This is a financial strategy that people use to qualify for Medicaid when their income is too high. Since Medicaid helps with medical costs for people with limited income, you have to spend down your income to be eligible for the program. However, the rules, restrictions, and requirements of a Medicaid Spend Down can be…

A will ensures your assets and property are distributed how you want them to be. Without a will, your assets will be seized and distributed by the government. A will might be a good idea if: You are married – If you do not want your spouse to receive all your assets, a will is…

Many people like the idea of setting up a trust but simply don’t know where to begin. Broadly speaking, these are the steps you’ll need to take to establish a trust: Decide what you want the trust for (this will determine the type of trust you choose) Seek out qualified advice Register the trust with…

Do you want to plan for your end-of-life? As dreary as it sounds, end-of-life planning is a great way to ensure your wishes are carried out. To get started, here are four documents you must have. Last will and testament Living will Power of attorney for healthcare Durable power of attorney However, it’s essential to…

What might I gain by having a Qualified Personal Residence Trust is one of the main questions our team members are asked. Here are three key benefits… For just a fraction of its value, both the current and future value of a property – either primary or secondary – is removed from your taxable estate…

Many people think that trusts are only used by highly wealthy people. Although uber-wealthy folks certainly use trusts, many others may find them beneficial as well. Indeed, many working folks will find great utility in establishing trust. One of the principal benefits of many trusts is to manage spending and protect beneficiaries from poor decisions…

Planning for your end-of-life ensures you have a greater quality of life and that your wishes are respected. Also, it ensures your loved ones have fewer disputes about your plans, whether it’s distributing your assets or making funeral arrangements when you pass on. However, when doing your end-of-life planning, here are some mistakes you should…

A special needs trust is a great option for individuals who want to financially provide for their loved ones with disabilities. Here are three reasons why establishing a special needs trust is important. It allows you to choose someone to serve as a trustee when your loved one is incapable of managing finances. It protects…

As the years pass, planning for the future, which may well not have held much interest for a younger – maybe more carefree – you, comes into a sharper focus. If this might be you, have you considered some or all of the following: Creating a valid will – and perhaps, a living will Planning…

Are you looking for an estate planning attorney? Here are some questions you should ask during your first consultation to ensure they’re the right fit. How long does the estate planning process take? How can I avoid probate? How often do I need to make adjustments to my estate? What’s the difference between a living…

Establishing a special needs trust allows you to protect or hold assets for your loved one with disabilities. However, your beneficiary can lose their eligibility for government assistance with this trust. But, when done right, you can manage assets for your loved one without compromising their Medicaid or SSI. Here are some dos of establishing…

Asset protection planning is a smart way to protect your assets from creditors. Unfortunately, there is a lot of misinformation about assert protection on the internet, resulting in people making costly mistakes. Here are some asset protection mistakes you should avoid: Going the DIY route Transferring your property when you have a pending lawsuit or…