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Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself.
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Archives

Monthly Archive for: "July, 2018"
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 Do I have to Reimburse Medicaid when I Move to Another State?
0
By Harry Margolis
In Long-Term Care Planning, Special Needs Planning
Posted July 27, 2018

Do I have to Reimburse Medicaid when I Move to Another State?

Question: I am on Medicare and Medicaid for my health insurance. I would like to sell my home in New York and buy another in a different state. Will I have to reimburse Medicaid for the medical [...]

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 How Can I Transfer Fractional Shares of My Real Estate to My Children
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By Harry Margolis
In Estate and Gift Taxes
Posted July 20, 2018

How Can I Transfer Fractional Shares of My Real Estate to My Children

Question: If I make a gift of $15,000 shares of property I own to each of my children, do I also have to put them on the property title as co-owners of the property? It’s my understanding [...]

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 What is a Trust Protector and What are the Benefits of Having One?
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By Harry Margolis
In Asset Protection, Revocable Trusts, Special Needs Planning
Posted July 20, 2018

What is a Trust Protector and What are the Benefits of Having One?

Question: What is a Trust Protector and how do they work? Are there advantages and disadvantages in setting one in place? Response: A “trust protector” is a relatively new category of [...]

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 Can I Take Out a Mortgage on a Home in a Trust?
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By Harry Margolis
In Revocable Trusts
Posted July 20, 2018

Can I Take Out a Mortgage on a Home in a Trust?

Question: My home is in a trust set up by my mother with me as beneficiary. I don’t have a mortgage but the house needs serious remodeling/upgrades as it is a 1986 model. Can I take out a [...]

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 What Happens to Medicaid Coverage for a Nursing Home Resident Moving from One State to Another?
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By Harry Margolis
In Long-Term Care Planning
Posted July 13, 2018

What Happens to Medicaid Coverage for a Nursing Home Resident Moving from One State to Another?

Question: We are in the process of transferring our dad from a nursing home in Connecticut to Ohio. He is on Medicaid. We understand that Medicaid does not transfer from one state to another, so [...]

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 How Can We Change a Flawed Trust?
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By Harry Margolis
In Revocable Trusts, Special Needs Planning
Posted July 13, 2018

How Can We Change a Flawed Trust?

Question: I am trustee for several trusts for a difficult and irresponsible beneficiary. I would like to appoint a successor trustee in case of my death or inability to serve. However, I have [...]

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 Can Part Owner of Real Estate Create a Life Estate?
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By Harry Margolis
In Non-Traditional Families
Posted July 6, 2018

Can Part Owner of Real Estate Create a Life Estate?

Question: If my sister and I inherited half of our dad’s house after he passed and then his wife went down to the courthouse and filed a life estate, is this legally binding? We had no [...]

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 Can We Combine Two Special Needs Trusts for My Sister?
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By Harry Margolis
In Revocable Trusts, Special Needs Planning
Posted July 6, 2018

Can We Combine Two Special Needs Trusts for My Sister?

Question: Upon mom’s death, her will created a special needs trust for my sister. Now, our dad has passed and his trust created a special needs trust for the same sister. Do we have to have [...]

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Categories
  • Asset Protection (34)
  • Charitable Giving (10)
  • Durable Powers of Attorney (41)
  • Estate and Gift Taxes (47)
  • Guardianship and Conservatorship (4)
  • Health Care Directives (12)
  • Irrevocable Trusts (40)
  • Long-Term Care Planning (155)
  • Non-Traditional Families (14)
  • Non-US Citizens (20)
  • Pets (3)
  • Practical Matters (15)
  • Probate (27)
  • Property in Other Countries (4)
  • Real Estate (52)
  • Retirement Plans (16)
  • Revocable Trusts (92)
  • Second Marriages (10)
  • Social Security (17)
  • Special Needs Planning (65)
  • Trustee (51)
  • Vacation Homes (3)
  • Wills (43)
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