Now that we have provided the necessary background information, we can look at the value of special needs trusts. These trusts are alternately called supplemental needs trusts. Topics covered in this report include: People With Disabilities Special Needs Trusts Click here to read the whole article or download the PDF. … [Read more...] about Free Report: What is a Special Needs Trust in California?
Should I Change My Living Trust When I Acquire Assets?
A revocable living trust can provide you with a number of different benefits. One of them is the ability to make changes to the trust after it has been established. If you were to establish a living trust, you would create a trust declaration, and this would dictate the terms of the trust. You would typically act as the trustee initially, but you would name a successor trustee to take over after you pass away. The beneficiaries would also be named, and you would leave behind instructions with … [Read more...] about Should I Change My Living Trust When I Acquire Assets?
Free Report: What are the Drawbacks of Probate in California?
The probate court must examine the will to determine its validity. If there were any challenges to the validity of the will, they could be presented during the probate process. Topics covered in this report include: Estate Challenges Time Consumption Loss of Privacy Expenses Avoiding Probate Click here to read the whole article or download the PDF. … [Read more...] about Free Report: What are the Drawbacks of Probate in California?
Free Report: What is a Qualified Personal Residence Trust in California?
If your estate is going to be exposed to the estate tax, you could potentially reduce the taxable value of your home through the creation of a qualified personal residence trust. Topics covered in this whitepaper include: Federal Transfer Taxes Qualified Personal Residence Trusts Click here to read the whole article or download the PDF. … [Read more...] about Free Report: What is a Qualified Personal Residence Trust in California?
Free Report: Will My Heirs Be Forced to Pay An Inheritance Tax in California?
In this post, we will look at taxes that can be imposed on asset protection. Topics covered in this whitepaper include: Inheritance Tax Estate Tax Federal Gift Tax State-Level Estate Tax Capital Gains Tax Click here to read the whole article or download the PDF. … [Read more...] about Free Report: Will My Heirs Be Forced to Pay An Inheritance Tax in California?
What Questions Should I Ask an Estate Planning Attorney?
There are a lot of things that you should know when you are devising your estate plan. If you do not act in a fully informed manner, you could make mistakes that negatively impact your loved ones. When you discuss things with a licensed estate planning attorney, you can go forward in a fully informed manner. Ultimately, you can emerge from the interaction with a personalized estate plan that ideally suits your needs. In this post we will look at some questions that you may want to ask your … [Read more...] about What Questions Should I Ask an Estate Planning Attorney?
Elder Care FAQs: Does the Nursing Home Get Half of My Assets?
There are some myths that circulate with regard to nursing home expenses. We endeavor to clear up these misconceptions from time to time on this blog. Today we will look at a common elder care question. Medi-Cal & Long-Term Care Before we get to the specific question, we should provide some basic background information. Most seniors will qualify for Medicare when they reach the age of 65. You are probably aware of the fact that Medicare is a government health insurance … [Read more...] about Elder Care FAQs: Does the Nursing Home Get Half of My Assets?
Do I Pay Taxes on Living Trust Income?
When you understand some things about estate administration, you can see why so many people decide to use revocable living trusts. If you hold on to your property throughout your life and arrange for its distribution through the terms of a last will, the heirs to the estate will have a significant waiting period on their hands. The estate administration process takes place under the supervision of the probate court. After your passing, the executor or personal representative would be required … [Read more...] about Do I Pay Taxes on Living Trust Income?
Do I Control Assets in a Medi-Cal Trust?
A Medi-Cal trust can be used if you want to qualify for Medi-Cal to pay for long-term care. Before we get to the question of control, we should explain why Medi-Cal coverage could be relevant to you during the latter portion of your life. Living Assistance We are all aware of the fact that some seniors require living assistance. When you are healthy, you may assume that it is unlikely that you will ever be one of them. As a result, you may not care too much about long-term care and the … [Read more...] about Do I Control Assets in a Medi-Cal Trust?
Why Is Estate Planning Important?
Studies indicate that the majority of American adults are not prepared from an estate planning standpoint. This is a somewhat strange phenomenon, because these individuals are failing to plan ahead for something that is definitely going to take place. Some people do not take action because they don't understand why estate planning is important. In reality, estate planning is important for numerous different reasons. Avoiding Intestacy If you pass away without any estate planning documents, … [Read more...] about Why Is Estate Planning Important?
