Blog

A Primer on Guardianship — An Introduction

By: David A. (Andy) Hall, Esq., andy@elvilleassociates.com Potential clients will often come into our office because their loved one is no longer able to manage their financial affairs or health care decisions due to a disabling event or disease. One study suggests that nearly two-thirds of Americans do not have incapacity planning documents. When the …

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Estate Planning Vocabulary

By: Olivia R. Holcombe-Volke, olivia@elvilleassociates.com Estate planning documents frequently contain vocabulary that is specific to the field of estate planning, and not commonly used by the world at large. The following list, while not comprehensive of all of the confusing or unfamiliar terms within the estate planning context, are some of the words or concepts …

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Navigating Social Security Disability

By:  Barrett R. King, Esq. barrett@elvilleassociates.com Social Security Disability Insurance “pays benefits to you and certain members of your family if you are ‘insured,’ meaning that you worked long enough and paid Social Security taxes.”1 In order to have worked “long enough,” you must have forty ‘credits’. One credit is earned for every $1,220 in …

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The Mathematics of Portability – What it Means to You

By:  Stephen R. Elville, J.D., LL.M. steve@elvilleassociates.com Portability represents the single biggest change in the estate tax laws since the implementation of the unlimited marital deduction in 1981. Understanding the mathematical import of Portability as the numbers relate to you and your estate plan could have huge financial implications for your heirs – an impact …

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Powers of Attorney / Poderes Legales y Notariales

By: Verena Meiser, J.D. verena@elvilleassociates.com Powers of Attorney are an important part of every estate plan, and every adult over the age of 18 should have powers of attorney in place.  A lot of misinformation is shared by well-meaning friends and family about the consequences of having a power of attorney.  This article should help …

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5 Easy Things You Can Do To Manage Your Business Better

By:  Matthew F. Penater, Esq. matthew@elvilleassociates.com As a Business Succession attorney, I have the opportunity to see into the internal operations of businesses, especially all the legal-related problems business owners encounter.  The most common issues I see have to do with improper financial reporting and tax reporting.  But, I see any number of additional issues …

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Why Is Including Survivorship Language in Your Estate Plan Important?

By: Olivia R. Holcombe-Volke, Esq. olivia@elvilleassociates.com In a well-drafted Last Will and Testament or Revocable Living Trust for a single person, there will be at least one provision that addresses how long a beneficiary must survive the testator to be deemed to have survived the testator, and, thereby, to be able to inherit under the …

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Planning for Digital Assets — What Clients Need to Know

By: Stephen R. Elville, J.D., LL.M. steve@elvilleassociates.com I think we can all agree about the following:  technology has become a dominant force in our lives; most of us use one or more email accounts; many people participate on social media sites; many people use internet banking or brokerage services, and pay bills or make other …

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Spendthrift Clauses

Olivia R. Holcombe-Volke, J.D. olivia@elvilleassociates.com A spendthrift clause is a provision that protects assets or certain trusts against the creditors of a beneficiary of those trust assets.  In practice, this means that a beneficiary of a trust containing a spendthrift clause can’t buy a house using trust funds as collateral.  Nor can a creditor force …

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The Need to Protect Your Life’s Work

Barrett R. King, J.D. barrett@elvilleassociates.com No one starts a business (or a marriage, for that matter) with the intention of leaving it. Yet it does happen. Partnerships, like marriages, take quite a bit of work between the partners to maintain stability and a healthy dynamic. When clients come to Elville & Associates for estate planning, …

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