While you are eligible to apply for Medicare when you are 65, there are circumstances where you might not want to, particular...Read more
You Can't Take It With You, So How Will You Leave it Behind?
- December 21st, 2007
Steve Allen. You Can't Take It With You, So How Will You Leave it Behind? 2007. Legal Awareness Series, Inc. 264 Pages.
$27.95. Click on book to order.
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Felinton Elder Law & Estate Planning Centers
Mindy Felinton concentrates in the areas of Medicaid planning, Veterans' Benefits, asset protection, nursing home planning, elder law, wills, estate planning, trusts, living wills, powers of attorney, probate administration and trust administration and began her legal career 30 years ago as an Assistant State Attorney...
The Law Firm of Evan H. Farr, P.C.
In practice since 1987, Fairfax Attorney Evan Farr is widely recognized as one of the leading Elder Law, Estate Planning, and Specials Needs attorneys in Virginia and one of foremost experts in the Country in the field of Medicaid Asset Protection and related Trusts. Evan Farr has been quoted or cited as an expert by n...
Law Offices of John L. Laster
John Laster is a lawyer licensed to practice in Virginia, Maryland and the District of Columbia. He limits his practice to wealth transfer planning, trusts, wills, powers of attorney, health care decision-making issues, estate administration and related tax, elder law and disability concerns. Listed in The Best Lawyers...
In You Can't Take It With You, estate planning attorney Steve Allen advocates using a revocable living trust as the foundation of your estate plan. Extremely easy to read, with entertaining anecdotes, the book provides a strong case for not procrastinating in setting up an estate plan.
The book provides an overview of the probate process and the reasons to try to avoid probate. According to Allen, a revocable living trust can help you avoid probate, keep your estate private, paying lower taxes, and steer clear of problems with joint tenancy, among other things. He provides case studies of how to use a trust and gives advice on how to find the right attorney to help you set up the trust. But readers should be aware that the probate process and costs can vary dramatically from state to state, so probate avoidance is not necessarily beneficial in all situations. Consult an elder law or estate planning attorney to determine whether a revocable living trust is appropriate in your situation.
Allen also explains various methods for protecting assets from creditors or judgments, including a family limited partnership, asset protection trust, and a Medicaid annuity. In addition, he discusses protecting business assets, including special recommendations for doctors and other licensed professionals.
Each chapter concludes with action items and the final chapter is an action list to get you started. In addition, you can go to Allen's Web site to download checklists and forms.
Last Modified: 12/21/2007