By: Matthew M. Shafae, Attorney Litherland, Kennedy & Associates, APC, Attorneys at Law The living trust is the bedrock foundation upon which our estate plans are built. It’s right there in the word: trust. It sounds safe and secure; it’s warm peace of mind. If you’ve been to one of our seminars or workshops, you’ve probably heard us tout the benefits of an asset-protection trust, and how our clients typically take advantage of this estate planning enhancement to leave property to loved ones … [Read more...] about Are All Trusts Asset-Protecting Trusts?
What Are the Disadvantages of a Medi-Cal Trust?
The government run health insurance program for people with significant financial need is called Medicaid in most of the 50 states. In California, this program is called Medi-Cal. This is a program that is jointly administered by the federal government along with each respective state government. Every state has a certain amount of latitude with regard to the precise way that the program is administered. Based on Need Medi-Cal eligibility is based on financial need. There are rather complex … [Read more...] about What Are the Disadvantages of a Medi-Cal Trust?
What Is a Qualified Personal Residence Trust?
When you are evaluating any potential estate tax exposure you may have, you should understand the fact that the value of your home is certainly going to count. Who Is Exposed? How do you know if you are exposed to the estate tax or not? There is a federal estate tax exclusion or credit. In 2014 the amount of this exclusion is $5.34 million. A base of $5 million was put into place for the 2011 calendar year. It is annually adjusted for inflation. Next year you may see a slightly higher figure … [Read more...] about What Is a Qualified Personal Residence Trust?
