Author Archives: Skvarna Law

Remodeling May Impact Your Estate Plan

Architect house project concept, desktop computer on white work desk showing CAD sketch, minimalistic living room interior design in background, illustration. Generative AI

Between planning, permitting, and construction, the home remodeling process can take months to complete. But even after the finishing touches have been applied, you may still have work to do. If the home is part of an estate plan, a remodel can affect that plan and require changes to it. To keep your estate plan up to date, make sure to discuss a home remodeling project with an attorney.

Beneficiaries: Barbecue & Estate Planning Similarities

Barbecue grill logo on black background 8 eps

When creating your estate plan, decide who to assign as your beneficiaries. These are the individuals who will inherit your money and property when you pass away. Beneficiaries often include a spouse or partner, children and stepchildren, grandchildren, other relatives, friends, charitable organizations, and/or a church.

Pet Trust: Giving Your Pet a Good Life

Pet trusts fancy dog

Who would care for your pet if you die or somehow face incapacitation? Would your survivors know how to give your pet the same level of care you provide? A good way to ensure your pet is well cared for if something happens to you is to create a pet trust.

Long-Term Care & Artificial Intelligence

Doctor with stethoscope and Ui icon medical with advanced surgery robotic are precision on virtual interface, Future of healthcare, Medical, Science and Technology.

Studies highlight the importance of high-level principles, such as transparency, justice, fairness, and quality of care. Problems arise when there is too much room for interpretation to determine proper and ethical long-term care uses. It’s unclear how AI design in LTC will continue to unfold. We still need more studies evaluating the potential risks and impact of AI technologies used by older adults and their caregivers. Technology is advancing rapidly, but we must take the time to weigh the advantages and disadvantages. Adopting it too quickly and relying on it too heavily initially could have severe consequences.

Deathbed Gifts

Deathbed Incapacity Planning

Although gifts made within three years of your death are generally includible in your estate, an exception exists if a gift tax return was not required to be filed because the value of the gift was less than the annual exclusion amount. Transfers relating to life insurance policies, however, are an exception to this exception.

Helping Seniors Avoid Loneliness

Lonely Sad Man

Loneliness is feeling sad about a lack of human connections and interactions. While social isolation may make most people feel lonely, loneliness is not the same as being alone. However, not everyone who lives alone feels lonely. What’s more, not all people who feel lonely live alone. People of any age may feel lonely, but the condition is especially common in seniors.