Creating a trust as part of your estate plan could have many benefits. But those benefits can be completely missed if you don’t title your assets properly and they don’t end up in the trust! A crucial aspect of trust planning that cannot be overlooked is funding your trust. Establishing a trust can have a … Read More
Do you have an LLC or Corp.? Deadline Approaching: Corporate Transparency Act of 2024
The deadline for companies existing before 2024 have until the end of the year to get in compliance with their obligations under the Corporate Transparency Act. The federal law, known as The Corporate Transparency Act, was enacted in 2021 and went into effect as of January 1, 2024. Many companies active in the United States … Read More
The Medicaid Inheritance Dilemma: When a Windfall Becomes a Pitfall
For most people, receiving an inheritance is something to celebrate. However, for a nursing home resident on Medicaid, an inheritance may not be such welcome news. What Is Medicaid? Medicaid is a public assistance health insurance program for people who have limited means. For many older adults, or individuals with disabilities, Medicaid often serves to … Read More
Don’t Unstaple Your Will!
In estate planning, details are crucial. The seemingly innocent act of removing staples from a valid, properly executed will could lead to unintended and potentially catastrophic consequences. Let’s explore why an unstapled will might cause serious complications. What Is Your Will Used For and How Do Your Wishes Go Into Effect? A will is a … Read More
Is Divorce a Viable Strategy to Protect Assets from Medicaid Long-Term Care Costs?
As the costs of long-term care continue to rise, many couples find themselves grappling with how to protect their assets while still qualifying for Medicaid assistance. One strategy that sometimes comes up in these discussions is divorce. But is ending a marriage truly a good way to shield assets from Medicaid spend-down requirements? Let’s explore … Read More
Beyond the Dorm Room: Essential Legal Documents for Your College-Bound Child
As your child prepares to embark on their college journey, there’s an important aspect of their transition to adulthood that often goes overlooked: estate planning. While it may seem premature to consider such matters for a young adult, having certain documents in place can provide crucial protection and peace of mind for both you and … Read More
No, A Will Does Not Avoid Probate.
A common misconception is that a last will and testament avoids the probate process altogether. This is not the case. The reality is that a will must go through probate after someone’s passing for any assets remaining in their name, without a joint owner or beneficiary designation. However, having a properly drafted will in place … Read More
Gifting Money to Grandkids: How It Impacts Medicaid Eligibility
If you’re looking to help out your grandchildren financially, or simply wish to be generous, you may be wondering how gifting money could affect your eligibility for Medicaid long-term care benefits down the road. The short answer is that gifting can make you ineligible for Medicaid for a period of time due to the program’s … Read More
