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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: "June, 2022"
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 How Can Medicaid Beneficiary Use Inheritance to Update Bathroom?
0
By Harry Margolis
In Special Needs Planning
Posted June 28, 2022

How Can Medicaid Beneficiary Use Inheritance to Update Bathroom?

Question: I have been getting Medicaid in-home assistance for approximately two years I am getting a unexpected check from an inheritance that I plan to use to replace a tub with a shower. But I [...]

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 Are Trust Distributions on Behalf of a Medicaid Beneficiary Taxable Income?
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By Harry Margolis
In Long-Term Care Planning
Posted June 24, 2022

Are Trust Distributions on Behalf of a Medicaid Beneficiary Taxable Income?

Question: I understand that trust distributions are not generally income for Medicaid purposes when paid to a provider of services rather than directly to the beneficiary (and presumably would [...]

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 Can We Name Our Out-of-State Friends as Guardians of our Children?
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By Harry Margolis
In Guardianship and Conservatorship, Wills
Posted June 20, 2022

Can We Name Our Out-of-State Friends as Guardians of our Children?

Question: My wife and I want to make a living will to appoint our married couple friends as guardians of our minor children in the event that both of us pass away. We live in Arkansas and our [...]

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 What Taxes will Non-U.S. Citizen Daughter have to Pay When Inheriting Our Estate?
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By Harry Margolis
In Non-US Citizens
Posted June 17, 2022

What Taxes will Non-U.S. Citizen Daughter have to Pay When Inheriting Our Estate?

Question: My wife and I are both US citizens and intend to leave our entire estate to each other depending on who lives longer. I have a daughter who is a UK citizen living in Malta and she is [...]

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 Must I Put My Home in Trust to Protect it from Medicaid?
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By Harry Margolis
In Irrevocable Trusts, Long-Term Care Planning
Posted June 13, 2022

Must I Put My Home in Trust to Protect it from Medicaid?

Question: Is it necessary to put assets into a trust, and does this protect your home from Medicaid? Response: It’s certainly not necessary to place assets into a trust, but trusts can [...]

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 Can Heirs Take a Capital Loss on Return of 90% of CCRC Deposit?
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By Harry Margolis
In Long-Term Care Planning
Posted June 10, 2022

Can Heirs Take a Capital Loss on Return of 90% of CCRC Deposit?

Question: My question is concerning stepped up value for an inheritance from a CCRC – Continuing Care Residential Community. The buy-in was $375,000 after death the return is 90%. Is the [...]

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 Can Medicaid Estate Recovery Claim Against My Estate for My 20-Year-Old Benefits?
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By Harry Margolis
In Long-Term Care Planning, Probate
Posted June 8, 2022

Can Medicaid Estate Recovery Claim Against My Estate for My 20-Year-Old Benefits?

Question: I have been on expanded Medicaid for three years. I am 61 years old. Is expanded Medicaid still subject to estate recovery? If I go off Medicaid now and don’t die till I’m, [...]

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 How Can I Protect My Accident Settlement and My SSI and Medicaid Benefits?
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By Harry Margolis
In Special Needs Planning
Posted June 6, 2022

How Can I Protect My Accident Settlement and My SSI and Medicaid Benefits?

Question: I am 60, disabled, and on SSI and medicaid. I was recently in a car accident, and am expecting a decent sized (about $60K) settlement. I do not want to lose my SSI and Medicaid [...]

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 What’s the Capital Gain on the Sale of House I Owned with my Mother?
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By Harry Margolis
In Real Estate
Posted June 3, 2022

What’s the Capital Gain on the Sale of House I Owned with my Mother?

Question: I am in San Diego, California, and am looking to sell my primary residence that I’ve owned (as a joint tenant with the right to survivorship) with my mom. As I now own the [...]

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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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