ElderLaw News-The Estate Planning & Elder Law Firm, P.C. — MD, VA, DC
ElderLaw News
ElderLaw News is a weekly e-newsletter that brings you reports of legal developments and other trends of vital interest to seniors and their advocates. This newsletter is brought to you by The Estate Planning & Elder Law Firm, P.C., William S. Fralin, Esq., President., William S. Fralin, Esq., President.

Financial Spring Cleaning

Snow has finally left the forecast and warmer temperatures are on the way.

Many use this as an opportunity to clean their house and assess the damage that winter has done to their yard. Spring is also an excellent time to personally assess your financial and legal situation. The following are a few reasons of why a personal assessment of your financial and estate plans is easy to incorporate into the other activities you are doing this time of year.

Reason #1 It’s Tax Season – While tax season is dreaded by many, it is also a time individuals are forced to confront their financial reality. Use the information you gathered to adjust your budget and plan for the next year or years. Also, your tax return is a great source of information needed to review your estate planning documents. For example, do you regularly donate to a charity that you have not included in your will? Then it might be time to adjust your estate plan to include that charity.

Reason #2 Housecleaning – Organizing closets, storage, and other nooks and crannies in your house offers a great opportunity to dig out and review your important documents. Take a few moments to look over your insurance policies to determine if they meet your current needs. Also, be sure to review you estate planning documents to make sure they are still in accordance with your estate planning goals. Finally, review your financial statements to make sure the proper beneficiaries are named on them. If you are unsure on any of these matters, it is an excellent time to call your financial advisor, attorney, or insurance broker to reassess your needs and goals.

Reason #3 Family Events – Spring is a great time to spend time with family. Family moments such as: spring break trips; gatherings over Easter, and sporting events offer a great opportunity to discuss your beliefs, goals, and plans. These discussions can help you formulate a financial and estate plan that not only meets your goals, but is also matches the needs of your other family members.

We hope that these reasons help you remember to take a few additional moments to address your important planning needs while you are doing your spring cleaning. If you find yourself needing assistance in interpreting your estate planning documents (or need to have some created) please give us a call. We are happy to assist you through the planning process. Let this be the spring that you feel comfortable in your clean home and confident in your family’s future.


Speakers

If you are interested in having an Elder Law attorney from The Estate Planning & Elder Law Firm, P.C. speak at an event, then please call us at:

Maryland (301) 214-2229
Virginia (703) 243-3200
Washington DC (202) 223-0270

The Estate Planning & Elder Law Firm, P.C.

The Estate Planning & Elder Law Firm, P.C. is an elder law firm. We represent older persons, disabled persons, their families, and their advocates. The practice of elder law includes estate planning, estate and trust administration, powers of attorney, advance medical directives, titling of assets and designations of beneficiaries, guardianships, conservatorships, and public entitlements such as Medicaid, Medicare, Social Security, and SSI, disability planning, income tax planning and preparation, care management, and fiduciary services. For more information about The Estate Planning & Elder Law Firm, P.C., please visit our website at http://www.chroniccareadvocacy.com.

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Distribution of This Newsletter

The Estate Planning & Elder Law Firm, P.C. encourages you to share this newsletter with anyone who is interested in issues pertaining to the elderly, the disabled and their advocates. The information in this newsletter may be copied and distributed, without charge and without permission, but with appropriate citation to The Estate Planning & Elder Law Firm, P.C. If you are interested in a free subscription to the Elder Law News, then please e-mail us at office@chroniccareadvocacy.com, telephone us at (703) 243-3200, or fax us at 703-841-9102.

This newsletter is not intended as a substitute for legal counsel. While every precaution has been taken to make this newsletter accurate, we assume no responsibility for errors, omissions, or damages resulting from the use of the information in this newsletter. The Estate Planning & Elder Law Firm, P.C. thanks the law firm of Hook Law Center for their input to this newsletter.

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