• take action: Plan Your Estate
  • Ask a Question

    Ask Harry a Question

    • This field is for validation purposes and should be left unchanged.

    Close
  • Books
  • Podcasts
  • Guides
  • Subscribe

    Subscribe to the Ask Harry blog

    Loading
    Close
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.
  • Ask a Question

    Ask Harry a Question

    • This field is for validation purposes and should be left unchanged.

    Close
  • Books
  • Podcasts
  • Guides
  • Subscribe

    Subscribe to the Ask Harry blog

    Loading
    Close

Archives

Monthly Archive for: "December, 2020"
Home /
 Will Medicaid Require Beneficiary Under a Will to Receive Portion of Proceeds in Sale of Family Home?
0
By Harry Margolis
In Long-Term Care Planning, Wills
Posted December 29, 2020

Will Medicaid Require Beneficiary Under a Will to Receive Portion of Proceeds in Sale of Family Home?

Question: Is a life estate vested and effective if it’s created in a will which also requires the sale of the property (presumably terminating the life estate) and division of proceeds [...]

READ MORE
 What are the Implications of having Accounts Payable to Non-U.S. Citizens?
0
By Harry Margolis
In Non-US Citizens
Posted December 29, 2020

What are the Implications of having Accounts Payable to Non-U.S. Citizens?

Question: My wife and I are US citizens and are planning in case we both died at the same time. We have non-US citizen family living abroad that we want to designate as beneficiaries on our [...]

READ MORE
 What are Rules for Non-US Citizen Widow to Inherit IRA?
0
By Harry Margolis
In Non-US Citizens, Retirement Plans
Posted December 24, 2020

What are Rules for Non-US Citizen Widow to Inherit IRA?

Question: I am a non-US citizen married to a US citizen who recently died. What is the procedure for me to inherit my late husband’s IRA? I am the executor of his will, which leaves his [...]

READ MORE
 Can Medicaid Take My Dad’s House?
0
By Harry Margolis
In Long-Term Care Planning
Posted December 19, 2020

Can Medicaid Take My Dad’s House?

Question: I am power of attorney for my dad who recently passed away. I received a letter from our state Medicaid agency stating dad owes $194,000. I have been paying his house taxes and flood [...]

READ MORE
 Should QTIP Election Be Made on MA Estate Tax Return for Non-Resident Decedent with Property in Massachusetts?
0
By Harry Margolis
In Estate and Gift Taxes
Posted December 19, 2020

Should QTIP Election Be Made on MA Estate Tax Return for Non-Resident Decedent with Property in Massachusetts?

Question: I’m hoping you can explain a bit about QTIP trusts. My father passed away and his trust divides his assets between a credit shelter trust and a marital trust (mother is still [...]

READ MORE
 What’s the Best Way to Amend a Will?
0
By Harry Margolis
In Wills
Posted December 13, 2020

What’s the Best Way to Amend a Will?

Question: I am attempting to help a friend add an addendum to his will for the purpose of naming a person to dispose of his personal household contents. He has a trustee named for his trust but [...]

READ MORE
 Can Wife Transfer Interest in Florida Property to Husband and Get Medicaid Coverage in Massachusetts?
0
By Harry Margolis
In Long-Term Care Planning
Posted December 7, 2020

Can Wife Transfer Interest in Florida Property to Husband and Get Medicaid Coverage in Massachusetts?

Question: My wife will need to move to a nursing home memory care facility within 6 months. We own our home in Massachusetts and I understand as the community spouse I can stay in the home. (It [...]

READ MORE
 Will Property in an Irrevocable Trust with a Power of Appointment Receive a Step-Up in Basis?
0
By Harry Margolis
In Irrevocable Trusts, Real Estate
Posted December 7, 2020

Will Property in an Irrevocable Trust with a Power of Appointment Receive a Step-Up in Basis?

Question: If my mother transfers real estate into 3 separate nominee trusts and her irrevocable trust is the 100% beneficiary of each, does the transfer result in a capital gains tax and a [...]

READ MORE
 Am I Protected if My Husband with a Life Estate Dies Before Me?
4
By Harry Margolis
In Real Estate
Posted December 1, 2020

Am I Protected if My Husband with a Life Estate Dies Before Me?

Question: My husband and I are both in our mid sixties and his son suggested that we build a house on his property and offered to give my husband a life estate in the property. If my husband dies [...]

READ MORE
Categories
  • Asset Protection (37)
  • Charitable Giving (11)
  • Durable Powers of Attorney (52)
  • Estate and Gift Taxes (69)
  • Guardianship and Conservatorship (9)
  • Health Care Directives (14)
  • Housing and Urban Development (HUD) (1)
  • Irrevocable Trusts (76)
  • Long-Term Care Planning (190)
  • Non-Traditional Families (17)
  • Non-US Citizens (40)
  • Pets (6)
  • Practical Matters (17)
  • Probate (62)
  • Property in Other Countries (6)
  • Real Estate (114)
  • Retirement Plans (25)
  • Revocable Trusts (144)
  • Second Marriages (12)
  • Social Security (20)
  • Special Needs Planning (96)
  • Trustee (55)
  • Vacation Homes (5)
  • Wills (67)
© All Rights Reserved  |  Privacy Policy

Start typing and press Enter to search

Wondering if a trust makes sense for you?

This comprehensive guide provides all you need to know (in plain English).

Get the Book
(An Amazon Prime Reading selection)

Harry Margolis book: The Baby Boomers Guide to Estate Planning

Read Sample Chapters

Wondering if a trust makes sense for you?

This comprehensive guide provides all you need to know (in plain English).

Harry Margolis book: The Baby Boomers Guide to Estate Planning

Get the Book
(An Amazon Prime Reading selection)

Read Sample Chapters

subscribe