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How to prevent elder financial abuse

Elder financial abuse and Medicaid: How are they related?

By Andre O. McDonald |

A major problem faces Americans as they grow older – Elder Financial Abuse. But did you know that there is a documented link between elder financial abuse and Medicaid denials?   What is Elder Financial Abuse? Elder financial abuse is a growing issue for Americans. Studies show that $2.9 Billion are lost every year… Read More »

Here's why you must include your vacation property in your estate plan

Does My Estate Plan Need to Include My Vacation Property?

By Andre O. McDonald |

Yes! If you own a vacation property, timeshare, investment property, or any other asset outside of the state where you are domiciled, you must make sure it’s included in your estate plan. If you fail to include these in your estate plan, or fail to have an estate plan at all, your heirs will… Read More »

Estate Planning for New Parents: How to Protect Your Sweet New Baby

New Baby? The Importance of Estate Planning for New Parents

By Andre O. McDonald |

Estate planning is often one item that gets pushed back on nearly everyone’s to-do list. The reasons you might be delaying vary: lack of time, not thinking you have enough assets, not knowing how to start, or fear of contemplating death. Whatever the reason for not putting an estate plan together up until now,… Read More »

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Irrevocable Trust vs. Revocable Trust: Which Is Best for You?

By Andre O. McDonald |

Trusts allow you to avoid probate, minimize taxes, provide organization, maintain control, and provide for yourself and your heirs. In its most simple terms, a trust is a book of instructions wherein you tell your people what to do, when. While there are many types of trusts, the major distinction between trusts is whether… Read More »

trust

Landmark Case: U.S. Supreme Court Rules Inherited IRAs are Not Protected from Creditors

By Andre O. McDonald |

On June 12, 2014, the U.S. Supreme Court—in a unanimous decision—ruled that Individual Retirement Accounts (IRAs) inherited by anyone other than a spouse are not retirement funds and therefore are not protected from the beneficiary’s creditors in bankruptcy. The reasoning is, because the beneficiary cannot make additional contributions or delay distributions until retirement, it… Read More »

trusts

Decanting: How to Fix a Trust That Isn’t Getting Better With Age

By Site Administrator |

While many wines get better with age, the same cannot be said for some irrevocable trusts. Maybe you’re the beneficiary of trust created by your great grandfather over seventy years ago and that trust no longer makes sense. Or, maybe you created an irrevocable trust over twenty years ago and it no longer makes… Read More »

taxes

Listen Up: These States Will Usher in Changes to Their Death Taxes in 2016

By Site Administrator |

In 2015, there are still 20 U.S. jurisdictions that collect a death tax at the state level: Connecticut, Delaware, District of Columbia, Hawaii, Illinois, Iowa, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Nebraska, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Tennessee, Vermont, and Washington. Even if you don’t live in one of these states, the… Read More »

estate planning

Wills, Trusts & Dying Intestate: How They Differ

By Site Administrator |

Most people understand that having some sort of an estate plan is, as Martha Stewart would say, a “good thing.” However, many of us don’t take the steps to get that estate plan in place because we don’t understand the nuances between wills and trusts – and dying without either. Here’s what will generally… Read More »

trusts

Wills vs. Trusts: A Quick & Simple Reference Guide

By Site Administrator |

Confused about the differences between wills and trusts? If so, you’re not alone. While it’s always wise to contact experts like us, it’s also important to understand the basics. Here’s a quick and simple reference guide: What Revocable Living Trusts Can Do – That Wills Can’t Avoid a conservatorship and guardianship. A revocable living… Read More »

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How to Avoid Sending Your Loved Ones (and Assets) through Probate

By Site Administrator |

Today many people are using a revocable living trust instead of a will or joint ownership as the foundation of their estate plan. When properly prepared, a living trust will avoid the public, costly and time-consuming court processes of conservatorship or guardianship (due to incapacity) or probate (after death). Still, many people make a… Read More »

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