Newsletter Archives - Asset Preservation

Let me explain to you the difference between an executor, and administrator and a trustee. Executor and Administrator are terms for somebody who handles an estate in probate. An executor for someone who died with a will; the Administrator for someone who died without one. A Trustee manages the assets of a trust. So if somebody dies having a Living trust, that's managed by a trustee. Living Trusts do ...

More Lunch N Learns! In O'Fallon, IL and St. Louis, MO   You asked and we listened. We are offering workshops in Illinois and in Missouri on Medicaid Look-Back Rules and Estate Planning topics. These workshops are still at absolutely no fee to you to attend, and we are still providing you with lunch!There are a very limited number of seats ...

Asset preservation planning is legal planning directed toward protecting your home, investments and other assets from being taken or used during your lifetime to pay for things that won’t benefit you or your family. It has traditionally been used by business owners and people with accumulated wealth to protect their assets against risks such as business failures, lawsuits and taxes. If you fit either of those descriptions, you should strongly consider developing an asset preservation plan. More ...

Understanding the effects of the relative size of the Baby Boom compared to preceding and succeeding age groups is essential to anticipating the demand for long-term services and support and the potential availability of family care in the future. And then I learned about Linda. At first, Linda doesn't seem like the sort of career I would want in my old age. ...

What It Means for You and What You Need to Do About It A new study estimates that more than 90 percent of working-age households in the U.S. are not saving enough for retirement. And about 45 percent have nothing saved. In addition, the National Institute on Retirement Security study found that the median retirement savings ...

A correction to the previous video "If You're Married & Over 65, Your Wills Are Probably Wrong." Wes Coulson explains the difference between leaving everything to each other and for each other. Hi, I’m Wes Coulson and this is your Elder Law Minute. I kind of messed up last week, so I’m going to ask you to do what I meant and not what I ...

Wes Coulson discusses income tax tips for giving to charity and how you can get the most out of your charitable contributions. Through planning, there are ways to save on your taxes when making charitable donations. Hi, I’m Wes Coulson and this is your Elder Law Minute. You probably already know that you get a tax deduction for making charitable contributions. But did you know ...

In this Elder Law Minute, Wes Coulson, Illinois and Missouri Elder Law Attorney, explains the difference between revocable trusts and irrevocable trusts. What's the Difference Between a Revocable Trust and an Irrevocable Trust? Transcript: Hi, I’m Wes Coulson and this is your Elder Law Minute. One of the questions I get occasionally is, “What’s the difference between a revocable trust and an irrevocable trust?” Of ...

Wes Coulson discusses how you can leave your inheritance as a retirement plan for your children. Hi, I’m Wes Coulson and this is your Elder Law Minute. I saw something in the news a couple weeks ago expressing grave concern about the number of baby boomers who really haven’t set aside any money for retirement. We baby boomers are notorious for spending however much money ...

If you are married and over 65, you probably have sweetheart wills, which means that if one spouse dies, they leave everything to their spouse. This can be problematic because it subjects your entire estate to the risk of being lost if the survivor ends up needing nursing home care. Wills that leave everything to each other instead of for each other are more ...