Category Archive: Trusts & Estates

Oct 27

How Does the Medicaid Look-Back Period Work?

Medicaid Look Back Period

One area that causes a lot of confusion with regard to Medicaid is the look-back period. Medicaid, unlike Medicare, is a means-based program, which means that you are only eligible for it if you have very few assets. The government does not want you to transfer all your assets on Monday in order to qualify …

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Jul 20

Preventing a Will Contest When Family Emotions Run High

Emotions can run high at the death of a family member. If a family member is unhappy with the amount they received (or didn’t receive) under a Will, he or she may contest the Will. A Will contest can drag out for years, keeping all the heirs from getting what they are entitled to. It …

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Jul 12

Are Trusts Still Useful If the Estate Tax Is Repealed?

Estate Tax

With Republicans in control of Congress and the presidency, there is talk of eliminating the federal estate tax.  In 2017 the tax affects only estates over $5.49 million, meaning that for more than 99 percent of Americans, it’s already been repealed.  With no estate tax, do you still need a trust? While trusts can be used …

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Dec 22

Lack of a Will Could Mean Chaos for Prince’s Estate

Lack of a Will Impact on Prince's Estate

The famed recording artist Prince died leaving an unknown fortune and possibly no will or estate plan to dictate what to do with that fortune. Prince’s sister, Tyka Nelson, told the probate court in the Minnesota county where Prince lived that her brother did not have a will, which means his estate could be in …

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Mar 21

Medicaid for Millionaires?

Medicaid for Millionaires? Can a millionaire qualify for nursing home Medicaid? Part of the practice of Medicaid planning is to position a client in such a way that the client will financially qualify for Medicaid. At first blush, a client with a large net worth would not meet the financial criteria for Medicaid. But can …

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Sep 10

Advanced Age Marriage- Prenups are not just for divorce

Marriage Later In Life

  Marriage Later in Life Anytime two people get remarried and there are children from a previous marriage there needs to be consideration of how your estate plan will function with your children and your new spouse.  Your estate and assets were built over time with a previous spouse, or on your own with the …

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