Question: I need an honest answer about how someone like me (an “elder orphan”) should structure my estate planning documents. I am totally alone in my mid-50’s—with no one to serve as a fiduciary, or other key roles (on a durable power of attorney, health care proxy, etc.). What will happen to me if I […]

Question: When a husband is about to apply for Medicaid long-term care benefits, and a community-spouse (non-applicant) wife is trying to reduce her assets below the limit of about $128,000, what do you think of using assets to pay the tax that results from converting a traditional IRA to a Roth? Response: That sounds like […]

Question: If I transfer real estate into a regular trust, does it constitute a sale and result in capital gain tax and property basis step-up? What if I transfer it to a nominee trust? Response: I am going to assume that by “regular” trust you mean a revocable trust. I also assume that by “transfer” […]