As you get older, one thing you may want to start doing is planning for Medicaid. Medicaid is helpful for paying the cost of nursing home care and other medical treatments, but you do need to qualify. In order to qualify for Medicaid, you need to have minimal assets...
You probably have plans on how your estate should be distributed to your loved ones after you are gone. However, you should not limit your estate plans to just a will. It could end up negatively affecting your beneficiaries and the estate at large. A trust is one of...
A trust is a powerful tool and a smart thing to include in your estate plan. However, there are limitations. For example, the trust will only be as good as the trustee you choose to administer it. The trustee you choose has complete control of the assets you put in a...
The person you choose to serve as trustee plays an important role in the trust that you establish. They ultimately have control over the assets you use to fund the trust and have to handle the investments or maintenance of those assets for your beneficiaries. Many...
You have an adult child with special needs, and you’ve been told that the best thing you can do for their future is to create a special needs trust. That way, your child can benefit from the inheritance you want to give them. Special needs trusts are designed in a way...
As the name implies, a trustee occupies a position of trust and authority. They have a duty to the trust itself and its beneficiaries. Typically, the person who creates a trust will name a trustee whom they think is capable of managing the trust. Usually, the person...
You’ve got a tight-knit family and you’ve always taken care of your own, so the whole idea of asking a stranger to manage your disabled adult child’s special needs trust makes you wildly uncomfortable. Just the same, it may be far wiser to go with a professional...
Serving as legal guardian of another adult is sometimes necessary to ensure their safety and well-being. It is also a big responsibility, one that requires time, patience and a good heart. This commitment may pull you away from your normal life, including potentially...
Prior to the 2017 Tax Cuts And Jobs Act (TCJA) these administrative expenses generally fell into the miscellaneous itemized deduction bucket. The TCJA suspended miscellaneous deductions until Jan. 1, 2026. This had created uncertainty about whether an estate, a...
It’s not that often that football and estate planning are in the same sentence. But wealthy families are the owners of many of the National Football League teams. With this come succession issues as many owners enter their 80s and 90s. Denver Broncos ownership was one...
