Asset Protection
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Who needs estate planning?
You should have a plan if you want to make sure you stay in control of your financial and healthcare decision making in the event of your disability. You should also take the time to plan if you want to make sure your wealth goes to who you want, when you want, the way you want. If you have children…Read More
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What is estate planning?
Estate planning should be a life long process of taking steps to provide for you and the people you love. You never know when disability will strike. When most people think of estate planning they think about transferring what they own at their death. Another equally important part of planning is …Read More
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Should you get professional help filing your Medicaid Application?
The answer depends on several variables. What is Medicaid? Medicaid is the needs-based health care benefit for persons who do not have health insurance, or whose insurance does not cover what they need, as in the example of custodial long-term care. Many people also need Medicaid to help pay for cus…Read More
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Alternatives to Disinheriting a Loved One
In many cases a parent disinherits a child not because the parent hates the child but because the parent feels hurt. But, there are alternatives to completely disinheriting a child or other loved one. The alternative depends on the underlying reason for disinheriting the person. Sometimes, fair do…Read More
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End of Life Planning to Provide for the People You Love: Safeguarding Your Assets for Your Family
Creating a Testamentary Special Needs Trust (SNT) is often a good tool to utilize when planning for a spouse or other loved one who may need Medicaid after you are gone. A Testamentary SNT is a trust created in your will. Under Federal Law, money in a properly drafted testamentary trust does not…Read More
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Lessons Learned from James Gandolfini’s Will
No matter how much you have, estate planning is essential. When James Gandolfini, the actor who played mob boss Tony in HBO show “The Sopranos”, died of a heart attack at 51 last month, he left an estate valued at roughly $70 million. Commentators have declared his estate plan a “disaster” b…Read More
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Facebook Founders Use GRATs to Avoid Excessive Taxation; You Can Too
News sources recently revealed that Facebook founder Mark Zuckerberg—as well as other Facebook top brass—use Grantor Retained Annuity Trusts to protect their assets and investments from excessive taxation. Grantor Retained Annuity Trusts (more commonly called GRATs) are a perfectly legal—and v…Read More
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2012 Could be the Year You Start Your Own Business
Before we move away from the topic of New Year’s resolutions, there’s one more New Year’s Resolution we’d like to address—that of taking control of your destiny and starting your own business. The desire to move away from corporate America and work for oneself is not at all unusual. Unfort…Read More
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The Pros and Cons of a Crummey Trust
If you are looking for a reliable way to leave financial gifts to family members you may find that a Crummey trust is the right estate planning strategy for your family. A recent article in the Wall Street Journal explains that “Crummey trusts are used in many circumstances, but are best suited fo…Read More