Question: How is my fiduciary income from an irrevocable trust taxed. I received $8,880. What IRS forms do I file? Response: I am assuming you are asking as a trust beneficiary. If so, your trust [...]

Question: You mentioned life estates in one of your answers and how they relate to Medicaid. I’ve also heard about life estates with powers, which do not have all the limitations of life [...]

Question: Do the trustees of my dad’s legacy trust need my medical records, along with my benefits letter? Response: Perhaps, though that does sound a bit intrusive. While I haven’t seen the [...]

Question: I am eager to understand how the new Massachusetts estate tax legislation may impact our estate planning strategies. Specifically, I am curious to know whether it includes provisions [...]

Question: My son-in-law’s grandparents died in 2015 and 2016. His mother inherited their home after the estate was probated in Maryland. The deed was transferred to her name in 2017 and my [...]

Question: I am the trustee of an irrevocable trust. I am also on SSDI. Will my trustee pay be included as income. Will it affect my SSDI? Response: Probably not. Unlike Supplemental Security [...]

Question: My youngest brother is a lost soul – lives by himself, hasn’t worked in 20+ years, has no friends or activities that I’m aware of, and supports himself (barely) with money he inherited [...]

Question: What is the best place to deposit SSI benefits for an infant? Response: Supplemental Security Income (SSI) benefits are available to children under age 18 who are disabled and whose [...]

Question: What percentage of present value of a pension is included in CT 706NT? Response: I don’t know about Connecticut in particular, but it likely follows the federal rules. Under those [...]

Question: I am an active duty soldier and my elderly mom lives with me. I want her to try to apply for Medicaid since she is retired and has no income. I pay for everything, starting from rent to [...]