One thing that can have a major impact on a trust is how the trust is administered. The person in charge of administering a trust is the trust's trustee. Thus, the role of trustee can be a very impactful one.
There are many types of costs that a senior generally never wants to hear are going up. One such type are nursing home costs. Unfortunately, a recent report indicates that going up is exactly what nursing home costs are doing here in the United States.
There are all manner of different after-death gifts that a person can set up their estate plan to make. This can be seen in some news that has arisen regarding a recently-deceased famous college basketball coach. The coach arrayed part of his estate plan towards making a nice gesture towards his former players.
When an older individual is heading into retirement, one thing they often put a lot of pride in and care quite a bit about is the nest egg they have built up over the years. Such a nest egg can represent decades of hard work and a person's hopes of having the kind of retirement they deserve after all that hard work.
Everyone hopes that their elderly years will be relatively uneventful health-wise. Sadly though, it is not at all uncommon for a health crisis to strike a senior. Such a crisis can lead to an individual needing extensive home care or having to move into a nursing home.
A major concern that a person may have as they get older is: What will happen with my assets as I continue to age and after I pass away? One of the main aims of elder-law-related estate planning is to help address such concerns.