making decisions for yourself, a living will is a must. It’s a legal document that sets forth what you want in the event that you are in a coma or vegetative state. It will detail instructions and decisions for yourself when you are still alive. For reasons of legitimacy it is important to have an attorney assist in drawing up a living will for you.  This will help to ensure that your desires are followed.

2. Draw Up a Will or Trust

Besides a living will, you should also create a will, trust or both.  These are documents that sets out your wishes after you die for your family and loved ones. This details everything from personal items to financial assets and what you’d like to do with them.  An estate planning attorney should be hired to help minimize tax liabilities to your heirs upon your passing.  A will is a complex document that spells out in detail what your desires are.  It should be updated throughout the year as major life changes occur that need to be taken into account.

3. Appoint a Power of Attorney (POA)

If anything happens to you, it’s important to have someone you trust make decisions for you they will be the power of attorney over your estate. This person will distribute your assets as you have stated within your estate plan.  A medical power of attorney is an individual that you have appointed to make decisions regarding your medical care.   You can have one person for both positions or split the duties between two people that you know will make sure your wishes are met.

4. Designate Guardians

If you have kids under 18 years old, then you’ll have to figure out who will take care of them when you no longer can. If your spouse or partner is still alive, guardianship will automatically go to them.  Before you make the decision, you should ask whoever you are thinking about making a guardian to see how they feel about such a responsibility. If they do not want this responsibility it is in your children’s best interest to make alternative arrangements.

The best advice that you can be given regrading your estate is to meet with an attorney that will serve as a personal representative of your legal desires.  Creating an estate plan is simple with the right guidance and with regular maintenance will stay current to ensure your loved ones are not burdened by probate upon your passing.

Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols, call 734.386.0224 today.

Blended Family Estate Planning

We have all seen blended families portrayed on TV.  They are always depicted by happy, wholesome family members that love each other to the depths of their hearts.  In reality however, this is not always true. The love factor may always resonate but elements can fade when it comes to the passing of a loved one and their estate.  Often time’s things get messy.
In order to skip that mess and to have a better plan, it is important to hire an estate planning attorney whose firm specializes in family law who will help you create a plan to prevent any uneasiness between family members upon your passing.  However, before you do that, you should really consider your future. In doing so, you should alleviate any guess work and but incorporate all the metrics which can give you a real insight into what lies ahead. Also, it can be said that the future of your blended family depends upon who owns the estate, how many members have a right to it, and are there any preliminary steps already taken by the estate owner.
There are three basic considerations to think about when you are estate planning.

1) Trusts

Trusts are established in order to ensure a healthy distribution of the assets of a remarried couple. There are many types of trusts, the QIPT, Marital, and Bypass trusts. However, choosing the right trust depends upon the financial status of the real estate.
It should also be noted that whatever trust you are establishing, you should always consider placing your children as the intermediate beneficiaries. By doing this, you conserve their rights as on your death they will be paid some amount.
On the other hand, if you name surviving spouse as your successor trustee, then chances are that the differences between him or her and your children will pull the family in troubles in the future.

2) The Power of Wills and Attorneys

It doesn’t matter which kind of trust you establish. If you’re living will says something otherwise than what the trust says, then your will is the one that is going to be preferred. We recommend you set up a living will and also establish power of attorney not only for your medical decisions but also for the financial decisions when you are no longer able to take them yourself.
This practice can eliminate the confusion and the emotional stress that would prevail in your family upon your terminal ailment. Also, someone who is experienced and sound minded will help you indirectly steer things the way you want it to go.

3) Life Insurance Policies and Retirement Plans

Both of these require you to name beneficiaries for the assets that they bear. Upon your death, the beneficiary that you have named will be given all the assets. Thus, it is necessary for everyone to check the beneficiaries which they have named so that a minor or a former spouse is not listed.
Finding the right estate planning in a blended family can be a tough task because in such families the tendency of complexities is more. Thus, in order to get everything right, work with an elder law attorney that offers specialized services in family law.
Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols call 734.386.0224 today.

