Asset protection is a source of concern for some, and it comes in different forms. A lot of people assume that a trust will protect assets because you surrender personal control of assets in a trust. The idea is that the trust is the owner of the resources, so they are protected. Is this an […]
Estate Planning
Will Medicaid Take the Remainder in a Special Needs Trust?
Many individuals with special needs are not capable of working, so they do not receive health insurance through their employers. Obviously, these folks need coverage more than the average person, and Medicaid is there to fill the void. The Supplemental Security Income (SSI) program provides a very modest stream of monthly cash to augment the […]
Are Living Trust Distributions Taxed?
The revocable living trust is a very versatile estate planning solution that can be the right choice for a wide range of people. We are going to look at the tax question in this post, but before we get there, we will explain some of the benefits that living trusts provide. Streamlined Estate Administration When […]
Pet Trusts: Can You Establish One for a Pet?
Pet trusts can be part of a well put-together estate plan.  Most American families have a pet, and it is enriching to have a dog or cat around the house. Children love their fine furry friends, and your pet becomes a part of your family. When you are relatively young, if you pass away unexpectedly, other […]
SSI vs. SSDI: What’s the Difference?
It is important to discuss your estate planning objectives with a licensed attorney for a number of reasons. One of them is the simple fact that you may not understand all the different asset transfer devices that are at your disposal. The optimal way to get assets into the hands of one person may not […]
Estate Tax Liability: Home Values Can Increase Liability
Estate tax liability is something you need to take into consideration if you are a homeowner in the Manhattan area – and across the state of New York. We have all watched our home values go up over recent years, and it is exciting to see your fortunes rise. Here in Manhattan, real estate has […]
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