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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: "May, 2025"
Home /
 What Legal Documents Should Older Adults Have In Place?
0
By Harry Margolis
In Wills
Posted May 30, 2025

What Legal Documents Should Older Adults Have In Place?

Question: What are the legal documents essential for any older adult that covers long-term care and end-of-life wishes? Response: Everyone should have a will, durable power of attorney, health [...]

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 Should I Work with an Estate Planning or an Elder Law Attorney?
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By Harry Margolis
In Long-Term Care Planning
Posted May 28, 2025

Should I Work with an Estate Planning or an Elder Law Attorney?

Question: What is the benefit of ensuring you work with an elder law attorney versus a traditional estate lawyer (cost savings, understanding benefits of Medicare/Medicaid, look back periods, [...]

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 What is Tax Liability on Sale of House Inherited Through Life Estate?
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By Harry Margolis
In Real Estate
Posted May 23, 2025

What is Tax Liability on Sale of House Inherited Through Life Estate?

Question: What is the tax liability be on the sale of a house that was inherited through a life estate? Synopsis: life estate deed signed on 2021; life tenant passed away in 2023; prepared house [...]

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0
By Harry Margolis
In Long-Term Care Planning
Posted May 22, 2025

What Do We Do If Senior Needs Memory Care But Not Nursing Home?

Question: My former spouse (I am his power of attorney and health care proxy) currently resides at a rest home and is in need of a higher level care, preferably an affordable memory care unit. I [...]

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 How Do We Calculate the Capital Gains on Sale of Property In Life Estate?
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By Harry Margolis
In Real Estate
Posted May 9, 2025

How Do We Calculate the Capital Gains on Sale of Property In Life Estate?

Question: My parents created a life estate in Rhode Island. My dad passed away in 2022. The estate attorney noted the value of the home at $852K. Based on the life estate his estate reflected his [...]

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 How Do We Find an Independent Trustee for Special Needs Trust?
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By Harry Margolis
In Special Needs Planning
Posted May 7, 2025

How Do We Find an Independent Trustee for Special Needs Trust?

Question: I am involved with a special needs trust that seems to require an independent trustee, and because of possible conflict between two residuary distributees (after the prime [...]

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 Can I Pass On My $250,000 Capital Gains Exclusion to My Heirs?
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By Harry Margolis
In Real Estate
Posted May 2, 2025

Can I Pass On My $250,000 Capital Gains Exclusion to My Heirs?

Question: I’m 94 years of age and own a home in Massachusetts. When I pass, will my heirs be able to take the $250,000 federal deduction that I would have been entitled to if I have been [...]

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Categories
  • Asset Protection (38)
  • Charitable Giving (11)
  • Durable Powers of Attorney (54)
  • Estate and Gift Taxes (70)
  • Guardianship and Conservatorship (13)
  • Health Care Directives (15)
  • Irrevocable Trusts (77)
  • Long-Term Care Planning (195)
  • Non-Traditional Families (18)
  • Non-US Citizens (42)
  • Pets (6)
  • Practical Matters (17)
  • Probate (65)
  • Property in Other Countries (6)
  • Real Estate (120)
  • Retirement Plans (25)
  • Revocable Trusts (147)
  • Second Marriages (12)
  • Social Security (20)
  • Special Needs Planning (99)
  • 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).

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Harry Margolis book: The Baby Boomers Guide to Estate Planning

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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