Don't Forget To Update Your Estate Plan in the New Year

Estate plans like everything else in life needs to be renewed on a yearly basis. The fact that you had it done at all does not mean you should lock it up in the safe to gather dust. Every day there are changes in your life from personal circumstances, finance, health, and business dealings of great importance. These changes inadvertently could make your last estate plan obsolete, and there is the need for new plans to prevent unforeseen crises from posing greater burdens to your family.
Your estate planning will improve on the last draft and take care of any infraction of the law in case there have been changes in the law upon which the old Wills was made. The following outline the reasons you need to update your estate plan in the New Year.

Changes in Tax Laws

The law of the land is what gives Wills its legal teeth. If your estate plans run contrary to provisions of the law, it may become a burden to your family after you are gone. Engaging in estate planning update helps to bring your current wills under the prevailing law.

Divorce and Marriage

The last estate plans you did, you were in a marriage, but you just divorced and to leave the Wills in favor of your ex-partner will cause problems for your survivors when you are gone. Updating it now will replace it with the right beneficiary.

Changes in the Size of Your Estate

We grow older every day; your asset may increase or reduce as the case may be. Whatever is the situation, estate planning will add the correct asset value in your estate to make life a peaceful one for your family after your departure.

Acquisition or Disposition of an Asset

When you change the physical structure of your asset whether by acquiring more assets or you dispose of some assets, it is expedient to update your estate so you can factor in the new reality into your Wills.
Change in trustee, guardians or personal representatives. Wills are drafted to settle our estate most amicably after we departed; at the time of the last draft, your baby had a Guardian whose name appeared in the Will, but that has changed to a new person. A new estate planning will take care of the changes in the name of the guardian or representative.

New Thinking

We all seem to get better with the passage of time; this may be enough reasons to have a rethinking on some issues which may necessitate a change in your estate document.

New Rules Surrounding POA Rules

Some financial and health institutions have laws that may cause them to refuse Power of attorney if its older than certain age (a year or two), updating your estate planning will make your current Wills fresh, new, and current to make your Wills acceptable.

A yearly update of your estate plans makes it current and agrees with your life at the moment. Your survivors will have no problem executing your wills after you are gone without constituting a burden to your loved ones.

Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols call 734.386.0224 today.

Functions and Duties of an Elder Law Attorney

Elder law attorneys and elder care attorneys deal with legal needs of the elderly – those typically above 65 years of age. Elder care attorneys also work on behalf of their disabled clients who are below 65 years of age and have similar long-term care needs to those of the elderly.

Duties of an Elder Care Attorney

One of the main functions of an elder care attorney is the provision of legal assistance in the case of will and estate planning of the elderly. The scope of elder law attorneys, however, extends to assisting the elderly with any legal issue they may have. These issues include:

• Living wills – An elder law attorney helps to draft a will and advise on estate planning that protects the interests of the elder and the family.
• Long-term care – An elder care attorney uses his experience and expertise to locate the right nursing home facility that will provide long-term quality care at an affordable cost that works for the elder and his family.

Nursing Home Care

An elder care attorney also keeps abreast with the deliverables promised by the nursing home and ensures that they carry out their obligations efficiently. Should the need arise; the elder care attorney defends the rights of the resident against neglect, negligence or improper treatment of the resident.

• Guardianship – An elder law attorney advises the elder on the prudence of enabling a family member or any other responsible person to make decisions on his behalf with regard to his health, finances and legal issues if he becomes incapacitated.
• Medicaid Eligibility – An elder care attorney advises on how to plan for long-term care while protecting your estate from being taken up with medical costs. The three main ways of paying for long-term care is either self-paying, long-term care insurance or Medicaid.

An elder care attorney helps to advice through the complicated web of Medicaid eligibility and by understanding the system guides the elder in a successful estate planning.

• Probate administration and representation – An elder law attorney facilitates arrangements of estate administration and representation early in advance for the benefit of the family. In the event that disputes do arise after the passing of the elder, the elder law attorney helps in resolution of these disputes including matters of a contested will.

Factors to consider when choosing an elder care attorney

• Expert and exclusive focus on elder law – Elder law can be very complex, detailed and ever-changing and the ideal elder care attorney is one who is intimately familiar with it and practices it regularly and seriously.
• Experience – Long-term expertise and experience are the cornerstone of a successful elder care attorney who is able to handle each client’s case in an individualized and experienced manner.
• Active and Good Listener – The ideal elder law attorney is one who takes the time to understand the client’s needs and specifications and is attentive to listen and care about your welfare and working together with you to craft the best solution.

Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols call 734.386.0224 today.

Elder Law: Helping Seniors Plan For Their Future

One of the best things about U.S. law is that there are so many different areas of it that cover all aspects of life. Among the many different areas of law that attorneys can specialize in, elder law is just one. Elder law comprises of helping aged people plan for their future and for what happens after they pass away. While it's not a subject that people enjoy talking about, it's a necessity for all seniors. Attorneys who practice elder law can help elderly people with all aspects of their current life and assets.
Many different issues fall under the elder law heading, but some of the most common are outlined here.

1. Estate Planning

It's crucial that a properly executed will is prepared for you to make sure your estate is adequately handled after your death. Meeting with estate lawyers to discuss your heirs and last wishes are crucial if you have an estate of any size. A will that clearly and concisely states who will inherit what and how your estate is to be distributed can prevent your heirs from squabbling about your estate after you've passed away.

2. Protecting Seniors from Abuse

This is one of the most distressing examples of why you may want to consult an attorney specializing in concerns of the elderly. If you have an aged parent who is in a nursing home, receiving skilled nursing care, or being cared for by someone else and you suspect that your parent is being neglected or abused, you must consult with a litigation attorney as soon as possible who specializes in cases of elder abuse. They can give you the guidance and support you need while investigating and filing suit against the abuser or abusers.

3. Conservatorships

It may be necessary to establish a conservatorship over an elder's estate when proper estate planning documents have not been put into place. To make financial decisions essential and healthcare for an elder court intervention is sought to grant someone the authority.

4. Help with Financial Planning

Are you planning to retire? Then an elder law specialist can help you develop a stable, long-term financial plan that will protect your finances while allowing you to live comfortably in your golden years. Estate lawyers can also help you choose an appropriate nursing home or assisted living facility when the time comes and oversee your finances to make sure your bills are paid, and your property is handled correctly.

5. Social Security Disputes

Social security is a financial safety net for many seniors after retirement. Depending on the monthly checks you receive from social security can be difficult, particularly if you don't feel you're receiving appropriate benefits. If you have a dispute over your social security payments, an elder law litigation attorney can represent you and protect your interests, helping you get the social security benefits you deserve.

An elder law attorney can be an excellent partner for you as you plan out the legal and financial aspects of the next stage of your life or the life of a loved one.
Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols call 734.386.0224 today.

The Importance of Estate Planning

The purpose of estate planning is to help you achieve your personal and family goals after you pass away. It ensures that your assets will end up in the hands of those people whom you wish them to go to so that you can reach your personal and financial goals even after you die. You also can reduce the amount of taxes paid by planning your estate in the right way to ensure that your heirs receive a more substantial inheritance.

Estate Planning Attorney

Know this; your state treasurer or an attorney may be the most significant beneficiaries when you pass on if you don't have an estate plan. Your family will be able to avoid unnecessary taxation and high payments to an attorney with estate planning and trusts. Proper estate planning by a probate lawyer doesn't have to cost a fortune, and it puts you in control of the division of assets. It gives you control from the grave on the disposition of your items besides saving dollars that you want to go to your family.
The saying that the only two sure things in life are death and taxes has existed for centuries. Death is certainty and something that must be faced, but people don’t like thinking about it. A plan for your estate consists of a set of documents that help you plan for taxes and death, and it is something that nearly everyone needs -- regardless of their financial and familial affairs are complex or simple.

Do You Want Probate Courts To Decide For You?

Many of these are problems most of us never think of during our lifetimes or are things that we simply choose not to believe. But if there is no plan in place, these issues are handled by the courts. It is therefore essential to have a plan in place so that you can decide for yourself the best choices for your family, such as who will care for minor children, who will receive your property, and who will finalize your affairs.

