Probate – FAQs
Losing a loved one is incredibly difficult. Emotions are high and the last thing you want to do is handle your loved one’s estate. Unfortunately, sometimes the probate can’t be avoided. So, what do you need to know about a…
Special Needs Planning for your Child
If your child has special needs, there are so many things to think about. Between getting the child help right now and thinking about what happens when they turn 18 and you no longer have the legal authority to make…
Power of Attorney versus Guardianship
Have you ever been concerned about an aging parent who seems to be making “bad” decisions? Or, have you thought about who will look after you should something tragic happen and you become incapacitated? These are difficult scenarios to think…
How Does a Pooled Income Trust Work?
Does your parent need home care, but you just don’t know how you’re going to afford it? Many options exist and determining which financial strategy is best for your loved ones can be hard to decipher. However, one option that…
Unlocking the Benefits: How the Capital Gains Exclusion Works
Recently I received a telephone call from a client looking to sell their home. The home had been transferred to a trust years earlier and they wanted to know if they would qualify for the $250,000 (per resident owner) capital…
SSI And The “Able” Account
Kelly is 24 years old. She is on the autism spectrum and is receiving SSI. She is doing her best to be independent, but the monthly stipend is limited and it is difficult to live on her own with minimal…
Supplemental Needs Trust: Protecting Government Benefits
Recently I received a call from a long-time client in a complete panic. She had been talking to her friend about the planning that they each implemented and the friend insisted that the client established the wrong trust for her…
Can I Fight a Nursing Home Discharge?
It can be extremely upsetting to be told by a nursing home that your loved one must leave. Unfortunately, sometimes a nursing home will have an ulterior or nefarious reason to want to discharge a resident from the facility. Perhaps…
Do I Need a Power of Attorney?
YES, YES, YES! If you are over the age of 18 (and chances are if you’re reading this you are), you should have a power of attorney. Unless you would rather leave it up to a judge. A power of…
Federal Estate Tax: Inclusion of Lifetime Gifts
The answer to the question “Are gifts made during my lifetime includible in my estate for estate tax purposes?” depends on several factors. Federal For purposes of the Federal Estate Tax, yes, any taxable gifts you make during your lifetime…