Trusts can shield your assets from the high cost of home care making you eligible for home health aides through the Medicaid program. Trusts start the five year “look-back” for institutional care, making you eligible for Medicaid benefits to pay for a nursing home. Trusts can ensure the inheritances you…
In the fall of 1990, some thirty plus years ago, your writer first heard of the proposition that if you set up a living trust your estate doesn’t have to go to court to settle – the so-called probate court proceeding for wills. Having spent the previous eleven years as…
Many people are curious about what happens after they are no longer able to manage their assets. Many chances are created when it comes to estate planning arrangements and trusts play a large role in estate planning. If you choose wisely, trusts fortunately can prove to be an excellent way…
Imagine you’ve finally met with your attorney to establish an estate plan and are now considering whether to establish a trust. Or a situation where you already have an estate plan that includes a revocable trust. In today’s world of estate planning, revocable trusts have proven to be a common…
Estate planning varies substantially between individuals and is influenced greatly by a person’s goals. Each individual also has a unique situation as well as a background to consider. Two individuals with similar kinds of assets are worried about protecting property from future elderly care centers that might sound like they…
When Stephen Sondheim recently passed away, he passed on all rights associated with his theatrical work including several well-known musicals including several unfinished pieces to a trust, which will be tasked with managing his estate. The Sondheim trust now will assess the future of the well-known artist’s intellectual works in…
Even if you’ve already abandoned your New Years’ resolution, you should still do your best this year to focus on your loved ones and what’s best for your future. One of the best things that any of us can do during times of uneasy political or economic times is to…
You might have considered utilizing a living trust. Often, these trusts are a good idea if a person wants to maintain assets for loved ones without subjecting assets to significant taxes or probate. In reality, however, people often forget a whole range of other types of trusts including revocable and…
The 1988 film Rain Man was directed by Barry Levinson and is cited by many people as a favorite film. Rain Man tells the story of Charles Babbitt (Tom Cruise) who finds out that his estranged father has passed away and left all of his large estate and its associated…