Naming an Executor

You also name an executor or executrix for the estate in the will. This is the person in charge of distributing the property at your demise. It is best to name an alternate if the primary executor is unable to do the job. You can use a spouse for this or a trusted child. This person overlooks the work of the attorney at the time of your death and arranges for the distribution of your property. If you worry about finding you'll want someone else later, don't. You can change any part of your will at any time.
Estate planning can be a somewhat complicated matter, and it does require good judgment to ensure that you achieve the outcomes you desire. It gives you a choice while you are alive to determine who, what, when, where and how your estate will be handled. It also allows for substantial savings when dealing with tax issues, court costs, and attorney fees. Planning your estate also helps your loved ones avoid the burden of having to deal with bureaucracy and confusion after you pass away.
Planning an estate can be a bit overwhelming. However, a lawyer specializing in estate plans has the knowledge and experience necessary to guide you through the process while. When you have a good plan in place, you are given the peace of mind knowing that all of your affairs will be handled as you wish after you leave this earth.
Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols call 734.386.0224 today.

Legal Services for Family Issues

Different types of family issues can be handled with the help of professionals in legal practices. Legal professionals are needed for making wills and trusts in order to give property to legal owners. Trusts are made in order to handle all the finances in a professional manner. Wills are made by people at the time of death in order to distribute their property to their desired people.

• Many professionals in law are available in order to provide services for making wills and trusts to help users.
• With the help of professional assistance it is possible to get benefits in many ways and remain safe from legal complications.
• You can have your family law attorney who will work for you and deal with your family issues.
• All types of legal issues related with any family can be handled with care with the help of professionals.
• There are many legal complications which are involved at the time of distribution of property.
• If the family members are not able to settle the matters of property among them then they have to consult with legal professionals who will check the matters and get legal decisions.
• Those people who have property and money and who are willing to give them to a desired person at the time of their death must use wills.

They hire professionals in law who will draw up a will for them. This legal document is used after the death of the person. In this document all the details about distribution of property are mentioned to help in smooth working. All the heirs of deceased person are required to work as per instructions of will. Details are mentioned about the amount of property and money to be given after the death of owner of property.

Lawyers and attorneys are given wills to make sure that the details and instructions in the will are completed and followed. Many people like to make a trust so that they can give care and money to their desired people. Trust is handled by legal professionals as per instructions of makers of trust. A beneficiary is nominated in trust who will receive the benefits of trust.

There is a specific term for which trust will work and at the time of completion of that period the person nominated as beneficiary will receive the benefits. Trusts are working to make sure that the nominated people could receive benefits without problems. Mostly trusts are made for kids who are not mature enough to take care of themselves. A beneficiary is nominated who works to make sure that the rights of kids are completed till a specified time period.

On that time the rights of property are transferred to kids and they are able to use the property or other things in trust. These and many other family related matters are handled with care through professionals in law. Many people are using wills and trusts and using services of legal professionals. You can hire a family law attorney who will work for you and deal with all types of legal issues to make sure that you can get benefits.

Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols call 734.386.0224 today.

Estate Planning Legal Services

When it comes to estate planning there are a number of professionals that can provide you assistance but none as thorough as an attorney that specializes in estate planning, family law, and/or elder law.  It is important to have the help of a professional when looking into creating a plan for the future and creating an estate plan.  An estate plan will help ensure that your property is distributed properly to your family and friends upon your passing.

Estate planning was designed to cover a person’s whole life span in matters related to their life and death.

Facts Surrounding Estate Plans

• You can hire an attorney that specializes in estate planning to assist you in establishing a reliable plan of action for your estate. This is helpful in case of your untimely passing or if something should happen to incapacitate you.  It allows your wishes to be known and followed through on.
• Having an estate plan in place not only offers you as an individual protection but your family as well.
• Estate planning allows you to avoid probate court and give protection to your family members and friends.
• An estate plan allows you to keep your money and property while you are living and transfer it legally to family.
• Many different benefits are derived from creating an estate plan. One benefit that is important is that you can nominate a person who will use the property at your death so that the property and other important belongings can remain safe from unauthorized access.  It also allows your property to be transferred to the desired people.
• Often times an attorney specializing in estate plans in order to get the biggest benefits. Professionals can offer up a number of options for users to choose from when they are creating plans for their estate.

All of these options will help make reliable selections when creating a detailed estate plan.  With the help of an estate planning attorney you get legal protection for your money, property, and other important things. Detailed investigation and reporting will be done and legal steps will be followed to make sure that you are going to use the property and transfer it to your desired persons.

