By: Matthew M. Shafae, Attorney Litherland, Kennedy & Associates, APC, Attorneys at Law Special Needs Trusts (also called Supplemental Needs Trusts) are specific types of trusts that allow a disabled person to be the beneficiary of a trust while not interrupting his/her eligibility to receive government assistance. Without a Special Needs Trust, persons with disabilities risk losing government benefits if they receive an inheritance, a personal injury award, or receive other funds. In 1993, … [Read more...] about Special Needs Trusts: Two Words to Say Fairness
Advantages of the Clayton Trust
By: Justin M. Kennedy, Attorney Litherland, Kennedy & Associates, APC, Attorneys at Law Prior to 2014, for married clients with estates valued at over one million dollar ($1,000,000), our office often recommended ABC Trusts. This trust structure was used to preserve the Deceased Spouse’s estate tax exemption. For much of that time, there was a one million dollar ($1,000,000) estate tax exemption. Utilizing the ABC Trust structure allowed you to double that, to be able to pass two … [Read more...] about Advantages of the Clayton Trust
Advanced Medi-Cal Triggers – Spousal Election
By: Justin M. Kennedy, Attorney Litherland, Kennedy & Associates, APC, Attorneys at Law While at an estate planning conference in November, one of the speakers discussed a planning strategy that may benefit many married couples. The planning strategy involves adding Advanced Medi-Cal Triggers to a married couple’s estate plan, specifically a Spousal Election to the Living Trust and testamentary special needs trust language within the Pour-Over-Will. For a married couple, upon the first … [Read more...] about Advanced Medi-Cal Triggers – Spousal Election
Portability and Second Marriages
by Matthew M. Shafae and Justin M. Kennedy, AttorneysLitherland, Kennedy & Associates, APC, Attorneys at Law A lot of estate planning hypothetical situations involve the spouse dying, and the survivor getting hitched with some nefarious predator who is only after the survivor’s wealth. All of our attention is paid toward preserving the estate and protecting the kids. But what about a second marriage that actually benefits the kids, and helps preserve the estate? We recently had precisely … [Read more...] about Portability and Second Marriages
Join Us for Our Last Two Free Living Trust Seminars of 2016
If you do not have an estate plan – or if your estate plan consists only of a basic will – you may not be adequately protecting your family against probate and estate taxes. Without proper planning, your family could lose a large portion of your estate to probate fees and estate taxes, even if you have a will… Setting Up a Living Trust is One of the Most Important Things You Can Do for Yourself and for Your Family During Your Lifetime A Living Trust will transfer your estate to your … [Read more...] about Join Us for Our Last Two Free Living Trust Seminars of 2016
