As I sometimes explain to clients, in terms of Medicaid paying for long-term care, if they don’t get you coming, they’ll get you going. This is because, with certain limitations, [...]
If you’re like me, your charitable giving is somewhat haphazard. It depends on what cause plucks at your heartstrings on a particular day, who is asking for a donation, and whether or not [...]
Similar to (d)(4)(A) or payback trusts described here, (d)(4)(C) or “pooled disability” trusts, permit disabled individuals to shelter assets and still qualify for Medicaid and [...]
In addition to giving retirement plan bequests to charity, donors are often advised to give away stock or real estate that has appreciated in value. This has to do with capital gains taxes and [...]
As explained here, Medicaid would count the funds in most trusts you created for yourself or for your spouse as being available if either of you were to apply for benefits. However, the Medicaid [...]
Charities often encourage donors to make gifts of retirement plans due to the tax benefits of doing so. Retirement plans, of course, are taxed when the funds are withdrawn. But, non-profit [...]
Testamentary trusts can provide a way to have your cake and eat it too. Most planning to be eligible for Medicaid to pay for your long-term care involves a trade off, putting assets out of your [...]
Most people who make charitable bequests are very specific about their beneficiaries and the amount of money they will give them. For instance, a will or trust may say: I give: (a) $10,000 to [...]
While you can create a pet trust to set aside money to be used to care for your pet in the event of your incapacity or death, other steps you can take may be equally to protect your pet. These [...]