Estate Planning Blog Articles

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Can Exercise Help with Dementia?

A new study shows that even when your memory starts to fade, you can still do something about it by adding aerobic exercise to your lifestyle, reports News Atlas’ recent article entitled “Aerobic exercise shown to improve memory in those at risk of dementia.”

The study concentrated on the long-term changes to cerebral blood flow that comes from aerobic exercise in patients already presenting with age-related mild cognitive impairment. Thirty subjects with an average age of 66 who did not regularly exercise but had signs of memory impairment were divided into two groups.

One group was asked to do several aerobic exercise sessions each week for 12 months, and the other group performed stretch and balance sessions aimed at strengthening their upper and lower body while keeping heart rates low. MRI scans calculated cerebral blood flow in all participants at the beginning and end of the year-long study.

After a year, the aerobic exercise group showed increased cerebral blood flow to the anterior cingulate cortex and adjacent prefrontal cortex, relative to the stretching group. Memory tests conducted at the start and end of the study also showed a 47% improvement in the aerobic group, while the stretching group had only minimal improvements. The study suggests a direct correlation between improvement on the memory test scores and increases in cerebral blood flow to these key areas of the brain.

While the number of people studied was small, the results are consistent with a large volume of prior research affirming the value of exercise in maintaining cognitive abilities in older age. Aerobic exercise appears to confer the greatest cognitive protections, especially in those most at risk of Alzheimer’s disease.

The researchers note that the group of patients that were recruited in the study all reported little to no regular exercise prior to the trial. The novelty of this particular trial is that it offers signs that aerobic exercise can confer cognitive benefits, even when started at an advanced age, after memory decline has already started, and those cognitive benefits may be mediated specifically by improved blood flow to specific regions of the brain.

The study was published in The Journal of Alzheimer’s Disease.

Reference: News Atlas (May 24, 2020) “Aerobic exercise shown to improve memory in those at risk of dementia”

What If Grandma Didn’t Have a Will and Died from COVID-19?

The latest report shows about 1.87 million reported cases and at least 108,000 COVID-19-related deaths were reported in the U.S., according to data released by Johns Hopkins University and Medicine.

Here’s a question that is being asked a lot these days: What happens if someone dies “intestate,” or without having established a will or estate plans?

If you die without a will in California and many other states, your assets will go to your closest relatives under state “intestate succession” statutes.

Yahoo Finance’s recent article entitled “My loved one died without a will – now what?” explains that there are laws in each state that will dictate what happens, if you die without a will.

In Pennsylvania, the laws list the order of who receives upon your death, if you die without a will: your spouse, your children, and then your parents (if still alive), your siblings, and then on down the line to cousins, aunts and uncles, and the like. Typically, first on every state’s list is the spouse and the children.

You may also have some valuable assets that will not pass via your will and aren’t affected by your state’s intestate succession laws. Here are some of the common ones:

  • Any property that you’ve transferred to a living trust
  • Your life insurance proceeds
  • Funds in an IRA, 401(k), or other retirement accounts
  • Any securities held in a transfer-on-death account
  • A payable-on-death bank account
  • Your vehicles held by transfer-on-death registration; or
  • Property you own with someone else in joint tenancy or as community property with the right of survivorship.

These types of assets will pass to the surviving co-owner or to the beneficiary you named, whether or not you have a will.

It’s quite unusual for the government to claim a deceased person’s estate. While it might be allowed in some states, it’s considered a last resort. Typically, we all have some relatives.

If you have a loved one who has died without a will, speak with an experienced estate planning attorney about your next steps.

Reference: Yahoo Finance (June 1, 2020) “My loved one died without a will – now what?

Here’s Why You Need an Estate Plan

It’s always the right time to do your estate planning, but it’s most critical when you have beneficiaries who are minors or with special needs, says the Capital Press in the recent article, “Ag Finance: Why you need to do estate planning.”

While it’s likely that most adult children can work things out, even if it’s costly and time-consuming in probate, minor young children must have protections in place. Wills are frequently written, so the estate goes to the child when he reaches age 18. However, few teens can manage big property at that age. A trust can help, by directing that the property will be held for him by a trustee or executor until a set age, like 25 or 30.

Probate is the default process to administer an estate after someone’s death, when a will or other documents are presented in court and an executor is appointed to manage it. It also gives creditors a chance to present claims for money owed to them. Distribution of assets will occur only after all proper notices have been issued, and all outstanding bills have been paid.

Probate can be expensive. However, wise estate planning can help most families avoid this and ensure the transition of wealth and property in a smooth manner. Talk to an experienced estate planning attorney about establishing a trust. Farmers can name themselves as the beneficiaries during their lifetime, and instruct to whom it will pass after their death. A living trust can be amended or revoked at any time, if circumstances change.

The title of the farm is transferred to the trust with the farm’s former owner as trustee. With a trust, it makes it easier to avoid probate because nothing’s in his name, and the property can transition to the beneficiaries without having to go to court. Living trusts also help in the event of incapacity or a disease, like Alzheimer’s, to avoid conservatorship (guardianship of an adult who loses capacity). It can also help to decrease capital gains taxes, since the property transfers before their death.

If you have several children, but only two work with you on the farm, an attorney can help you with how to divide an estate that is land rich and cash poor.

Reference: Capital Press (December 20, 2018) “Ag Finance: Why you need to do estate planning”

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