Amy's Angle

  10 Things You Should Know About Living Wills by Amy Clemmons Brown, Esq. When it comes to estate planning, you’ve most likely heard people mention a couple of different types of wills. The most common is a “last will and testament,” which is also known simply as a “will.” But you may have also heard people talk about what’s called a “living will.” Both terms describe important legal documents used in estate planning, but their purpose and the way in which they work is very different. Here we are going to discuss some of the most critical things you should know about living wills, and explain why having one is an essential part of every adult’s estate plan and how to get yours created or updated.  1. What Is A Living Will? A living will, often called an “advance healthcare directive,” is a legal document that tells your loved ones and doctors how you would want decisions related to your medical care handled in the event you become incapacitated and are unable to make such de...

  Frequently Asked Questions About Long-Term Care Insurance by Amy Clemmons Brown, Esq. Our nation’s population is aging at a faster rate than ever before, and collectively, we are living much longer than in the past. In fact, by 2034, seniors (age 65 and older) will outnumber children under age 18 for the first time in U.S. history, according to the U.S. Census Bureau. With the booming aging population, more and more seniors will require long-term healthcare services, whether at home, in an assisted living facility, or in a nursing home. However, such long-term care can be extremely expensive, especially when it’s needed for extended periods.   Moreover, many people mistakenly believe that their health insurance or the government will pay for their long-term care needs. But the fact is, traditional health insurance doesn’t cover long-term care. And though Medicare does pay for some long-term care, it’s typically limited (covering a maximum of 100 days), difficult to qual...

Think You Are Too Young to Need An Estate Plan? Think Again! by Amy Clemmons Brown, Esq. The pandemic has caused Americans to change their behavior in a number of different ways, and one of the most positive of these changes is related to estate planning. For the first time since the study’s inception, Caring.com’s 2021 Wills and Estate Planning Study found that young adults are now more likely to have an estate plan than middle-aged adults. Specifically, the study found that in 2020 only 16% of Americans aged 18 to 34 reported having a will or another estate planning document, but in 2021, that percentage rose by 10 points to 26%—a 63% increase in just one year. Conversely, the 2021 study found that the number of 35 to 54 year-olds with an estate plan actually decreased from 27% in 2020 to 22% in 2021. Since young adults are traditionally the least likely to engage in estate planning, the study’s results are particularly encouraging for this demographic. And the shift in behavior is l...