Question: I own a variable annuity with large gains in the account. My understanding is that when I die my spouse can become the owner without incurring any income taxes due (no estate tax will [...]

Question: I am 72 years old and in fair to poor health. My wife is 70 and in good health. We have two children—42 and 40. We own our home mortgage-free and have several thousand dollars in mutual [...]

Question: Hi. Settlor’s (mother) assets were funded into into family trust. Her annuity was the only asset NOT funded into the trust. In 2014, a Certification of Trust was implemented for [...]

Under rules described here, if the spouse of a nursing home resident (the “community” spouse) has income below an amount determined by the state Medicaid agency to be the minimum he [...]

Trusts are often used in Medicaid planning to shelter assets without completely giving them away, most often to protect homes, so that the owner can live in the house with knowledge that it will [...]