Recent Blog Posts
I’m a Survivor . . . and Now I Have My Own Trust?
Many married couples share almost everything, including finances. This may be reflected in their estate plan by using one joint living trust instead of two separate trusts. Separate trusts can provide greater flexibility, but a joint trust can be structured so that when one spouse passes away, the trust is split into two subtrusts:… Read More »
Testamentary Trusts: The Best of Both Worlds?
You have several different options when it comes to creating the right estate plan. Some people believe that a revocable living trust is the best way to go, while others think that a last will and testament (commonly known as a will) is best under certain circumstances. Others may find that a combination of… Read More »
What Is the “Last Surviving Spouse Rule”?
Estate planning can be a significant part of successful financial management, especially for married couples. One key consideration is minimizing estate taxes, which can substantially affect the distribution of money and property to a married couple’s loved ones. Part of this is understanding the purpose of the Deceased Spousal Unused Exclusion Amount, commonly referred… Read More »
2024 Standard Protections for Spouses of Medicaid Applicants
Each fall, the Centers for Medicare & Medicaid Services (CMS) renews the federal guidelines that seek to protect individuals whose spouses are applying for or receiving Medicaid long-term care benefits. These protections, known as the Spousal Impoverishment Standards, help to support the financial well-being of seniors who continue residing at home while their spouse on… Read More »
Protecting Your House After You Move into a Nursing Home
When people start thinking about aging and the looming potential for needing long-term nursing care that comes along with it, one of the primary questions people have is: can a nursing home take your house? While you generally do not have to sell your home in order to qualify for Medicaid for nursing home… Read More »
3 Examples of When an Irrevocable Trust Can—and Should—Be Modified
A frequently asked question that we receive is: “Can you change an irrevocable trust?“ You may be surprised to find out that YES, they can indeed be modified. If you did not know this, you are not alone. The name lends itself to that very misconception. However, the truth is that changes in laws,… Read More »
How the Corporate Transparency Act May Impact Your Estate Plan
Starting on January 1, 2024, under a new law called the Corporate Transparency Act (CTA), owners of certain business entities must file a report with the federal government including details regarding the ownership of their entity. The Corporate Transparency Act was enacted to help combat money laundering, financing of terrorism, tax fraud, and other… Read More »
Can Artificial Intelligence Programs Write Basic Estate Planning Documents?
With the increased coverage of artificial intelligence (AI) and all of the applications it can have in our everyday lives, some people may wonder whether an AI estate planning program can create their documents for them. While AI may be able to generate basic estate planning documents, including wills and trusts, there is no… Read More »
How An ABLE Account Can Help Boost Your Financial Health
For many people with disabilities, maintaining financial well-being can prove particularly challenging amid the marginalization, societal stereotypes, and employment and health care barriers they may regularly face. This includes anything from inaccessible workplaces to reduced income to limited options for building up their savings. Financial Health of People with Disabilities According to a new report,… Read More »
Blindsided: The Michael Oher Conservatorship Controversy Explained
Michael Oher has had a remarkable life so far. Born to a single mother struggling with addiction and growing up in and out of foster care, Oher went on to star as a University of Mississippi football player and was selected in the first round of the 2009 NFL draft by the Baltimore Ravens…. Read More »
