Elder Law Firm of Andrew Olsen

How to Cash in a Paper Savings Bond After the Owner Dies

by admin August 18, 2017

For many people, savings bonds have been a long-time favorite investment tool.  The bonds usually take years to fully mature, but people often forget about them during the maturation period.  In some cases, the owner of the bonds dies before cashing in the bond and the owner’s family members later discover it and ask for […]

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The Importance of Estate Planning for Unmarried Couples

by admin August 2, 2017

A growing number of American adults are choosing to cohabitate instead of getting married.  Their reasons for cohabitation range from financial need to “been there, done that.”  Some unmarried couples believe they do not need an estate plan because do not have kids together.  However, there are several reasons why committed unmarried couples should consider […]

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A Request For A ‘Simple Will’ Isn’t Always Simple

by admin July 14, 2017

Elder law and estate planning attorneys often field inquiries from potential clients to draft a “simple will.” These queries are sometimes borne out of a desire for cost-efficiency. In other cases, clients believe that they do not have a large enough estate to warrant high-end estate planning or that their families are not complicated enough […]

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Top 10 Reasons To Consult An Elder Law Attorney

by admin July 6, 2017

The clients served by elder law attorneys can be among society’s most vulnerable citizens, who often seek help when they are most in need of experienced counsel. With effective advanced planning and the help of an elder law attorney, seniors can ensure security and peace of mind as they age. Here are the top 10 […]

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Using Trusts as a Tool in Long Term Care Planning

by admin June 16, 2017

Trusts are commonly used in estate planning for a myriad of reasons like avoiding probate or ensuring assets are managed for beneficiaries.  However, certain trusts are also useful tools in planning for long term care. The monthly cost of nursing home care in North Carolina can easily exceed $8,000 to $10,000.  These nursing home costs […]

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When to Challenge a Will Based on Undue Influence

by admin May 30, 2017

After a loved one passes away, family members are often surprised to learn who has inherited under the will.  In many cases, the person who has inherited under the will, the beneficiary, is a non-family member who seemed to have exerted disproportionate control over the loved one, the decedent, and inherited a substantial sum under […]

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The Five Kinds of Heirs Who Should Not Inherit Assets Directly

by admin May 19, 2017

When people die without a will, the state’s intestacy laws dictate which heirs will inherit from the deceased’s person’s estate.  Without a will, these heirs stand to inherit outright both personal belongings and money.  With a will, while a testator can decide which heirs inherit from the estate, if there is no contingent trust set […]

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Risky Business: Joint Ownership of Bank Accounts as an Estate Planning Tool

by admin May 2, 2017

A popular idea among our aging population is to add a co-owner, often an adult child, to an elderly person’s bank account.  The intended goal is for the co-owner to manage the elderly person’s finances upon illness or incapacity.  Elderly people also add co-owners to bank accounts to allow quick access to cash for funeral […]

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Pre-plan Long-Term Care to Avoid Family Squabbles

by admin April 19, 2017

Elder law attorneys often meet with family members who are seemingly at odds over the long-term care plans for their elderly loved ones.  Often, one family member will be appointed as a health-care agent, and the health-care agent will decide to admit a parent to a nursing facility.  In many circumstances, other family members will […]

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When Should Seniors Delay Applying for Medicare?

by admin March 28, 2017

Seniors may apply for Medicare just prior to turning 65 years old.  Medicare Part A covers hospitalization.  Medicare Part B covers outpatient care, such as doctor visits, x-rays and tests.  Part D covers prescription drugs.  There are some circumstances in which seniors may want to delay applying for Medicare.  These cases include when a senior […]

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