In this post we will look at the role of the revocable living trust successor trustee, but we should first explain the value of these trusts. A Few Words About Wills and Probate If you are not extraordinarily wealthy, you may assume that you should use a last will to facilitate future asset transfers. You […]
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How Much Does a Special Needs Trust Cost?
There are numerous different ways to facilitate future asset transfers. The optimal course of action will vary on a case-by-case basis, because each family is unique. With this in mind, we will look at the legal device called the special needs trust in this post, and we will examine the costs involved. Need-Based Government Benefits […]
Can I Be Held Responsible for a Parent’s Nursing Home Bills?
If you are going to be admitting a parent into a nursing home, you may wonder if you could potentially be held responsible for your parent’s nursing home bills. The answer is a resounding maybe. In most cases, you would not be held responsible for your parent’s nursing home bills, but there are exceptions. When […]
What Is an ILIT?
When you are planning your estate you must inventory your assets. Clearly, you want to know exactly what you have to give to your loved ones, but there is an additional motivation. You should be aware of the value of your estate as it compares to the amount of the estate tax exclusion. The proceeds […]
Is There a Medicaid Asset Limit?
When you envision your senior years, you may think about your active retirement years when you will enjoy leisure activities and quality time with your family. This is certainly something to look forward to, but you should also be practical about the challenges that you may face during your twilight years. A high percentage of […]