Blog - Michaelson Law

Strategic Asset Protection in Nevada

Posted on March 10, 2023 | by grace

As the tax season approaches, many people are looking for ways to minimize their tax liability and protect their assets. In Nevada, strategic asset protection is a key tool that can help achieve these goals. Asset protection is the practice of safeguarding one’s assets from potential legal claims, creditors, and other risks. Strategic asset protection involves a proactive approach to protecting your estate, using legal structures and strategies to minimize
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Maximize Senior Independence Through Legal Planning - Michaelson Law

4 Ways to Maximize Senior Independence

Posted on February 1, 2023 | by grace

February is Senior Independence Month Thoughtful legal planning is a key aspect of aging gracefully. As you enter your senior years, it is important to create documents that allow you to maximize your independence and keep your legacy intact. For most seniors, having plans in place for the healthcare, financial, and legal decisions is an essential part of maintaining their independence, but the task can often seem daunting. So, in
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3 Legal Resolutions for 2023

Posted on January 11, 2023 | by grace

The new year is here and it’s time to start making those New Year’s resolutions. And while you may be thinking about joining a new gym, signing up for cooking classes, or booking your dream vacation, consider adding some legal resolutions to your list as well. Though they might not seem as interesting or exciting, getting your legal affairs in order will give you priceless peace of mind and set
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Caring Child or Calculating Caretaker?

Posted on November 22, 2022 | by grace

As parents age and their physical and mental capacities diminish, their adult children will often step in to provide care. One child may take over the majority of day-to-day responsibilities, including things like facilitating appointment with doctors and attorneys. As this continues to happen, the parent increasingly depends on that child, and it can make sense to appoint that child as a trusted decision maker and to even give them
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How Will Getting a Divorce Affect My Estate Planning

Posted on October 12, 2022 | by kwaechter

Getting a divorce is never an easy process; it is emotional and stressful for all involved. For younger couples, children and family estate planning are likely a top concern. For older couples, long-term care, retirement plans, and inherited assets may be more significant concerns to think about. Keep reading for some things to consider about divorce and estate planning if you are ending a long-term marriage. Asset Division Dividing
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When is Guardianship of an Elderly Parent Needed?

Posted on September 14, 2022 | by kwaechter

When people think of guardianship, they often think about a minor child in the care of a designated adult family member or friend, or perhaps a disabled adult child who needs care after turning 18. However, guardianship of an elderly or aging adult, usually a parent, who is losing their physical and mental health capacities is also fairly common. While the process is similar, there are some distinct differences when
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Estate Planning or Elder Law: What do You Need?

Posted on August 12, 2022 | by kwaechter

As you get older and begin to plan for living life in retirement, you may hear the terms “estate planning” and “elder law” brought up regularly. There are some clear differences between estate planning and elder law, but they also have some important similarities. Even though these two types of law are technically utilized for two different stages in life, elder law and estate planning are often handled at the
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Can My Trust Own My Business After Death?

Posted on July 8, 2022 | by kwaechter

The answer to the title question depends on a few factors, but, in general, yes —your trust can own your business after you die. There are several factors to consider, including the type of business and the type of trust. Is your business a limited liability company (LLC), a partnership, a corporation, or a sole proprietorship? Another consideration is how your business is managed; is your business managed as an
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What to Do if a Family Member Dies Without a Will

Posted on June 15, 2022 | by kwaechter

Estate planning is an important process that includes setting up trusts, wills, and POAs. No matter your age or asset level, having a will is beneficial. According to a recent survey, nearly 33 percent of Americans have no estate plan at all, and that includes a basic will. With over 1/3rd of the country unprepared, it is likely that you have a parent or family member who will die without
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Signs of Elder Financial Fraud and Elder Abuse

Posted on May 6, 2022 | by kwaechter

Elder financial fraud and elder abuse and two important topics that are important to discuss and be aware of as we age. We like to think that these issues won’t hit us or our loved ones, but elder abuse is much more common than many people realize. According to the World Health Organization, around 1 in 6 people 60 years and older have experienced some form of abuse in the
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