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Wednesday, August 03, 2011 Should I Give All My Assets to My Children? This would depend. More than any other type of estate planning, a good long term care plan must be tailored to the individual family and the family's assets. One size does not fit all. It is true that sometimes it will work to have your assets controlled by your children, but this is a small minority of the time. The key to proper estate planning is to keep as much control over your life and your assets as possible. Giving your assets to your children does not achieve that goal. Not only are the assets out of your control, but they are also subject to all of your children's creditors, the stability of their marriages, their own health concerns and their financial difficulties. Good long term care planning protects your assets, whereas giving your assets to your children subjects the assets to additional risk. Assets should only be divested as part of a carefully crafted plan developed with the assistance of a qualified professional advisor. A carefully designed custom plan will allow you to keep the greatest degree of control. Permanent Link write a comment

Subscribe via Email Subscribe via RSS Previous Posts What Happens If I Do Not Plan My Estate? What Is A Will? What Is Meant by “Estate Planning” Basic Concepts of Estate Planning When Should I Start Planning For Long Term Care? Planning For Long Term Care Check Your 1099's Charitable Remainder Trust How Can I Remove Property From My Taxable Estate and Still Benefit? What is a Living Will? Blog Categories Business Exit Planning Estate Planning General Legal Medicaid and Long Term Care Planning VA Benefit Planning Blog Links Archived Posts 2012 May What Happens If I Do Not Plan My Estate? March What Is A Will? What Is Meant by “Estate Planning” Basic Concepts of Estate Planning February When Should I Start Planning For Long Term Care? Planning For Long Term Care Check Your 1099's January Charitable Remainder Trust How Can I Remove Property From My Taxable Estate and Still Benefit? What is a Living Will? 2011 December Should More Than One Successor Trustee Be Named? How Can A Trustee Be Replaced? What Are The Advantages and Disadvantages of Selecting a Corporate Successor Trustee? November What Are the Advantages and Disadvantages of Selecting an Attorney, CPA or Financial Advisor as Successor Trustee? What Are the Advantages and Disadvantages of Selecting a Family Member or Friend As Successor Trustee? October Who Can I Select To Be A Successor Trustee? Upcoming Estate Planning Seminars - Two Locations September What Are the Duties & Responsibilities of a Successor Trustee It is Important to Name a SuccessorTrustee How Do I Nominate and Replace a Guardian? How Do I Choose A Guardian? What Are The Duties of A Guardian August The Importance of Guardians and Trustees Should I Give All My Assets to My Children? July How To Select An Estate Planning Attorney June What is a Power of Attorney? Healthcare Power of Attorney Tax Law Update Seminar May Wills Retirement Planning with Social Security What is an Irrevocable Life Insurance Trust? What Your Clients Need You to Know About Social Security April Medicaid & VA seminar Divestment Strategies and Long Term Care What is HIPAA? March Is This All About Taxes? Long Term Care Insurance VA Benefit Planning Seminar Estate Taxes in 2011 Estate & Income Tax Law Seminar What is a Financial Power of Attorney February What is a Trust? Heritage Planning Seminar Choosing A Trustee VA Pension Plan Progam Three Essential Estate Planning Documents 2010 May Working Smarter April How Much Cash Will You Need From the Sale of Your Business? SBA Rule Changes Make Exit Possible for More Owners

With two offices in Wisconsin, the Wisconsin law firm of Hooper Law Office assists clients with Wisconsin estate planning, asset protection, trusts, wills, estates, probate administration, trust settlement, probates, medical assistance planning, Medicaid planning and eligibility, nursing home planning, long-term care planning, elder law, business exit planning, business succession planning, special needs planning, retirement planning, charitable giving, family limited partnerships, wealth transfer planning, and real estate and transactional law. With over fifteen years of experience practicing law, Hooper Law Office is an experienced estate planning law firm with attorney Foss Hooper. They are trust attorneys, probate attorneys, asset protection attorneys, Medicaid attorneys, elder law attorneys, corporate attorneys, and real estate attorneys serving Outagamie County, Brown County, Cities served include include: Appleton, Green Bay, Clintonville, Oshkosh, Fond du Lac, Shiocton, New London, Freedom, Sherwood, Seymour, De Pere, Kaukauna, Kimberly, Shawano, Pulaski, Oconto, Fremont, Stevens Point, Wautoma, Winneconne, Omro, Berlin, Ripon, Green Lake, Waupun, Beaver Dam, Lomira, Mayville, West Bend, Oostburg, Sheboygan, Plymouth, Manitowoc, Two Rivers, Kewaunee, Algoma, and Sturgeon Bay.