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Before we provide an explanation of the Medicaid look-back, we should explain why Medicaid should be on your radar if you are going to qualify for Medicare coverage at the age of 65. It is true that Medicaid and Medicare are both government run health insurance programs. If you qualify for Medicare when you attain… Read more »
When you are planning your estate, passing along resources directly with no strings attached can be perfectly acceptable for some established people on your inheritance list. At the same time, there could be people in the family who could use some guidance. Under these circumstances, you could consider the creation of an incentive trust. With… Read more »
An individual retirement account can provide a valuable nest egg during your senior years. However, under certain circumstances, an IRA can also be useful from an estate planning perspective. Essentially, there are two different types of individual retirement accounts: traditional IRAs, and Roth individual retirement accounts. There are some similarities between them, but there are… Read more »
The Medicaid program will pay for long-term care. You may hear this statement and shrug your shoulders, because you will never qualify for Medicaid, and you will qualify for Medicare by the time you require living assistance. This reaction makes sense on the surface, but when you dig into the facts, you will see a… Read more »
The federal estate tax was established back in 1916. What would you do if you knew that your estate was going to be subject to the estate tax? A logical person would consider lifetime gift giving, and this is exactly what wealthy people did after the estate tax was enacted. Tax minded legislators were not… Read more »
There are those who assume that a ready-made retirement is right there for everyone, because they know that they will qualify for Social Security and Medicare. To qualify for these programs, you have to accumulate at least 40 retirement credits while you are working and paying taxes. The requirement is quite modest, because in 2015,… Read more »
A living trust as an estate planning vehicle that provides a number of different benefits, but this type of trust would not be the ideal choice under certain circumstances. We will look at the details in this blog post. The Benefits In a general sense, a living trust can be a good choice for you… Read more »
Some people seek out an estate planning lawyer not because they want to create an estate plan, but because they want to challenge an estate planning tool or decision by beginning litigation. The litigation process in estate planning is very similar to other forms of litigation in that it involves lawsuits, hearings, and settlement negotiations…. Read more »
If there’s one person who is least likely to step into an estate planning attorney’s office, it’s a person under the age of 40. Most younger people don’t really believe they need any kind of estate plan at all. Even if they’ve heard stories about what happens when you don’t have an estate plan, or… Read more »
If everyone took the time to talk to an estate planning lawyer, most of the common estate planning mistakes around today would disappear. The reality is, however, that most people never get around to taking estate planning seriously, much less talk to an expert, so mistakes are common. Here is a list of some of… Read more »
