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After the previous steps, as described in prior blog posts, it is now time to apply for tax exempt status. This process can be done in one of two ways.

Vick Law, P.C. is excited to announce that Thomas A. Vick will be a presenter at National Business Institute's Elder Law and Medicaid Planning seminar in May 2020.

Video content can be found within blog post.

Estate planning can be a very difficult process. While it’s not brain surgery, making the decision to move forward with the planning requires us to face the fact that we will not live forever. This thought can stop many people right in their tracks.

In 2008, Congress recognized the need for the public to understand the importance and benefits of estate planning by passing House Resolution 1499, which designated the third week of October as National Estate Planning Awareness Week. Nevertheless, according to a 2019 survey carried out by Caring.com, 57% of adults in the United States have not prepared any estate planning documents such as a will or trust despite the fact that 76% viewed them as important.

This question is the main reason why young married couples enter the office of an estate planning attorney. The greatest concern for these clients is often not related to the efficient distribution of their wealth to the next generation. Rather, the greatest concern for young married couples is often the question of whom will care for their children if something traumatic should prevent both parents from caring for them.

A Last Will and Testament that was signed many years ago should be reviewed with an estate planning attorney. The estate planning attorney may not recommend any changes to the Last Will and Testament.

Video content can be found within blog post.

Video content can be found within blog post.

This question is very client specific. Sometimes clients desire that stepchildren be treated no differently than the client’s biological children. Other clients sometimes want only their children to receive their property.