Life Insurance and Medicaid Planning
Many people purchase a life insurance policy as a way to ensure that their dependents are protected upon their passing. Generally speaking, there are two basic types of life insurance policies: term life and whole life insurance. With a term policy,...
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When to Involve Adult Children in the Estate Planning Process
Individuals who are beginning the estate planning process may assume it's best to have their adult child(ren) join them in the initial meeting with an estate planning attorney, but this may cause more harm than good.
This issue comes up often in...
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Happy Memorial Day
Happy Memorial Day to all of those who have served past and present. Thank you for your service.
How Certificates of Shares Are Passed Down
Estate Planning: How Certificates of Shares Are Passed Down
How is the funding handled if you decide to use a living trust?
Certificates represent shares of a company. There are generally two types of company shares: those for a publicly traded company, and...
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Monk Law Firm is Growing!
Monk Law Firm, PLLC is excited to announce it's newest addition! Liam Douglas Monk was born on February 27, 2014. Ryan and Michelle are overjoyed. Big Sister Hannah and Big Brother James are over the moon to have a new friend.
*photograph taken by Madison Lane Photography, LLC
“Funding the Trust”
What Does the Term "Funding the Trust" Mean in Estate Planning?
If you are about to begin the estate planning process, you have likely heard the term "funding the trust" thrown around a great deal. What does this mean? And what will...
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Paying for Your Grandchildren’s Education
The bond between a grandparent and grandchild is a very special one based on respect, trust and unconditional love. When preparing one’s estate plan, it’s not at all uncommon to find grandparents who want to leave much or all of their...
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What is a Pooled Income Trust and Do I Need One?
What is a Pooled Income Trust and Do I Need One?
A Pooled Income Trust is a special type of trust that allows individuals of any age (typically over 65) to become financially eligible for public assistance benefits (such as Medicaid home care...
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Refusing a Bequest
Most people develop an estate plan as a way to transfer wealth, property and their legacies on to loved ones upon their passing. This transfer, however, isn’t always as seamless as one may assume, even with all of the correct documents...
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Testamentary Trusts vs. Inter Vivos Trusts
The world of estate planning can be complex. If you have just started your research or are in the process of setting up your estate plan, you’ve likely encountered discussions of wills and trusts. While most people have a very basic...
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