by SAMUEL B. LEDWITZ, J.D., LL.M. | Last updated Aug 29, 2023 | Estate Planning, Living Trusts, Trusts, Wills
When estate planning for digital assets, it’s important to consider the following: Identify what digital assets you have: This includes social media accounts, email accounts, online banking and investment accounts, and any other digital assets that may have financial or sentimental value.
Determine who will have access to the assets:
by SAMUEL B. LEDWITZ, J.D., LL.M. | Last updated Aug 29, 2023 | Advanced Estate Planning, Assisted Living, Conservatorships, Elder Care, Estate Planning, HIPAA, Living Trusts, Resources, Trusts
As we, our parents and relatives age, their ability to live independently eventually becomes unsafe, unrealistic—or both. One option in having them avoid the very real possibilities of household accidents and injuries can be found in convincing our elder loved ones to reside in assisted living facilities. Not to be confused with convalescent homes, assisted living accommodations are less expensive and offer options that can enable seniors to enjoy a large degree of autonomy. They range from single residences to multi-level apartment complexes. Visually, they are more appealing than nursing homes (without their depressing atmosphere). In addition, they provide a more traditional residential ambiance in that they have reading areas, kitchenettes and private sleeping quarters. What also distinguishes them from a convalescent setting is that they reinforce “activities of daily living” or ADL’s (morning routines, bathing, preparing meals, and getting dressed). This is provided by staffing case managers who instruct and recommend more efficient ways to help them continue to live independent lives. In many ways, it is the best of both worlds. Seniors are able to have onsite care/support as needed, while being able to enjoy their golden years in a safe, independent environment. Tenants are encouraged to participate in group activities (such as shuttle service to attend concerts, movies, and casinos). In addition, many are allowed to have small pets live with them. As they age, seniors can transition to an elder care facility once it becomes evident that intensive medical care and attention are needed. According to Arizona Assisted Living Cost, assisted living facilities are regulated at the state level. In general, these facilities are required... by SAMUEL B. LEDWITZ, J.D., LL.M. | Last updated Aug 10, 2023 | Advanced Estate Planning, Estate Administration, Estate Planning, Probate, Trusts
When someone passes away, one of the first things a Trustee need to do is to find out what assets are in the trust, which need to be put into the trust, and which have direct beneficiary designations. Most estate plans have an inventory sheet where all the trust assets are listed, but most people ignore it, or the inventory in it gets outdated over time.
The best place to start is by collecting the deceased person’s mail.
by SAMUEL B. LEDWITZ, J.D., LL.M. | Last updated Apr 20, 2023 | Estate Planning
It’s no secret that the past few years have been rough for most business owners. But just because the pandemic is just about in the rear-view mirror, that doesn’t mean financial help for businesses is no longer available.
Longtime estate planning attorney Samuel B. Ledwitz, who also works with dozens of small business owners, said the employee retention credit — or ERC — can still help businesses get back — or stay — on fiscal track.
by SAMUEL B. LEDWITZ, J.D., LL.M. | Last updated Feb 22, 2023 | Estate Planning, Probate, Taxes, Trusts, Wills
There are two common estate planning technique mistakes that we see in our office all the time.
They are Payable on Death (POD) and Joint Tenancy with Right of Survivorship (JTWROS).
by SAMUEL B. LEDWITZ, J.D., LL.M. | Last updated Feb 22, 2023 | Estate Planning, Probate, Trusts
Every year, during our free 3-year reviews, without fail, we find that a few of our clients have inadvertently placed a piece of real estate in danger of going through Probate
