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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Your wishes in words
During the estate planning process, your attorney will draft a number of legal documents such as a will, trust and power of attorney which will help you accomplish your goals. While these legal documents are required for effective planning, they may...
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When will I receive my inheritance?
If you’ve been named a beneficiary in a loved one’s estate plan, you’ve likely wondered how long it will take to receive your share of the inheritance after his or her passing. Unfortunately, there’s no hard or and fast rule that...
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A Living Will or Health Care Power of Attorney?
A Living Will or Health Care Power of Attorney? Or Do I Need Both?
Many people are confused by these two important estate planning documents. It’s important to understand the functions of each and ensure you are fully protected by incorporating both of...
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Utilizing Family Limited Partnerships
Utilizing Family Limited Partnerships as Part of Your Estate Plan
Designed to preserve family businesses for future generations, Family Limited Partnerships (FLPs) and Family Limited Liability Companies (FLLCs) can help shelter your assets and reduce overall estate and gift taxes. FLPs...
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Issues to Consider When Setting Up Your Estate Plan
Important Issues to Consider When Setting Up Your Estate Plan
Often estate planning focuses on the “big picture” issues, such as who gets what, whether a living trust should be created to avoid probate and tax planning to minimize gift and estate taxes....
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Veterans’ Non-Service Connected Pension Benefits
Veterans’ Non-Service Connected Pension Benefits
The Veterans’ Administration’s non-service connected pension program can help supplement the income of elderly or disabled veterans. The VA deems any veteran age 65 or older to be permanently and totally disabled. This “disabled” classification entitles senior citizens...
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