Your estate may be worth a little or a lot at your death. The items which your beneficiaries might cherish could be the sentimental ones. Read on to learn how your will or trust could provide the ability for you to keep a list and update it without needing to see your lawyer every time you change your mind on an item. The Little Things May be the Most Important … [Read more...]
Domestic Asset Protection Trusts
Domestic Asset Protection Trusts are spreading to more jurisdictions. However, their protections may be waning. Read on to learn more about Domestic Asset Protection Trusts. Domestic Asset Protection Trusts … [Read more...]
How to Use a Living Trust to Stagger an Inheritance
Creating a successful estate plan requires you to take a wide range of factors into consideration as well as blend numerous goals into one cohesive plan. Deciding who you wish to pass down your assets to is only the beginning for most people. You may also need to decide how you wish to pass down those assets. This is particularly true if you have a beneficiary to whom you are hesitant to gift a large lump sum inheritance. The Westport living trust attorneys at Nirenstein, Horowitz & … [Read more...]
Is Long-Term Care Insurance Worth the Cost?
An important aspect of estate planning is planning for your retirement years. Doing so requires you to do more than just stash as much money away as possible – though saving money certainly is important. Planning for your retirement years should also take into account the very real possibility that you, or a spouse, will need long-term care at some point. That possibility may have you considering the wisdom of purchasing a long-term care insurance policy. The Hartford Medicaid attorneys at … [Read more...]
Connecticut Ranked in Bottom Half of States for Elder Abuse Protection
America is experiencing a historic growth in seniors – and that growth is not projected to slow down anytime in the near future. With the dramatic increase in older Americans has come an increased awareness of issues that impact them, including the prevalence of elder abuse, neglect, and financial exploitation. States across the nation are scrambling to try and prevent, or at least combat, the problem of elder abuse, with varying success. According to a recently released study by Wallet Hub, the … [Read more...]
Nongrantor Trusts Can Be Very Useful in Certain Situations
A trust may be taxed as either a grantor trust or a nongrantor trust. Each type of trust has advantages and disadvantages. This article examines a nongrantor trust and situations in which it might be useful. Nongrantor Trusts Can Be Very Useful in Certain Situations … [Read more...]
Grantor Trusts Provide Flexibility and Ease
A trust may be taxed as either a grantor trust or a nongrantor trust. Each type of trust has advantages and disadvantages. This article examines a grantor trust and situations in which it might be useful. Grantor Trusts Provide Flexibility and Ease … [Read more...]
Turning the Page on 2018 and Looking Forward to 2019
As we turn the page and bid farewell to 2018, we look forward to 2019. This article summarizes the major changes for 2019, both in the tax area and in other areas. Read on to learn more. Turning the Page on 2018 and Looking Forward to 2019 … [Read more...]
Selecting an Agent
Choosing the right Agent under a Power of Attorney is one of the most important choices. This article discusses the qualities of an ideal Agent and qualities to avoid in selecting an Agent. Read on to learn more. Selecting an Agent … [Read more...]
Can Medicaid Take Your IRA?
Estate planning, when done correctly, will accomplish considerably more than just creating a blueprint for the distribution of your assets after you are gone. It will also protect those assets while you are still here as well as after your death. One of the biggest potential threats to your assets is probably one you haven’t considered unless you are already a senior – the cost of long-term care. Those costs may cause you to turn to Medicaid for help paying your long-term care bill. The need to … [Read more...]
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