It is important to choose the right estate planning device for each person on your inheritance list. There are many different tools in the estate planning toolkit, and so you should discuss your options with a licensed estate planning attorney if you are not sure how to proceed. With this in mind, let’s look at … [Read More]
Address Possible Estate Challenges
When a last will is used to transfer assets, the process of probate will be a major factor. In a will, you would name an executor, and this individual would act as the estate administrator. They would be required to admit the will to probate, and the court would provide supervision. The probate court is … [Read More]
Five Key Facts About Probate
Probate is the legal process of estate administration. If you use a will, you would name an executor to carry out your final wishes, and the probate court would provide supervision. This court would also be involved if you were to pass away without any estate planning documents at all. In some instances, a child … [Read More]
An Irrevocable Trust Can Satisfy These Three Objectives
When you learn that there are revocable trusts and trusts that you cannot revoke, you may wonder why you would sacrifice the flexibility. This makes sense on the surface, but there are some good reasons why this can be beneficial. In legal parlance, you surrender incidents of ownership when you establish an irrevocable trust, because … [Read More]
Buy-Sell Agreements for Small Business Succession
One of the reasons why it is wise to connect with an estate planning attorney is because solutions exist to address situations. A lot of people think that they have to somehow twist their objectives around some limited device like a simple will, but this is not the case. With this in mind, let’s take … [Read More]
Don’t Let the State Plan Your Estate
The vast majority of people do not have estate plans in place, and strangely enough, this includes people that are between 35 and 55 years of age. Most of the same folks have financial plans and they would tell you that their families are more important to them than anything. At the same time, they … [Read More]
Estate Planning Simplified
Studies are conducted on an annual basis to gauge the estate planning preparedness of American adults. Though passing away is one of the two certainties of life as the saying goes, the vast majority of people in our country are going through life without any type of estate planning documents at all. There are different … [Read More]
Inheritance Tax vs. Estate Tax: Is There a Difference?
People are often confused about the way that inheritances can be taxed. If you have heard the terms “estate tax” and “inheritance tax,” you may assume these are two different ways of describing the same thing. There are also those that think that the terms refer to the requirement to report inheritances as income when … [Read More]
Consider an Incentive Trust
There are many different legal devices that can be used when you are planning your estate. You never have to settle for an approach that is less than ideal, because there is a solution that can be implemented to address any concern. With this in mind, we will look at the incentive trust in this … [Read More]
Medicaid Protections for the Healthy Spouse
As elder law attorneys, we assist people that have concerns about long-term care. Since Medicare will not pay for the custodial care that nursing homes, assisted living facilities, and in-home caregivers provide, steps must be taken to qualify for Medicaid. A lot of people wonder why Medicare would not cover this type of care if … [Read More]
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