The Medicaid definition of “income” comes from federal law and reads as follows: Income is “[a]nything a person receives either in cash or in kind that can be used to meet the person’s basic needs of food, clothing, or shelter.” [Read More]
Ask the Elder Law Lawyer: How Much Do I Need to Save for Retirement?
If you’re like 70% of people in the US who have a retirement plan, you still haven’t worked with a professional such as an elder law attorney in Northwest Iowa in order to determine how much money you really need to save. A recent study found that only about 30% of this group has actually sat down with a professional to come up with a realistic number. [Read More]
101 Death Hacks: A Cheat Sheet for Arranging Your Affairs Before You Die [Part Four]
When you build a house, you want to do so efficiently. Pine 2x4s are cheaper than 1½” oak floor boards, so that’s what you use to frame the house. When you’re making your estate plan, you don’t want the family farm to wind up being sold to pay a tax bill, the costs of probate, or the medical expenses of your beneficiaries. Fortunately, with a little forethought and some organization, you can avoid those kinds of problems and make a plan to pay or even avoid those costs without jeopardizing your wishes. [Read More]
High Five: The Zen Guide to Probate
Life is full of transitions, and the end of someone’s life can be the most significant transition of all. Amidst the emotional challenges that come with laying a loved one to rest, it can be intimidating to discover that you’ve been designated as the executor of your loved one’s estate. Then you find out you are a fiduciary and the heavy responsibility that imposes, and suddenly you’re feeling like a fish out of water. [Read More]
Estate Planning for Single Parents in Northwest Iowa
Single parents tend to work hard for their children. Every day it falls to the single parent to provide just about everything for his or her children, and with 13 million single parent households in the US, there are a whole lot of folks doing their best to provide everything their children need today. So it’s no wonder that those in Northwest Iowa want to protect the children they would leave behind should they be killed or become incapacitated. [Read More]
[FAQ]: Which Business Entity Should I Choose?
Starting your own business can be a daunting prospect, filled with decisions ranging from whether you should have a storefront to how much you should pay employees. You’ll need insurance of many colors, an attractive logo. You’re hoping for a big splash and wild success. But you may have forgotten one very important choice: which business entity will you use? [Read More]
Who Really Needs a Business Lawyer in Northwest Iowa?
To the average person, the term “business lawyer” or “corporate lawyer” may sound like something that only exists on Wall Street. In reality, though, nearly every business in Northwest Iowa can and should use the services of a good business lawyer. This means large and small businesses alike. [Read More]
Northwest Iowa Probate Attorney Asks: Do You Know How to Manage Your Inheritance?
Receiving an inheritance is both an honor and a responsibility, and Northwest Iowa probate and trust administration lawyers constantly see individuals who are just not ready to take that on appropriately. The temptation to simply spend away an inheritance as “bonus” money can be strong, but there are a whole lot of very practical means by which to manage the funds for your own future. [Read More]
