Estate Planning Articles

You likely worked hard, saved wisely, and invested prudently to acquire the assets you now have. Now, all you need to do is to protect those assets. To accomplish that goal, you need to understand how and why your assets might be at risk as well as learn more about asset protection tools and strategies.

If they had the funds, most people would not think twice about gifting assets to an adult child or loved one. But, that gift could jeopardize Medicaid eligibility. Moreover, you may need that eligibility to help pay for the high price of long-term care for you or a spouse.

Protecting the family fortune requires more than just a basic estate plan. Contemplating the need to qualify for Medicaid to help cover the high cost of long-term care should be an integral part of any comprehensive estate plan. One frequently used Medicaid planning tool that can protect your assets from the Medicaid spend-down requirement is an Irrevocable Income Only Trust.

Terri Schiavo spent over ten years in a persistent vegetative state following a heart attack. During that time, her husband and parents waged an emotionally and financially draining legal battle that made it all the way to the President’s desk. It all could have been avoided had Terri executed an advance directive prior to her collapse back in 1990.

Joint tenancy is a popular form of property ownership, primarily because when one owner dies, title to the property automatically re-vests in the surviving joint tenants. But using joint tenancy to avoid probate can create more problems than it solves.

Your home is likely your family’s most valuable asset, not only emotionally, but also financially. Read this article to learn how you can take advantage of the tax, estate planning, and asset protection benefits available to you as a homeowner.

Owning assets outside the United States raises a number of estate planning questions: Who gets your property when you pass away? What taxes are due? And how should your estate plan in the U.S. be tailored to ensure that all your property – here and abroad – is transferred as efficiently and effectively as possible?

Most estate plans can benefit from the addition of a Medicaid planning component that helps ensure eligibility for Medicaid to help cover the high cost of long-term care (LTC) in the future. One of the many tools in the Medicaid planning arsenal is compensation paid as part of a personal services contract.

Not long ago, women rarely took much interest in estate planning for several reasons. Today, however, the need for estate planning is even greater if you are a woman. Debunking some of the common myths surrounding the concept of women and estate planning is a good place to start.

Most people won’t be familiar with legal terminology if it’s their first time considering a visit to an estate planning attorney. Before a consultation, review this short list of common estate planning terms to help you prepare and feel more comfortable as you begin to create your plan.