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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: "February, 2020"
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 Who is the Successor Trustee?
0
By Harry Margolis
In Trustee
Posted February 28, 2020

Who is the Successor Trustee?

Question: The following statement regarding the appointment of successor trustees from a trust has led to some confusion: The initial Trustee is John W., then Edna L., then Susan K. shall serve [...]

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0
By Harry Margolis
In Revocable Trusts, Trustee, Wills
Posted February 25, 2020

What does “Contest” Mean in a No-Contest Clause?

Question: In trust documents, my cousin, the settlor, specifically has a clause that states I can eliminate any beneficiary that contests. I did remove one beneficiary. He is now suing me, saying [...]

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 Can My Parents Give Me Their Home as Compensation for Care I Provide Them?
0
By Harry Margolis
In Long-Term Care Planning, Real Estate
Posted February 21, 2020

Can My Parents Give Me Their Home as Compensation for Care I Provide Them?

Question: In California, can I have my parents deed their house to me as compensation for taking care of them? It has been 5 years and I am drowning. Response: I don’t practice in [...]

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 Is a Trustee Entitled to Compensation?
2
By Harry Margolis
In Trustee
Posted February 14, 2020

Is a Trustee Entitled to Compensation?

Yes, trustees are entitled to compensation. After all, they perform important services with a high degree of responsibility and potential liability. Nevertheless, when family members serve as [...]

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 Are IRAs Countable Assets for Purposes of Medicaid Eligibility?
0
By Harry Margolis
In Long-Term Care Planning
Posted February 14, 2020

Are IRAs Countable Assets for Purposes of Medicaid Eligibility?

Question: If I need to go to a nursing home on Medicaid, will my wife’s IRA be counted as an asset in determining my eligibility? Response: That depends on your state. Some states treat [...]

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 What Should be in Place for a Very Simple Estate?
0
By Harry Margolis
In Probate, Wills
Posted February 11, 2020

What Should be in Place for a Very Simple Estate?

Question: My mother is 90 years old and in good health but never planned for leaving this earth. She is a single woman and I am her daughter. She owes $23,000 on her home and lives off of Social [...]

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 What Happens to Home Sale Proceeds If One Spouse Goes to Nursing Home?
0
By Harry Margolis
In Long-Term Care Planning
Posted February 8, 2020

What Happens to Home Sale Proceeds If One Spouse Goes to Nursing Home?

Question: If, as seniors, we sell a jointly-owned primary residence and we split the proceeds, will the assets be protected if one of us ends up in a Medicaid nursing home? Response: I’m [...]

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 Who has Duty to Give Trustee Copy of Trust Amendment?
0
By Harry Margolis
In Revocable Trusts, Trustee
Posted February 8, 2020

Who has Duty to Give Trustee Copy of Trust Amendment?

Question: I am co-trustee of a revocable trust with my elderly mother, the grantor trustee. I have been actively managing the trust. She recently made an amendment to the trust independently with [...]

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Categories
  • Asset Protection (34)
  • Charitable Giving (10)
  • Durable Powers of Attorney (44)
  • Estate and Gift Taxes (56)
  • Guardianship and Conservatorship (5)
  • Health Care Directives (13)
  • Irrevocable Trusts (51)
  • Long-Term Care Planning (173)
  • Non-Traditional Families (16)
  • Non-US Citizens (27)
  • Pets (4)
  • Practical Matters (15)
  • Probate (38)
  • Property in Other Countries (5)
  • Real Estate (69)
  • Retirement Plans (19)
  • Revocable Trusts (102)
  • Second Marriages (11)
  • Social Security (18)
  • Special Needs Planning (70)
  • Trustee (52)
  • Vacation Homes (3)
  • Wills (50)
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