Required

Questions to Help Start Your Estate Planning

If you have never engaged in the estate planning process, then getting started can seem somewhat overwhelming. There are many decisions you need to make concerning how your assets will be distributed.

Hiring a good elder law attorney is essential to getting a good plan. The attorney can help guide you into making good decisions.

However, you do not need to wait until you see the attorney for the first time before making some key decisions.

Asking yourself the right questions can get you started.

Market Watch offered some suggestions in “Giving your money away when you die: 10 questions to ask,” including:

  • Do you have more than enough money to meet your own needs? This will help you figure out whether you want to start a “gifting” plan to shrink the size of your estate.
  • If you cannot make your own medical decisions at the end of your life, who would you like to make them? This will help you make sure you get an appropriate person named on a health care power of attorney.
  • Will the federal estate tax be an issue for your estate? If you are not a multi-millionaire, you will not need to worry about the tax.
  • Does your state have its own estate or inheritance tax? While most states have abolished their estate taxes, a few still have them. Therefore, it is important to know whether your estate could be affected by your state’s taxes.
  • Have you investigated any charities that you want to support? If you plan to leave some money in your estate plan to charity, it is important to make sure the charities you choose are reputable.

Reference: Market Watch (Oct. 29, 2017) “Giving your money away when you die: 10 questions to ask.”

Hear From Our Clients
tes-prev
tes-next

I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce

Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!

- Marcia

I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!

- Ben