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]
IRAs and Estate Planning
An individual retirement account can provide an underpinning during your senior years. However, if it turns out that you that you don’t need the money, your IRA will be part of your estate plan. And of course, you may intentionally use the account for estate planning purposes. There are a lot of questions being asked … [Read More]
Leaving Assets Can Be Tricky – Part 3
Leaving assets to your adult children or other beneficiaries may seem simple. But in many situations, it can be quite tricky. For example, if you have a beneficiary with special needs, you must take special care. Read on to learn more. [Read More]
Leaving Assets Can Be Tricky – Part 2
Leaving assets to your adult children or other beneficiaries may seem simple. But in many situations, it can be quite tricky. Read on to learn more. [Read More]
Leaving Assets Can Be Tricky – Part 1
Leaving assets to your adult children or other beneficiaries may seem simple. But in many situations, it can be quite tricky.Read on to learn more. [Read More]
Assignment and Nominee
What’s an “Assignment and Nominee” agreement and what does it do? Some attorneys use such an agreement as a belt and suspenders approach to funding.Read on to learn more. [Read More]
Can a Married Couple Use a Shared Living Trust?
A living trust is a very effective tool for a wide range of people. One of the major advantages is the streamlined estate administration process that these trusts provide. The trustee that will administer the trust steps into a turnkey situation, because the trust is the owner of the property. Another benefit is the avoidance … [Read More]
Estate Plan Revisions May Be Necessary
Estate planning should not be viewed as a one and done affair. When you put an original estate plan in place, it will be based on a snapshot of your life at that time. The only constant is change, so it is very likely that your plan will need to be revised over the years. … [Read More]
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