These types of plans are important as these help in legal transfer of property from one person to another. Property matters are complex and take a lot of time to settle. In case of estate plan it is possible to transfer the property to the legal owner at the death of original owner.

Estate plans are reliable and legal in order to help users to remain safe from problems in transfer of property. There are many types of problems in connection with transfer of property when the original owner is dead. Estate plan is giving details about the legal owner who will use the property after the death of original owner.

The original owner is able to transfer the property and other things to desired persons with the help of estate plan. If you want to use the property and transfer it to legal owners of your choice after your death then you must use estate plan. You can hire attorney specializing in estate plans in order to get these types of services.

Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols call 734.386.0224 today.

Top Four Benefits of Hiring an Estate Planning Attorney

Our thought process is something that we can control, aging however is not.  With aging comes the need to realize that life doesn’t go on forever and that it may end before you know it.  If you have had a beautiful life, lived in a lavish home and your family has a bright future ahead it is crucial that you have a plan in place for your passing.  You want to ensure that your family has an immediate plan for the future while ensuring your complete control over the plan until you are mentally unable to.

This is where hiring an estate planning attorney comes into the scenario to help manage all of the legal matters regarding your assets.  The process is one that takes time and is continually updated to include all of the changes in your life as they happen.  There are many complexities when it comes to passing on your estate.  It is beneficial to hire an attorney that specializes in estate planning, wills and trusts, and probate law to establish a plan of action for a time when you pass or are no longer able to make decisions on your own.

• Wills and Beneficiaries

It is a basic obligation to state your will before your death to avoid chaos in the case of an untimely death. How to legally handle the divisions and ensure that the plan laid out is followed is the task of your estate planning attorney, who will make it his/her primary objective to execute your will.

The beneficiaries you state and the decisions you make will not involve any personal opinion by your professional assistant, but the end result will be as pragmatic as possible under his/her watchful eye.

• Reduced Taxes and Probate

Someone who owns real estate that catches a lot of attention becomes the talk of the town where he/she resides in case any legal ruling is called out. This is where estate planning comes into play; your attorney will make sure all your rights are intact and that you are not a victim of any disrespectful ruling.

An estate law attorney is equally as helpful when it comes to dealing with taxation because he/she keeps an eye on each dollar extracted from your pocket, and reserves the right to question any authority that decides to take more out of you than it is entitled to.

• Recognizes Your Individual Needs

An estate attorney is the friend you need to talk out all your financial concerns with because those who are wealthy are not necessarily completely satisfied with life. A professional attorney is well trained to understand the perplexed images which blur the mind of their employers, and are well equipped to handle emotion with rationality.

In addition, they are some of the finest bunch you can find if you are looking for individuals who understand before recommending.

• Legal Enforcement

Attorneys are in business because the law is not for everyone to have an in depth knowledge about. Sometimes the most achievable of tasks turn out to contradict the law, and that is where your attorney should step in to inform you the feasibility of carrying that task out under the law your country abides by.

These legal mandates become very binding in these later years of one’s life, and your estate planning attorney is all the protection and brainpower you need to deal with them.

Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at http://seanjnichols.com/estate_planning.  To contact the offices of Sean J Nichols call 734.386.0224 today.

Attorney Help for Seniors Facing Aging Issues

Elder law lawyers are advocates for senior citizens and their needs.  Attorneys specializing in elder law handle a wide range of legal matters that affect seniors such as issues related to long term care planning, guardianship, Medicare/Medicaid, social security, retirement, estate planning, and other crucial issues.

Elder law attorneys are specialists in senior affairs due to their consciousness on the desires of the older adults which are often different between one another and those of younger adults.  Seniors deal with daily issues that affect their actual care, from residing in assisted living facilities and discrepancies in existing estate plans.  In our golden years we often look at our plans for retirement and aging with blinders on.  When it actually hits though we often realize that the way we mapped it out to achieve has not happened at all.

We imagine only happy circumstances in which our biggest concern is which cruise to take in any given year. The reality is, people get sick, they age and they run out of money or they lose the ability to make decisions for themselves. This is where a good elder law attorney can help.  Attorneys that specialize in helping people plan for the future and provide legal services to seniors can help seniors make the most of the challenging situations they may face. With years of experience in the field and plenty of resources at their disposal, these legal professionals have the greatest resources you can have to get you through your golden years with the support you need.

