Estate planning is one of those things that no family should ever be without. For many LGBT couples, however, estate planning has long been a complicated and difficult thing to manage. Before states began to recognize same-sex marriages, many same-sex couples found that each partner was deemed a separate tax entity for all matters related to taxation. They were also denied the legal protections enjoyed by married couples, which left them in a position in which they were unable to take advantage … [Read more...] about Do You Have the LGBT Estate Planning You Need?
Blog
The Value of an Experienced Estate Planning Attorney
You’ve no doubt heard and read all the arguments in favor of estate planning. Most of those arguments are based on sound reasoning and simple common sense truths. We all eventually die, and our estates pass on to our loved ones. Without a formal estate plan, the disposition of those estates will be determined not by our express wishes, but by the cold letter of the state’s intestacy laws. To properly care for your loved ones, you need an estate plan. The question is, though, do you need an … [Read more...] about The Value of an Experienced Estate Planning Attorney
Making the Most of Your Revocable Living Trust
Trusts can be one of the best ways to distribute your assets after death, as millions of Americans have discovered over the last several decades. Sure, the Last Will and Testament remains a popular choice for those with relatively simple estates, but even many of those individuals could benefit from the advantages that only a trust can provide. As for those with more complex estates, the trust is something that the almost cannot do without. Of course, it’s not enough to just create a trust to … [Read more...] about Making the Most of Your Revocable Living Trust
Four Important Facts About the Gift Tax Limit
If there’s an area of taxation that’s more misunderstood than the gift tax, you’d be hard-pressed to find it. The fact is that myths and misconceptions about this tax and its limits are more common than most people would ever guess. There are still untold millions of American who confidently assume that they’re free to just give away as much of their property as they’d like without ever confronting any tax issues. That misconception, and others, can create problems that can be difficult to … [Read more...] about Four Important Facts About the Gift Tax Limit
Critics Balk at Plan for Poor to Pay Any Amount for Medicaid Coverage
If that headline seems unlikely, rest assured that it’s true. Articles are already popping up around the internet, focusing on the selection of Dr. Tom Price to serve as President Donald Trump’s new Secretary of Health and Human Services. Price, a long-time critic of former President Obama’s Affordable Care Act, has had a great deal of praise for the Healthy Indiana Plan 2.0 that was signed into law by then-Governor Mike Pence – the man who now serves as the Vice-President of the United States. … [Read more...] about Critics Balk at Plan for Poor to Pay Any Amount for Medicaid Coverage
Why Contesting a Will is More Difficult Than You Might Think
Have you recently had a loved one pass away, and discovered that he or she left you no inheritance or less than you had been expecting? Do you have reason to believe that someone convinced your loved one to change the will to cut down on your inheritance – or exclude you altogether? Have you been thinking about challenging the will to get your fair share of the estate? If so, you certainly wouldn’t be the first person in history to contemplate such a thing. It’s important for you to know, … [Read more...] about Why Contesting a Will is More Difficult Than You Might Think
Emergency Medicaid Strategies for Late-Planners
The most recent estimates on long-term care needs suggest that your odds of spending time in a nursing home at some point in the future may as well be decided by a coin-flip. In fact, about half of us will find ourselves in need of that care before we die. Since nursing home costs continue to rise with each passing year, paying for that care is something that should concern each of us. Medicaid can help, but many people often neglect the planning needed to ensure that they’re eligible for those … [Read more...] about Emergency Medicaid Strategies for Late-Planners
Learn How the Annual Gift Tax Exclusion Can Impact Your Planning
Much has been written and said about wills, trusts, and other estate planning tools and strategies for distributing assets to heirs. And yet there will always be those among us who prefer a different approach to bequests. If you’ve been thinking about giving your heirs their inheritance while you’re still alive to see them enjoy it, then you’re not alone. Many Americans choose that option, and for a variety of different reasons. Before you make any serious plans to give your estate away to your … [Read more...] about Learn How the Annual Gift Tax Exclusion Can Impact Your Planning
What is a Revocable Trust and How Can It Benefit Your Estate Plan?
When it comes to estate planning, there seems to be three groups of people. The first group includes all those people who have no estate plan in place. Unfortunately, they represent a majority of American adults right now. The second group includes those whose estate plan is focused on a simple will and perhaps a power of attorney or advance directive for health care. The third group – and by far the smallest – consists of those Americans who have an estate plan that includes some type of living … [Read more...] about What is a Revocable Trust and How Can It Benefit Your Estate Plan?
When is an Irrevocable Trust Right for You?
It’s not uncommon for people who’ve been told that they need a trust to immediately focus their attention on a revocable trust. In some cases, it’s just because they’re unaware that other trusts exist. In other instances, they’ve heard of irrevocable trusts but are more than a little leery about giving up total control over trust assets forever. While that concern is certainly valid, the fact is that there are times when an irrevocable trust is really the best way to accomplish certain goals. Of … [Read more...] about When is an Irrevocable Trust Right for You?
