What Is a Spendthrift Trust?
There are so many different kinds of people in our lives that we care about and want to provide for. Do you have a loved one with whom you want to provide financial support, but worry about where this support will end up? From creditor issues to poor money management skills, it can be...
What Is a Spendthrift Trust? Continue reading…
What Is a Third Party Special Needs Trust?
Do you have a loved one with special needs? If so, he or she may be receiving needs-based government benefits such as Medicaid or Social Security to help cover essential and basic costs. While these government benefits can act as a critical financial resource for many, they do not cover much more than the...
What Is a Third Party Special Needs Trust? Continue reading…
A Prenuptial Agreement as an Estate Planning Document
Prenuptial agreements, or “prenups,” seem to have developed a bad reputation over the years. Allegations of dooming a marriage or preparing for a divorce before the marriage has even begun have become intertwined with the concept of a prenup. A prenuptial agreement, however, can be an extremely valuable legal tool. While there may be...
A Prenuptial Agreement as an Estate Planning Document Continue reading…
What Does Special Needs Mean?
You may have heard the term “special needs” in a variety of contexts. You may have even heard of special needs in the estate planning context. This is because there are several critical aspects of estate planning that should be addressed when planning for a person or a loved one with special needs....
What Does Special Needs Mean? Continue reading…
What Is the Portability of the Estate Tax Exemption?
If you have a rather sizeable estate, it can be incredibly important to consider all of your estate planning options as the federal estate tax can take a large chunk of your estate’s value away from your heirs. The federal estate tax exemption will allow you to avoid some taxation as the exemption...
What Is the Portability of the Estate Tax Exemption? Continue reading…
What Are the Eligibility Requirements for Medicaid in North Carolina?
Many people may not think about Medicaid benefits until they actually need them. Medicaid provides critical benefits to individuals in need throughout the U.S. A program administered at the state level, Medicaid is health insurance provided to people who have demonstrated the inability to afford medical care payments in full or in part....
What Are the Eligibility Requirements for Medicaid in North Carolina? Continue reading…
Can Adult Children Be On the Hook for Their Parents’ Long Term Care Bills?
The costs of long-term care in the United States are hitting all-time highs. While the majority of us will require some type of long-term care, whether it be in-home care or nursing home care, the costs can be devastating. Any savings can be quickly eaten up by long-term care bills. With proper planning,...
Can Adult Children Be On the Hook for Their Parents’ Long Term Care Bills? Continue reading…
What Are the Different Types of Trusts?
Trusts are often the less recognized and discussed aspect of estate planning. This is unfortunate because trusts can accomplish many things when properly utilized and implemented. A trust can help you avoid the costs and delays of probate. A trust can also have significant tax benefits as well as helping you secure the...
What Are the Different Types of Trusts? Continue reading…
What Can You Accomplish with a Will?
A Last Will and Testament, simply referred to as a “will,” is probably one of the most notable estate planning tools. Most people know the basics of a will and think of it only in terms as a way to tell everyone else who you want your property to go to after you...
What Can You Accomplish with a Will? Continue reading…
How Are Revocable Trusts Taxed?
During the estate planning process, the benefits, as well as the importance of various legal tools, are discussed. The potential advantages of having different types of trust arrangements is also evaluated. Revocable trusts, for example, are often included in estate plans as a means of avoiding the probate process for the assets...
How Are Revocable Trusts Taxed? Continue reading…