As we age, many of us are faced with problems that we've in no way had to deal with earlier than. Retirement planning, property planning, trusts, guardianships, lengthy-time period clinical wishes, Social protection, Medicaid and Medicare; these are only a few of the troubles that older adults face every day. Sometimes all of the paperwork coming at you can be overwhelming and often times perplexing. In situations like these the help of a lawyer who specializes in senior issues can be beneficial.

Elder care legal professionals are legal professionals who've dedicated their practice to meeting the unique wishes of seniors and their families. Elder law attorneys assist adults that are aging and their families to develop legal protection and get their affairs in order to ensure a smooth transition into retirement and beyond.  It is pertinent to develop a relationship  with a family law attorney that specialize in estate planning and elder law to avoid the pitfalls that come with aging and the vulnerability that is often faced by seniors.

Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at http://seanjnichols.com/elder_law.  To contact the offices of Sean J Nichols call 734.386.0224 today.

Hot Topics in Elder Law Planning

Elder law is a field of the law that specializes in legal issues which affect senior citizens. Elder law planning covers quite a few topics, but there are a few key areas which routinely fall under its jurisdiction, namely health care, financial, and relationship needs.

Attorneys who specialize in this field will work closely with their clients, along with their families, to get an all-encompassing view of their needs. This practice of working closely with the client is the best way for a lawyer to tailor the best legal solution and ensure a high quality of life.

Attorneys working with the elderly can create plans for retirement, and help them acquire the long-term care they need. They will also take the necessary steps to protect their clients businesses, ensure the fair and equitable dispersal of valuables to the heirs and charities, according to the client's wishes.
Health care issues are a major concern for the elderly and as the costs of assisted living or nursing home care can be quite substantial, proper planning needs to be in place to protect hard earned investments earned over a lifetime. Mismanagement in this area can often mean that the long-term care facility receives all of the person’s finances, rather than have it go to their loved ones.

Comprehensive elder law planning will put measures in place that protect the elderly should their health deteriorate to the point where they can no longer handle their finances. They can organize guardianships that go into effect once certain conditions are met, such as a doctor's declaration about their mental health.

Not every elder law attorney can be an expert in every area so when choosing an attorney, ensure they have the expertise and experience to suit your situation. If not, most attorneys will be more than happy to refer you to one of their colleagues, if they are not in a position to meet your needs.

Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols call 734.386.0224 today.

What is the Difference Between an Estate Plan and a Will

Estate plans and wills are powerful documents. They grant you the ability to distribute your estate, appoint guardianship, pick your heirs, and give your most valuable belongings to your favorite people. It's essential you have it in mind that a will is only a part of an estate plan, not an estate plan. A complete estate plan entails more than just a will. It should include an advanced directive, a power of attorney, and, if you so choose, trusts for your children, favorite charity, grandchildren or even a beloved pet.

Here is a concise explanation of each. An estate plan and a will grants you control over your assets, health decision, and a peace of mind for your family.
Estate planning allows you to prepare and forecast, during your life, for the supervision and control of your estate during your life and after death, maximizing gift, estate, and income tax in the process. By contrast, a will is a document that guides who will take your property after your death and it selects a legal delegate to ensure your wishes are carried out. An estate plan helps you plan for incapacity, reduce and eliminate uncertainties over the handling of a probate. It also minimizes the worth of the estate by decreasing tax and some other expenses. The ultimate goal of estate planning can be determined by the specific goals of the client and may be as simple or complex as the client's needs dictate

It should be clear that an estate plan involves the trusts, will, beneficiary designations, powers of appointment, property ownership (joint tenancy with rights of survivorship, tenancy in common, tenancy by the entirety), gift, and powers of attorney. It is the durable financial power of attorney and the durable medical power of attorney. In contrast, a will entails a property that is in your name when you die. A will never covers property possessed in joint ownership. A will never covers property possessed in joint ownership. For a property to be included in a will, it must be put in the estate plan. An estate plan covers every property that has been handed over to a trust. Some special decisions like whether to be buried or cremated can also be part of a will. It should be noted that some complex estate plans may even cover winding up a business.

