What Is the Best Way to Make Sure a Trustee Follows the Trust Rules?
We are getting ready to draft a trust. We have one son, so he will be the trustee. What is the best way to make sure he fo...
Read moreGifting assets to your grandchildren can do more than help your descendants 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.
Perhaps the simplest approach to gifting is to give the grandchild an outright gift. You may give each grandchild up to $14,000 a year (in 2014) without having to report the gifts. The problem with an outright gift is that you have no way of making sure the money is spent the way you would want it spent.
Local Elder Law Attorneys in Your City
The following are some other ways you can give to grandchildren:
For details on these gift vehicles, click here.
We are getting ready to draft a trust. We have one son, so he will be the trustee. What is the best way to make sure he fo...
Read more
My parents are getting older and they want to make sure their home is not taken from them if they should end up in a...
Read more
You may be afraid of losing your home if you have to enter a nursing home and apply for Medicaid. While this fear is well-...
Read moreMedicaid Rules, etc