Deed Ownership to Avoid Probate
Do you know how your home is owned and what the legal consequences are? Many people do not realize the impact that the title of your home ownership has on ownership.
What is My Trust Tax Identification Number (EIN)?
A trust identification number is essential for identifying a trust as a legal entity for tax purposes. Whether you’re establishing a revocable or irrevocable estate planning trust, having the correct trust identification number is crucial to properly manage your assets…
The Types of Trusts – Which one is best for you?
You have heard many people refer to trust as a great planning tool for your estate. It provides opportunities for so many different things, such as long-term care planning, tax planning, and probate avoidance. While you consider meeting with an…
The 5 Benefits of an Irrevocable Trust
“I want to transfer my home/money/assets to my children so that Medicaid can’t get it if I need to go into a nursing home.” As elder law and estate planning attorneys, we hear this every day. But did you know…
Surviving the SECURE Act – Charitable Remainder Trusts
A Charitable Remainder Trust (CRT) is an irrevocable trust that allows a person to donate money to a charity while generating an income for either the donor or other beneficiaries with the remainder of the donated assets going to a…
Understanding Long-Term Care: How to Protect Your Home
In my experience (Deanna M. Eble, Esq.), one of the biggest concerns for clients, especially seniors, is that they do not want to lose their home to long-term care costs. An Example Recently I met with Sal. He has two…
What is the Difference Between Revocable and Irrevocable Trusts?
A trust is established by people looking to maintain control of their assets while avoiding the probate process, which is the process by which a family takes the decedent’s will to court. As part of probate, the court reviews the…
Should You Have a Living Trust? Exploring the Benefits
Many clients frequently come to me and ask if they should have a trust. Sometimes they are not even sure what a trust is and, more often than not, they do not understand how a trust works.
Although my mother always told me to never answer a question with a question (sorry mom!), my initial response is a question – what are you looking to accomplish by having a trust?