A will go into effect only after you die, while an estate plan takes effect as soon as you create it. This implies that an estate plan contains documents like a trust, will, etc. which takes effect as soon as you create it. A will passes through probate. That implies that a court supervises the execution of the will and makes sure the will is authentic, and the property is shared the exact way the deceased wanted. A will permits you to name a guardian for your children and specify how your funeral should be. For an estate plan, you can plan for disability or provide savings on taxes. Your elder law attorney can tell you how best to use a will in your estate plan.
Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols call 734.386.0224 today.

The Importance of Estate Planning

Eѕtаtе рlаnning iѕ a term that is thrоwn аrоund a lot. And аlthоugh everyone agrees you ѕhоuld dо it, what is involved in the process is never ԛuitе explained in thоrоugh dеtаil. Pеrhарѕ thаt iѕ why ѕо mаnу people рut off thе tаѕk оf planning an estate and writing a will until thе last minute оr, wоrѕе, until it iѕ tоо lаtе. Lеt'ѕ detail not оnlу what еѕtаtе planning is but аlѕо what the еnd gоаlѕ оf planning уоur еѕtаtе should bе.

Eѕtаtе Planning, Whаt Is It?

Eѕtаtе рlаnning spans a rаngе оf fiеldѕ, inсluding thе drаfting оf a will, establishing trusts, reducing tаxеѕ, advance medical inѕtruсtiоnѕ, inѕtituting powers аttоrnеу, appointing truѕtееѕ, аnd buѕinеѕѕ succession planning. It involves сrеаting a fullу detailed рlаn thаt transfers уоur аѕѕеtѕ to thеir intended bеnеfiсiаriеѕ upon death. Whilе it ѕhоuld be wеll-ѕtruсturеd, it must аlѕо make rооm for flexibility.

Gоаlѕ аnd Rеwаrdѕ

Thе goals of planning уоur еѕtаtе and сrаfting a will аrе tо rеduсе lеgаl рrоblеmѕ, avoid expensive litigаtiоn, аnd rеduсе tаxеѕ. This, fоr аll its lеgаl complexity, rеԛuirеѕ the assistance аnd guidance аnd еxреrtiѕе of ѕеаѕоnеd lеgаl рrоfеѕѕiоnаlѕ whо ѕресiаlѕ in wills and еѕtаtеѕ. Cоmрrеhеnѕivе finаnсiаl and asset mаnаgеmеnt is оffеrеd during thiѕ рrосеѕѕ tо ensure that nо lоорhоlеѕ are lеft untiеd аnd nо dеtаilѕ аrе lеft оut, whiсh mау рrоvе to dеtrimеntаl tо thеѕе gоаlѕ in the еnd.

Before You Start Plаnning Your Eѕtаtе

Yоu will nееd a lawyer whоm уоu trust. If уоu dо not already have a lawyer, find оnе in уоur аrеа who ѕресiаlizеѕ in еѕtаtеѕ аnd willѕ, ѕресifiсаllу, tо hеlр уоu сrеаtе a solid ѕtrаtеgу that fitѕ уоur uniԛuе needs.  Don't bе timid! If уоu аrе not ѕurе уоu hаvе fоund thе right legal representation, trеаt уоur firѕt meeting with thеm as an intеrviеw. Ask questions and don't be аfrаid to ask fоr rеfеrеnсеѕ from сurrеnt сliеntѕ.

In рlаnning your еѕtаtе аnd creating a will, you have a vаriеtу оf орtiоnѕ, which you саn оnlу utilize with thе hеlр of  an attorney specializing in estate planning. It is wise tо соntасt legal rерrеѕеntаtiоn in your area as they will have the best understanding of  local laws that need to be recognized. Find a lаwуеr who ѕресiаlizеd in the аrеа оf willѕ and estate planning as they can guide you through the lоорhоlеѕ thаt саn еithеr nеgаtivеlу оr positively imрасt your efforts аnd gоаlѕ. A great lаwуеr will hеlр you tо dеviѕе a ѕtrаtеgу thаt is fullу in уоur fаvor and tаkеѕ full advantage оf аll estate lаwѕ.

In our next installment on estate planning we will go more in depth into the process and how it will affect your heirs and probate as it affects your end goal of transferring your assets.

Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols call 734.386.0224 today.

