There are specialized approaches that can be taken to account for different estate planning circumstances that can present themselves. As estate planning attorneys, we have seen every possible scenario unfold, so we are aware of the mistakes that people make. We also know the best way to address any and all situations, and with this in mind, we are going to pass along four tips about estate planning for parents that are getting remarried. Do not automatically use a simple will to leave … [Read more...] about Blended Family Estate Planning: Food for Thought
QTIP trust
A Trust Can Be Used to Satisfy These Three Objectives (Part 2)
In our last post, we looked at three different scenarios that can be addressed through the utilization of some type of trust, and we promised to provide a follow-up. Let’s look at three more objectives that a trust can effectively satisfy. Special Needs Planning A significant percentage of people with disabilities qualify for Medicaid and Supplemental Security Income (SSI). These are need-based programs, so they are only available to people very limited monetary resources. If you intend to … [Read more...] about A Trust Can Be Used to Satisfy These Three Objectives (Part 2)
What Is a QTIP Trust?
A lot of folks assume that they have to accept certain estate planning limitations, because they do not understand all the tools that are in the toolkit. In reality, there is almost always going to be an ideal reaction to situations that appear to be complicated on the surface. With this in mind, let's look at estate planning for parents that are getting remarried relatively late in their lives. Covering All Bases The best way to explain this estate planning scenario is to use of a simple … [Read more...] about What Is a QTIP Trust?
