Estate Planning

A life estate often comes up in discussions of estate and Medicaid planning. It is a form of joint ownership that allows one person to remain in a house until their death when it passes to the other owner.

Medicaid 101

Gifting assets to your grandchildren can help them get a good start in life — it can also reduce the size of your estate and the tax that will be due upon your death. You can accomplish this in different...

Elderlaw 101

There are some serious drawbacks to many options for giving gifts to grandchildren. Either there are no tax or estate planning advantages, or you have no control of the funds (or lose control after a certain point), or the money...

Elderlaw 101

Many people are unaware that there is coverage to help families lay their loved ones to rest. Depending on your state, Medicaid may cover some funeral costs and other final expenses.

Medicaid 101

Congress sets the amount that an individual can transfer tax-free either during life or at death. The current estate tax exemption is so high that very few estates will have to pay an estate tax. ...

Elderlaw 101

While joint accounts can be useful in certain circumstances, they can have dire consequences if not used properly. Adding a loved one to a bank account can expose you to their creditors and affect Medicaid planning.

Medicaid 101

A power of attorney is a very important estate planning tool, but in fact there are several different kinds of powers of attorney that can be used for different purposes.

Elderlaw 101

A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a "trustee," holds legal title to property for another person, called a "beneficiary." There are many benefits to creating...

Elderlaw 101

There are a number of different kinds of trusts, but they fall into two basic categories: testamentary and inter vivos. One goes into effect while you’re alive and the other only after death. Which do you need?...

Elderlaw 101