At some point during your “Golden Years,” you may find that you need to qualify for Medicaid to help cover your healthcare expenses. As you may already know, both your income and your “countable resources” will impact your eligibility for Medicaid. You may also be concerned about how your need to qualify for Medicaid may affect your spouse’s income and assets. The Medicaid lawyers at Kulas Law … [Read more...]
Wills, Trusts, and Estates — A Beginner’s Guide
If you are new to the concept of estate planning, the entire process probably seems a little overwhelming. The components that make up your estate plan will likely represent the most important set of legal documents you execute over the course of your life, which only makes estate planning more intimidating for many people. Along with the need to make potentially life-altering decisions, you will … [Read more...]
What Is a Domestic Asset Protection Trust?
Asset protection is an essential estate planning goal for anyone with a moderate to wealthy estate. Fortunately, there are numerous estate planning tools and strategies that can help protect the assets you have acquired over the course of your lifetime. Many asset protection strategies involve the use of an irrevocable trust. The reason for this is that assets transferred to an irrevocable trust … [Read more...]
Turning the Page on 2018 and Looking Forward to 2019
As we turn the page and bid farewell to 2018, we look forward to 2019. This article summarizes the major changes for 2019, both in the tax area and in other areas. Read on to learn more. Turning the Page on 2018 and Looking Forward to 2019 … [Read more...]
How Do I Modify a Revocable Living Trust?
Given the frequency with which trusts are included in an estate plan, there is a very good chance that your estate plan will eventually include a trust, if it doesn’t have one already. There is an equally good chance that as you move through the various phases of your life, changes in your life will prompt the need to make changes to your estate plan, including your trust. The Port St. Lucie … [Read more...]
What Is a Revocable Living Trust?
For the uninitiated, the prospect of creating an estate plan can be intimidating. Most of the concepts, tools, strategies, and even terminology is foreign to someone who is new to estate planning. As the old adage says – knowledge is power. The more you learn about the estate planning process, the less intimidating it will be for you. In addition, by learning as much as possible before actually … [Read more...]
What Assets Can You Have and Still Qualify for Medicaid in Florida?
Although you may never before have had a need to qualify for Medicaid, you may find that changes at some point during your retirement years as a result of the high cost of long-term care. If you find yourself in need of the benefits offered by Medicaid, and you failed to plan for the possibility, you may also find that your retirement nest egg is at risk. The best way to avoid that is to know … [Read more...]
When Should I Review My Estate Plan?
If you have a comprehensive estate plan in place, you are ahead of over half of all Americans. While you should certainly feel good about taking the steps necessary to protect yourself, your assets, and your loved ones, do not make the mistake of stopping now. That estate plan needs to be reviewed and revised both routinely and when life events require in order to continue to protect everything … [Read more...]
Conservatorship vs. Guardianship
At some point in your life, you may be faced with the deteriorating mental capacity of a parent or other loved one. You could also face your own declining mental abilities at some point as a result of an Alzheimer’s diagnosis. In either case, there may come a point at which guardianship needs to be considered. You may already be somewhat familiar with the terms “guardianship” and … [Read more...]
How Are Trusts Taxed?
Trusts are useful vehicles both during life and after death. This article examines how trusts are income taxed. Grantor trusts are taxed to the grantor, regardless of whether the income is distributed to them. Nongrantor trusts are separate taxpaying entities but get a deduction for distributions to beneficiaries. Read the article to learn more. How Are Trusts Taxed? … [Read more...]
- 1
- 2
- 3
- …
- 98
- Next Page »
