There are several tools available to accomplish estate planning goals. One of the most frequently used tools by estate planning attorneys is referred to as a “trust.” Trusts come in all shapes and sizes. You can create a trust during your lifetime (called a “living” trust). Alternatively, you can have your trust come into existence […]
In my first article on this topic, I wrote about the concept of using an Irrevocable Trust to protect assets from being used to pay for nursing home expenses. In this article, I want to explore this issue a bit further and discuss the ideal timing for the use of an Irrevocable Trust. Estate planning […]
It depends! (Typical lawyer answer). The fact is that no two estate plans are exactly the same. Your goals, family structure, and particular situation will dictate what kind of estate plan you need. Let’s look at a few important factors to consider when deciding between a will-based estate plan and a revocable living trust-based estate […]
Lots of people have heard about giving away assets to protect them from being used for nursing home expenses. However, giving your house away is not a decision to be taken lightly. The idea behind giving away (the fancy legal term is “divesting”) your house is to take it out of the equation when your […]