When it comes to estate planning, trusts are a crucial tool. They offer flexibility, control, and potential tax advantages. However, not all trusts are created equal. The two primary types of trusts are revocable and irrevocable. While they may appear…
The 5-year Medicaid lookback period, often shrouded in myths and misconceptions, plays a pivotal role in determining your eligibility for Medicaid benefits. Established as part of the Deficit Reduction Act of 2005 and effective from February 8, 2006, this rule…
Estate planning is a critical process that ensures your wealth and assets are passed on to your loved ones as per your wishes after your demise. While there are multiple ways to plan your estate, two common methods include relying…
Estate planning is an essential aspect of life that allows individuals to protect their assets and ensure their loved ones are taken care of after they pass away. For same-sex couples, estate planning is particularly crucial due to the unique…
Properly funding your trust is crucial to ensuring your legacy is protected and distributed according to your wishes. Many people think that by simply creating a trust, their assets are protected. However, funding your trust involves transferring your assets into…
Medicaid preplanning is a legal and financial strategy designed to help individuals protect their assets while still qualifying for Medicaid benefits. Medicaid is a joint federal and state program that provides healthcare coverage for eligible low-income individuals, including coverage for…
There is a structural difference between a partnership and a corporation when it comes to limited liability companies (LLCs). An LLC is a powerful estate planning tool because of the same reasons it is beneficial for financial management for most…
Whether you have concerns about the health and financial welfare of the future or have an older adult loved one in your life, an elder law attorney can optimize your planning. Elder law is a highly specialized area of law…