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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: "December, 2021"
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 Is Property in an S Corp or LLC Counted for Medicaid Eligibility?
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By Harry Margolis
In Long-Term Care Planning
Posted December 27, 2021

Is Property in an S Corp or LLC Counted for Medicaid Eligibility?

Question: In Virginia is property owned in an S corporation and or LLC counted as an asset when applying for Medicaid? Response: While I don’t know about Virginia in particular, I [...]

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 Will Gifts to Children and Grandchildren Over $16,000 be Taxed?
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By Harry Margolis
In Estate and Gift Taxes
Posted December 17, 2021

Will Gifts to Children and Grandchildren Over $16,000 be Taxed?

Question: My wife and I are in our early 80s with two daughters and a grandson. Our estate is approximately $5.5 million. We have enough pension resources so we do not withdraw any money from [...]

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 Can Trustee Sell House in Trust if Maintenance Funds are Unavailable?
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By Harry Margolis
In Long-Term Care Planning, Revocable Trusts
Posted December 13, 2021

Can Trustee Sell House in Trust if Maintenance Funds are Unavailable?

Question: If my parents have a revocable trust that gives life use to their home to my sister after they have passed and she cannot pay for the expenses (taxes, insurance etc) of maintaining the [...]

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 If My House is Not in My Revocable Trust, Will It have to Go Through Probate?
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By Harry Margolis
In Revocable Trusts
Posted December 10, 2021

If My House is Not in My Revocable Trust, Will It have to Go Through Probate?

Question: If a house is inadvertently omitted from being transferred into my revocable living trust, is there a set aside procedure at my death or is the property required to be included in a [...]

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 Will My Home in a Living Trust Avoid Medicaid Estate Recovery in Oregon?
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By Harry Margolis
In Long-Term Care Planning
Posted December 7, 2021

Will My Home in a Living Trust Avoid Medicaid Estate Recovery in Oregon?

Question: Pursuant to a question you answered recently, I’d like a semantic clarification: the person had asked about Medicaid seeking reimbursement from the sale of his house. You said: [...]

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 What Can I Do If Sister Trustee Refuses to Communicate about the Trust?
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By Harry Margolis
In Irrevocable Trusts
Posted December 3, 2021

What Can I Do If Sister Trustee Refuses to Communicate about the Trust?

Question: In 2009, I developed seizures. I had a typical trust that when mother died my sister and I were to be co-trustees. In 2015, I was told that if the seizures continued I would only live [...]

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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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