Estate Planning Articles
Nirenstein, Horowitz & Associates
Some of these articles have been written by our law firm and other articles are written by the American Academy of Estate Planning Attorneys and compliments of our law firm. Any feedback or questions about the articles can be addressed by contacting our office.
A Nursing Home’s Take on the Need for Medicaid Planning
Nursing homes have historically resisted the concept of Medicaid planning based on the assumption that patients who engaged in Medicaid planning were trying to avoid paying their bills. In recent years, many nursing homes have started to rethink that position as they realize that Medicaid planning is often in their best interest as well as the patient’s.
Medicaid Gifts to Children
Do the Medicaid gifting rules and asset transfer penalties have you confused? If so, you are not alone! Unfortunately, failing to understand the rules and penalties could result in your ineligibility for benefits right when you need them the most. The answers to several common questions may help you gain a better understanding of Medicaid’s rules and penalties.
Gifting to Benefit Minor Children
For most families, especially those with considerable assets, gifting is a great way to reduce their taxable estate while providing even greater benefits for minor children.
Preparing for Your First Estate Planning Consultation
Many people put off estate planning because of the uncertainty of what it means and what it encompasses. It’s not an overwhelming or time-stealing process, though it is crucial for ourselves and our families.
Estate Planning Lessons – Wesley Snipes and the “Pure Trust” Argument
It’s likely we’ve all taken some bad advice at some point in our lives, but when it comes to issues like taxes, bad advice can have very serious legal and financial consequences for you and your loved ones. Seeking an experienced estate planning attorney for legitimate ways to protect your assets and reduce tax obligations is the best way to prevent becoming an unfortunate victim of bad advice, like actor Wesley Snipes.
Passing Down the Family Farm or Ranch
Your farm or ranch has been in your family for generations. Are there obstacles which may prevent a smooth transition of values and assets to the next generation? If so, how can an effective estate plan can help you overcome those obstacles?
Taking Care of Your Spouse After You Are Gone
It is not uncommon that a loved one is being cared for by a spouse close in age, so it is important to ensure they will continue receiving care even after their spouse is gone. An estate planning attorney can advise and assist with taking the necessary step to secure the future of your loved ones, especially those in need of special care and assistance.
Redskins Owner’s Estate Goes Into Overtime – Lessons from Jack Kent Cooke’s Estate
Sometimes, the unusual or unconventional actions of famous people provide more than just fodder for the gossip magazines. In fact, many of us can learn valuable lessons from the public mistakes others make. Such is the case with the estate of Washington Redskins owner Jack Kent Cooke.
Picking up the Pieces After Divorce
Many who go through a divorce are confident the legalities are behind them once they sign their divorce papers. The reality is there are other important legal tasks that can affect your future, including making changes to your estate plan, retirement beneficiary forms and even banking information. As you prepare for the next chapter in life, be sure those chapters you’ve closed won’t affect your happy ending!
How to Lend a Hand and Save Taxes
While you may not be able to physically lend a hand, one of the ways you can help a cause at home or overseas is through gifting. However, choosing to donate to a reputable charity or foundation is just the first decision. Find out more about charitable gift giving, including how to structure your gifts in such a way that not only helps you save taxes but allows you to provide for your loved ones and contribute to a greater cause.