If you would like to free yourself and your children from high estate taxes, a Qualified Personal Residence Trust (QPRT) can help. Once established, this trust will help you “freeze” the value of your residence and reduce the gift tax incurred when transferring your assets to your children.
Read MoreAs estate-protection tools, trusts have a reputation for being less flexible than simple bank accounts. While this is by and large true, Totten trusts are essentially bank accounts with a named beneficiary.
Read MoreIf you are looking for an effective way to reduce or eliminate estate taxes while keeping all the death benefits from your life insurance policies, this trust may be the right choice for you.
Read MoreIf you are leaving money behind for heirs who are new to managing money or have a hard time controlling their spending, you should look into spendthrift trusts.
Read MoreBy utilizing a generation-skipping trust, you are “skipping” one round of the inheritance tax, which can be a very significant benefit depending on the size of your estate.
Read MoreFor altruistic and financially savvy individuals with nonessential assets (such as stocks or real estate), a Charitable Trust could offer tax incentives and several financial benefits for you, your beneficiaries, and a charity of your choice.
Read MoreHigh income earners may not find it necessary to qualify for benefits, while low income earners have no reason to worry about their eligbility. However, those who earn a little too much to qualify, but are close, should consider using one of these two trusts to become eligible.
Read MoreMaking sure you are setting up the right financial plan for your spouse, family, and legacy is one of the primary concerns in end-of-life planning. We’d like to cover which trust arrangement works best for married couples.
Read MoreFor all humans to feel secure in the knowledge that they will be able to die in a compassionate manner, it is important that we define, and defend, “end-of-life rights.”
Read MoreIt is crucial that pets get necessary treatment and care in the event of an owner’s hospitalization or death. To promote the safety and well being of pets during these unfortunate events, the establishment of a pet trust is a must.
Read MoreAs you plan for end of life and complete post death tasks, you will likely need to work with an attorney at some point, either in elder law, estate planning and probate, or even medical malpractice. Here are some practical considerations to keep in mind while searching for the right lawyer.
Read MoreEstablishing advance care planning is essential to guarantee that providers and loved ones administer end-of-life care that is consistent with your preferences and values.
Read MoreIn the medical setting, a healthcare proxy (HCP) is an agent that a patient can appoint to make healthcare decisions on their behalf.
Read MoreHow do you know if you or your loved one are covered for COVID-19 health issues in your employer’s workers’ compensation policy? Find out here.
Read MoreSkilled nursing is high-level medical care that can only be provided by a licensed clinician or therapist at a patient’s home or in a facility.
Read MoreDeciding which long-term care services are best suited for us depends on having a knowledge of those services, as well as a willingness and ability to pay for them.
Read MoreWhether someone is looking to move in the near term or researching options ahead of time, they can find an overview of types of long-term care facilities, as well as factors to consider in choosing them, here.
Read MoreThis piece aims to demystify living trusts and examine both their advantages and their disadvantages.
Read MoreIf a family member is diagnosed with Alzheimer’s disease, end-of-life preparations become all the more important, serving as a guide for one’s preferences and a voice of reason down the road.
Read MoreMany individuals who need long-term care services may face the dilemma of having too much income and/or assets to qualify for Medicaid. However, they may also run out of money trying to pay for the services out of pocket.
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