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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

Author Archive for: "harry"
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 How Does Medicaid Estate Recovery Work when a Testamentary Trust is Involved?
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By Harry Margolis
In Long-Term Care Planning, Probate, Wills
Posted August 9, 2022

How Does Medicaid Estate Recovery Work when a Testamentary Trust is Involved?

Question: What if an unknown Medicaid estate recovery claim pops up, and the surviving spouse is not an explicit heir, but rather beneficiary of a testamentary trust? How does delayed recovery [...]

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 What Legal Rights Does “Widowed” Partner have in Absence of Marriage?
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By Harry Margolis
In Non-Traditional Families, Probate
Posted August 5, 2022

What Legal Rights Does “Widowed” Partner have in Absence of Marriage?

Question: The love of my life died from Covid in mid-January. We were together for 15 years but for religious reasons we never “married.” He was just 38 years old. We were always both [...]

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 What is Required for a Nonjudicial Trust Settlement in Massachusetts?
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By Harry Margolis
In Irrevocable Trusts
Posted August 1, 2022

What is Required for a Nonjudicial Trust Settlement in Massachusetts?

Question: I have just read all your posts regarding irrevocable trusts. They were very significantly informative! Thank you. I am one of two co-trustees of an irrevocable trust (in [...]

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 Should My Parents Put their Home in My Name?
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By Harry Margolis
In Long-Term Care Planning
Posted July 29, 2022

Should My Parents Put their Home in My Name?

Question: My parents are thinking of putting their primary and only residence into my name so they would qualify for reduced rates in a residential facility if need be. The home is worth about [...]

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 What Happens When Grantor of Revocable Trust LLP Partner Dies?
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By Harry Margolis
In Irrevocable Trusts
Posted July 25, 2022

What Happens When Grantor of Revocable Trust LLP Partner Dies?

Question: In a small business LLP, can a Partnership issue K-1’s in name and Social Security number of the Trustee or must it be in name of the Trust, if the Trust is listed as a Limited Partner? [...]

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 What Dates Matter for the Medicaid Transfer Penalty?
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By Harry Margolis
In Long-Term Care Planning
Posted July 15, 2022

What Dates Matter for the Medicaid Transfer Penalty?

Question: Can you clarify some benchmark dates for making a long-term care Medicaid application? Does the five-year look-back period start (or end) on the same date as the date of the mailed-in [...]

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 How Will Securities in Inherited IRA be Valued When They are Sold?
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By Harry Margolis
In Retirement Plans
Posted July 6, 2022

How Will Securities in Inherited IRA be Valued When They are Sold?

Question: I inherited a traditional IRA from my mother; I am the sole beneficiary. I am leaning toward liquidating the securities but I wanted to understand how that is accomplished. I assumed [...]

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 Must SSI Beneficiary Begin Taking Social Security Retirement at Age 62?
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By Harry Margolis
In Social Security, Special Needs Planning
Posted July 1, 2022

Must SSI Beneficiary Begin Taking Social Security Retirement at Age 62?

Question: I wanted to confirm that an SSI recipient must apply for their Social Security benefits when they turn 62 based on a friend’s recent personal experience. About 10 weeks after [...]

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 How Can Medicaid Beneficiary Use Inheritance to Update Bathroom?
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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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page 1 of 56
Categories
  • Asset Protection (34)
  • Charitable Giving (10)
  • Durable Powers of Attorney (41)
  • Estate and Gift Taxes (47)
  • Guardianship and Conservatorship (4)
  • Health Care Directives (12)
  • Irrevocable Trusts (42)
  • Long-Term Care Planning (158)
  • Non-Traditional Families (15)
  • Non-US Citizens (20)
  • Pets (3)
  • Practical Matters (15)
  • Probate (29)
  • Property in Other Countries (4)
  • Real Estate (52)
  • Retirement Plans (17)
  • Revocable Trusts (92)
  • Second Marriages (10)
  • Social Security (18)
  • Special Needs Planning (67)
  • Trustee (51)
  • Vacation Homes (3)
  • Wills (44)
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This simple-yet-comprehensive guide provides everything you need to know (in plain English).

Harry Margolis book: The Baby Boomers Guide to Estate Planning

Get the Book

Read Sample Chapters

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