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…

You want to find a top-notch asset protection attorney with integrity and experience. Here are some questions to ask as you make your decision: How long have you been putting asset protection plans in place? What is your rate of success in implementation? Do you have client references with whom I could speak? What is…

This might be more in some people’s minds at the moment than previously, especially perhaps concerning the first point noted below. If you are interested in knowing the key areas covered in such a document, these can include… The use of mechanical ventilation Measures to resuscitate should your heart stop Being tube fed when your…

Many child-free couples assume they don’t need a comprehensive estate plan. However, without a will, the court system decides who gets your assets. Unfortunately, your wealth may end up in the hands of someone you didn’t want to inherit your property. Here are some tips that can help you decide who to leave your wealth…

Many professional people and business owners are already aware of this, which is also known as a DAPT (Domestic Asset Protection Trust). Are you are in the line of work where you could be faced with hugely expensive and damaging lawsuits, or claims and creditors? If so, then a DAPT may be well worth thinking…

The full title is a Qualified Personal Residence Trust. This is an irrevocable process whereby you can use a gift tax exemption to remove a residence from your taxable estate. It removes the current and future value of a primary or secondary residence for just pennies on the dollar. During the term of a QPRT,…

After someone dies, their appointed trustees and executors have many responsibilities. Such fiduciary duties are usually scrupulously dealt with. However, there are three areas where this might not happen. These breaches often refer to one or more three key duties… Care – representatives should manage assets according to both the law and estate documents Impartiality…

Executors are individuals above the age of 18 who you appoint to handle your estate after your death. Choosing the right executor of your will is, thus, vital as they are responsible for all the decisions relating to your estate, such as spending money for your minor children. When choosing your executor, ensure they are…

Going through a divorce can be challenging for any couple, especially when children are involved. However, after your divorce, it’s vital to update or revise your estate plan to ensure your assets go to the right person/s when you die. Besides, during a divorce, your assets, property and debt will be divided, requiring you to…

Providing for your kids in case you die prematurely is vital in ensuring they live comfortably after you’re gone. However, many parents worry their children may not be financially responsible and can mismanage an inheritance. Luckily, you can avoid this by naming a property guardian in your will to manage whatever property the child inherits.…

A will is a legal document in which an individual expresses their wishes as to how their property will be distributed upon death. However, many people avoid writing wills because they don’t know much about probate, trusts, and wills. Here are some common myths about wills you should avoid. If someone dies without a will,…