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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, 2024"
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 Can House in an Irrevocable Trust Get a Mortgage?
0
By Harry Margolis
In Irrevocable Trusts, Real Estate
Posted December 27, 2024

Can House in an Irrevocable Trust Get a Mortgage?

Question: My parents and sister bought a house together in January 2024 with the intent to live in it together. My parents own 2/3 of the property and my sister 1/3. My parents’ 2/3 of the [...]

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 How Can My Father Sign His Power of Attorney If He’s Physically Unable to Do So?
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By Harry Margolis
In Durable Powers of Attorney
Posted December 20, 2024

How Can My Father Sign His Power of Attorney If He’s Physically Unable to Do So?

Question: My father is trying to create a power of attorney, but he had surgery and lost the use of his hand. How does he proceed if he is not able to sign the power of attorney form? Response: [...]

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 Can a Son-in-Law or His Trust Serve as a Section 8 Landlord?
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By Harry Margolis
In Real Estate, Special Needs Planning
Posted December 18, 2024

Can a Son-in-Law or His Trust Serve as a Section 8 Landlord?

Question: Can my mother use her Section 8 voucher to rent from my husband (her son-in-law) or the trust that he owns? Response: Probably not from him directly, but perhaps from his trust. Family [...]

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 Are Capital Gains Taxed to the Estate or the Heirs?
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By Harry Margolis
In Probate
Posted December 16, 2024

Are Capital Gains Taxed to the Estate or the Heirs?

Question: My father died in 2022. I was named the personal representative of his estate and sold his stock in his investment account in 2024 before distributing the proceeds to all my siblings. [...]

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 Can Florida Be My Residence If I Spend More Time in Wisconsin?
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By Harry Margolis
In Vacation Homes
Posted December 13, 2024

Can Florida Be My Residence If I Spend More Time in Wisconsin?

Question: If I live in Wisconsin for 162 days and in Florida for 160 days and travel outside of both states for the remaining 43 days of the year, can I qualify as a Florida resident. Does it [...]

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 What Rights Does Medicaid Estate Recovery Waiver Give Disabled Heir?
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By Harry Margolis
In Long-Term Care Planning, Probate, Real Estate, Special Needs Planning
Posted December 11, 2024

What Rights Does Medicaid Estate Recovery Waiver Give Disabled Heir?

Question: If a disabled adult child clause has prohibited the Medicaid estate recovery on her dad’s estate, can the probate attorney who advised the sale of the property then divide the proceeds [...]

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 How Long Does It Take to Settle ABLE Account After Beneficiary’s Death?
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By Harry Margolis
In Special Needs Planning
Posted December 9, 2024

How Long Does It Take to Settle ABLE Account After Beneficiary’s Death?

Question: I understand that ABLE funds are subject to pay back if the state chooses to do so. Where a state statute (NJ) gives the state up to 3 years after receiving notice of death of a [...]

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 How are Capital Gain and Section 121 Exclusion Allocated on Sale of Life Estate?
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By Harry Margolis
In Real Estate
Posted December 7, 2024

How are Capital Gain and Section 121 Exclusion Allocated on Sale of Life Estate?

Question: Can the Section 121 $250,000 capital gains tax exclusion apply when home is the remainderman’s principal residence? The property is in a life estate and both the life tenant and the [...]

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 Can Nursing Home Resident Co-Sign Loan?
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By Harry Margolis
In Long-Term Care Planning
Posted December 4, 2024

Can Nursing Home Resident Co-Sign Loan?

Question: My husband is a long-term patient in a nursing home and is on Medicare and Medicaid. Can he be a co-signer on a student loan for his granddaughter? There are no assets in his name but [...]

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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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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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