August 2011 - Law Firm of Jeffrey Burr

Trying to Protect Your Assets: Why Giving Money To a Family Member Does Not Work

Posted on August 30, 2011 by Law Firm of Jeffrey Burr

With the current state of the housing market, many of us know of a friend, family member, or neighbor who is contemplating walking away from their home. Whether that person decides to enter into a short sale agreement or let the home fall into foreclosure, he or she may be aware of the potential liability […]

Providing Long-term Healthcare Assistance for Loved Ones in Tough Economic Times

Posted on August 26, 2011 by Law Firm of Jeffrey Burr

Earlier this year, A study done by Genworth Financial, Inc. reported that nursing home costs in Nevada are more than $4,000 a year above the national median. In Nevada, a private room in a nursing home carries a median rate of $82,125 per year.* Given the current economic situation in Nevada, expensive nursing home costs can […]

Delaying Estate Planning – It’s Not Really That Bad

Posted on August 23, 2011 by Law Firm of Jeffrey Burr

Recently, it seems that I’ve lost more than my share of clients. Death is a part of our business, but it still troubles me sometimes. Two clients in particular come to mind that recently passed unexpectedly. One client was living in life’s sunset and he certainly experienced a full life. The other died very prematurely […]

Specific Bequests: Potential Ademption Problem

Posted on August 8, 2011 by Law Firm of Jeffrey Burr

Trusts and Wills often provide that a particular asset pass to a certain beneficiary. Such a bequest is a “specific bequest” in that it is satisfied only by receipt by the beneficiary of the specific, particular property identified in the Trust and Will. For example, a person leaves “100 shares of my Apple, Inc. stock to my daughter, […]

Federal Benefits Paid Electronically or by Debit Card

Posted on August 3, 2011 by Law Firm of Jeffrey Burr

The Treasury Department now requires all future federal benefits, including Social Security and VA, to be paid electronically. If you already receive electronic federal benefit payments, there is nothing further you need to do. You will continue to receive your benefit payments on your payment date as previously scheduled. However, if you presently receive a […]