Finding an Attorney Specializing in Estate Planning

In order to create a proper estate plan you need to have an understanding of not only your investments but also your personal possessions.  It is also crucial that you are aware of and working with an attorney knowledgeable of the local laws and regulations.   The entire process can seem quite overwhelming if you don’t have the right professionals working with you to create a flawless estate plan to help ensure your estate avoids probate upon your passing.
A qualified estate planning attorney is best equipped to help you through this complex spider web of organizing your assets and creating a solid plan of action in the event of your untimely passing.  It is important to recognize that there is a difference between the types of attorneys that can help you create an estate plan verse one that can get you out of a criminal charge, divorce, or other such legal matters.
In order to create a flawless estate plan it is important that you work directly with an attorney that specializes in estate planning and a variety of issues that come along with aging such as elder law, probate law, wills and trusts, and more.  In this installment on estate planning we will share with you three tips to help you in finding and utilizing an attorney specializing in creating estate plans.

• Ask your family and friends for references to attorneys that they may have previously used to create their estate plans.  Working with an attorney in estate planning that you already have a remote connection to can generally start the process in the right direction.  The process of creating a plan for the transfer of your estate can be complex and complicated.  Working with a proven trust worthy attorney from the state can help.
• Get professional references from your financial advisor. They have inside information when it comes to working with area attorneys.  Your financial advisor is incredibly familiar with your financial assets.  They have worked in conjunction with many area attorneys and can guide you to a reputable estate planning attorney from the start. It is beneficial that your attorney and financial advisor have a working relationship as well to ease future transactions with the estate.
• Take time to spend researching the internet for not only estate planning attorney reviews but also information that is up to date on estate planning. The more you know about estate planning ahead of time the more prepared you will be.  Finding a local estate planning attorney is in your best interest as they will know the ins and outs of the estate regulations in your area.  The internet is a great source to get additional information to help make an educated decision.

As you start looking for an estate planning attorney remember to check for solid references from family, friends and trusted professionals.  To follow up recommendations and to gain more understanding of the process head to the internet for additional research.
Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols call 734.386.0224 today.

Mistakes to Avoid in Estate Planning

When creating an estate plan it is important to ensure that you are incorporating all the features in the correct way.  This is the main reason that you always hire a professional estate planning attorney to assist.  There are several common mistakes that can be made when preparing an estate plan.  In this installment on estate planning we will discuss the most common mistakes in estate planning to help you avoid making them.
The number one mistake that is made when drawing up an estate plan is not appointing a guardian for your children.  You must appoint a clear cut guardian for your children, in writing, to avoid problems at a later date.  Children under eighteen years of age need to be cared for by a guardian.  When you take the time to talk with individuals in your life about this responsibility and make it official by stating your desired wishes in your estate plan it will be easier to ensure the children will be properly cared for until they are eighteen.  Otherwise, like everything else, guardianship of your children will be determined in probate by the court.
Another common mistake in estate planning is to think that once you have a plan in place that it will forever be current and doesn’t need updating.  Your estate plan must be updated regularly when changes occur.  The birth of a child, grandchild, purchase of estate, and new investments are all changes that will require your estate plan to need updating.  It is in your best interest to get in the routine of updating your estate plan every three years if not more often.  If a fall out occurs within the family but your estate plan was already erected the individuals still have legal rights to your estate.  It is crucial to keep your estate plan up to date and file with an attorney specializing in estate plans and probate law.
Another common issue that is overlooked is inheritance tax.  When you are giving something to someone it is crucial that you account for the taxes that they will be incurring.  There are ways to minimize tax liability to the recipient.  If there a large state of liability, you have to be sure that you are dividing up the tax liability among different individuals.  Doing so makes it easier to account for tax liability and do your best to minimize it.
Proper estate planning should be done in conjunction with an attorney specializing in probate law and estate planning to avoid future issues involved.  An estate plan should ensure that this transition in your life is predictable and non problematic for your heir’s.
Learn more about attorney Sean J. Nichols and the legal services he provides for clients including: estate planning, elder law issues, Medicaid planning, elder care, probate law, guardianships, and power of attorney (POA) at www.seanjnichols.com.  To contact the offices of Sean J Nichols call 734.386.0224 today.