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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: "April, 2022"
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 In What State Should Trustee File Return for Out-of-State Trust?
0
By Harry Margolis
In Irrevocable Trusts, Trustee
Posted April 29, 2022

In What State Should Trustee File Return for Out-of-State Trust?

Question: I live in New Mexico and am the sole trustee of a trust created in Colorado which is also where over 90% of the trust assets are located. I am paid compensation. To which state do I owe [...]

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 Should Estate Plan with Various Businesses and Beneficiaries Include a Trust?
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By Harry Margolis
In Real Estate, Revocable Trusts, Second Marriages
Posted April 25, 2022

Should Estate Plan with Various Businesses and Beneficiaries Include a Trust?

Question: I’m 65, collecting Social Security, own a condo, and own a building in which I operate a restaurant. The restaurant pays rent to an LLC  of which I’m the sole owner. I have a will [...]

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 Can My Children in India be Beneficiaries of My Living Trust?
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By Harry Margolis
In Non-US Citizens, Real Estate
Posted April 22, 2022

Can My Children in India be Beneficiaries of My Living Trust?

Question: I want put a house in California into a living trust. One of my daughters lives in the United States but my other two adult children are in India. Can my other children be beneficiaries [...]

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 Would Home of Non-Married Couple Have to be Sold if One Moved to a Nursing Home?
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By Harry Margolis
In Long-Term Care Planning, Non-Traditional Families
Posted April 19, 2022

Would Home of Non-Married Couple Have to be Sold if One Moved to a Nursing Home?

Question: My partner and I are in our 70’s and not married but all of our assets are in both our names. How will this affect us as far as our home if one was to have to go into a nursing [...]

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 Are Separate Trusts or a Joint Trust Better for Protecting Spousal Assets?
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By Harry Margolis
In Asset Protection, Revocable Trusts
Posted April 15, 2022

Are Separate Trusts or a Joint Trust Better for Protecting Spousal Assets?

Question: I read your article on family protection trusts and have several questions regarding such. When creating a revocable trust for my wife and I, I was told by an attorney in my state [...]

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 How Can We Set Up a Scholarship Fund?
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By Harry Margolis
In Charitable Giving
Posted April 11, 2022

How Can We Set Up a Scholarship Fund?

Question: How Can We Set Up a Scholarship Fund? A friend’s nephew recently passed (suddenly and tragically) and she wants to set up a scholarship fund (so far about $80k raised). She is [...]

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 Does a New Medicaid Look-back Period Begin Every Time Transfers are Made to Trust?
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By Harry Margolis
In Long-Term Care Planning
Posted April 8, 2022

Does a New Medicaid Look-back Period Begin Every Time Transfers are Made to Trust?

Question: We all hear about the 5-year Medicaid look-back period of an irrevocable trust and after the 5 years your assets are protected. What if you put an asset into the trust one week before [...]

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 Can I Be Trustee of My Own Special Needs Trust?
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By Harry Margolis
In Special Needs Planning
Posted April 4, 2022

Can I Be Trustee of My Own Special Needs Trust?

Question: I live in Illinow. and am in the process of getting a divorce. I’m 61.5 years and have Parkinson’s and I am of sound mind and want to set up a first-party special needs [...]

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 Will Massachusetts Vacation House in Trust Receive Step-Up in Basis?
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By Harry Margolis
In Estate and Gift Taxes, Real Estate
Posted April 1, 2022

Will Massachusetts Vacation House in Trust Receive Step-Up in Basis?

Question: My parent placed her Massachusetts vacation home in a revocable realty trust and included her two living adult children and herself in this trust. She apparently did this to avoid [...]

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Categories
  • Asset Protection (37)
  • Charitable Giving (11)
  • Durable Powers of Attorney (52)
  • Estate and Gift Taxes (69)
  • Guardianship and Conservatorship (10)
  • Health Care Directives (14)
  • Housing and Urban Development (HUD) (1)
  • Irrevocable Trusts (76)
  • Long-Term Care Planning (192)
  • Non-Traditional Families (17)
  • Non-US Citizens (40)
  • Pets (6)
  • Practical Matters (17)
  • Probate (64)
  • Property in Other Countries (6)
  • Real Estate (117)
  • Retirement Plans (25)
  • Revocable Trusts (144)
  • Second Marriages (12)
  • Social Security (20)
  • Special Needs Planning (97)
  • Trustee (55)
  • Vacation Homes (5)
  • Wills (68)
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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

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