Leaving Assets Can Be Tricky – Part 3
A Special Needs Trust is tailored to help a beneficiary with special needs receive an inheritance without jeopardizing their current or future public needs-tested benefits, such as Medicaid or Supplemental Security Income (“SSI”).
Leaving Assets Can Be Tricky – Part 2
The second way which is the topic in this article is a fully discretionary trust, often called an “Asset Protection” Trust or a “Sentry” Trust.
Leaving Assets Can Be Tricky
Maybe you grew up without much. You worked hard. You earned a good education. You succeeded in life even though the streets weren’t paved with gold where you grew up. Maybe you even grew up in a very impoverished, oppressed community.
Young Adult Estate Planning
We here at Ergood Law feel that it is important to have the right protection in place so you can always help your child.
Beneficiary Designations and Other Non-Probate Transfers
Beneficiary designations and other non-probate transfers are an often-overlooked part of estate planning. They are overlooked by clients and sometimes even by professionals.
Planning for the Sandwich Generation
People are living longer and are having children later in life. Due to this combination of demographic factors, many more people are in the “Sandwich Generation.”
Whom Do You Want to Get Your Assets?
It’s important to consider whom you’d want to get your assets when you die. Most of us have an idea of whom we’d choose. But, it’s also important to consider who should get those assets if your preferred recipient isn’t around.
Reasons an Estate Plan Could Be Challenged
Estate Planning is critical to making sure your wishes are carried out. This series focuses on how an Estate Plan could be challenged. This series will show the importance of doing Estate Planning in the right way. The first article in the series looked at formal requirements. This second article focuses on undue influence.
Make Your Own Plan
Some people plan their estates carefully. Some people don’t have an estate plan at all. That’s called dying intestate. In that situation, the state in which they live at their death has a default plan for them which determines who gets their assets. The state’s plan might suit them, or it might not suit them at all.
The Little Things May be the Most Important
Often, the smallest things have the most sentimental value. Your grandmother’s silverware or your grandfather’s railroad watch could connect you to them in a special way. Your mother’s ring or your father’s Boyscout bugle could hold a special place in your heart.
Choosing The Right Agent
Written by Attorneys for the American Academy of Estate Planning Attorneys A Secret Agent may be very important to protecting the nation. Your Agent is just as important for your protection. An Agent is the person who makes financial decisions for you under a Financial Power of Attorney or makes medical decisions for you under […]
Estate Planning is About More Than Taxes
Article written by the American Academy of Estate Planning Attorneys The new tax law doubled the amount that can be passed free of federal estate taxation, at least through 2025. In 2018, an individual can pass $11.18 million free from federal estate taxation. But, estate planning was never just about estate taxation. The core of estate planning has […]
Estate Planning is for You, Not Just Your Parents or Grandparents
Often, people think estate planning is just for those who are elderly. While the elderly certainly need estate planning, estate planning is for anyone who cares what happens to them, their stuff, or their family.
The Benefits of Trusts
There are many good reasons to use trusts. Trusts avoid the probate process, which is a public process to change title of assets from the deceased person to the new recipient. Trusts may be helpful in tax planning. Specialized irrevocable trusts may be helpful in qualifying for Medicaid.
Estate Planning: It’s Not Just About the Estate Taxes
[vc_row][vc_column][vc_column_text css=”.vc_custom_1532706005220{margin-bottom: 0px !important;}”]This article by the American Academy of Estate Planning Attorneys outlines other very important estate planning considerations. July 25, 2018 When we plan our lives and our estates, it’s not all about the estate taxes. Of course, estate taxes should be taken into consideration, but there are many more important factors. That’s […]
