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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: "September, 2019"
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By Harry Margolis
In Social Security, Special Needs Planning
Posted September 27, 2019

Grandmother Probably Cannot Get Benefits for Caring for Disabled Grandson

Question: I have received caregiver payments from Social Security for my 23 year old since 2013, when his father retired. Now, I’m seeking custody of my disabled grandson, who is 14 years [...]

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 Can Our Father’s Widow Sell Her Life Estate in the Family Home?
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By Harry Margolis
In Real Estate, Second Marriages
Posted September 27, 2019

Can Our Father’s Widow Sell Her Life Estate in the Family Home?

Question: My father remarried after my mother died. He was in his sixties. He owned our family home and had no mortgage or liens. He never put his second wife on the deed because he wanted to [...]

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 Can Property in a Medicaid-Planning Trust Get a Step-Up in Basis Upon the Grantor’s Death?
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By Harry Margolis
In Long-Term Care Planning
Posted September 20, 2019

Can Property in a Medicaid-Planning Trust Get a Step-Up in Basis Upon the Grantor’s Death?

Question: Is there a way to create a grantor “irrevocable trust” that allows the beneficiaries to receive a step-up in basis of a home at death? If so, can this be considered a gift [...]

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 Can Community Spouse Keep Proceeds of Sale of Home?
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By Harry Margolis
In Long-Term Care Planning
Posted September 20, 2019

Can Community Spouse Keep Proceeds of Sale of Home?

Question: Spouse is in nursing home on Medicaid. Well spouse is allowed to keep their home. Is the well spouse allowed to sell the home and rent in a cheaper neighborhood or purchase a condo or [...]

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 How Long Does it Take to Change My Trustee?
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By Harry Margolis
In Special Needs Planning, Trustee
Posted September 17, 2019

How Long Does it Take to Change My Trustee?

Question: If I currently do not like my trustee and would like to hand over my road accident fund trust to another trust fiduciary company, how long does it take? And will I lose access to my [...]

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 How Can I Protect My Spendthrift Daughter’s Inheritance?
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By Harry Margolis
In Asset Protection
Posted September 10, 2019

How Can I Protect My Spendthrift Daughter’s Inheritance?

Question: I have a 20-year-old daughter who goes through money pretty quick. I have decided I can’t lay $1-1.5 million on her at age 21-23. (I’m terminally ill.) How much should I [...]

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 Are State Estate Taxes Deductible on the Beneficiaries’ Income Tax Returns?
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By Harry Margolis
In Estate and Gift Taxes
Posted September 7, 2019

Are State Estate Taxes Deductible on the Beneficiaries’ Income Tax Returns?

Question: When my children will need to pay a Massachusetts estate tax after my death, will that deductible come from their federal income taxes? I read somewhere that it will. Response: No. [...]

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 Do We Need New Estate Planning Documents When Moving to a New State?
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By Harry Margolis
In Wills
Posted September 7, 2019

Do We Need New Estate Planning Documents When Moving to a New State?

Question: We had a community property agreement and wills prepared in Washington state, where we resided for many years. We are now residents of Arizona, which is also a community property state. [...]

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 Can We Take Out a Home Equity Loan on Our House in Trust?
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By Harry Margolis
In Real Estate, Revocable Trusts
Posted September 5, 2019

Can We Take Out a Home Equity Loan on Our House in Trust?

Question: Our home loan is paid off. We have our home in a trust for our children to receive in the event of our death. Can we take out a home equity loan on our home? Do we have to remove it [...]

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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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