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is just what it sounds like; it is a financial vehicle that “skips” your children’s generation and transfers The primary purpose of a generation skipping trust is to avoid the double round of taxation that comes with the generational transfer of wealth first to your children, and then to your grandchildren. Any nonexempt portion of your transfer to a generation skipping trust will only be taxed once before

This advice comes from The Hartford (CT) Courant in its recent article “Fit to Be Tied? Property owned jointly or exclusively by either spouse is deemed to be marital property when it comes Under the law of some states, a surviving spouse is entitled to the income generated from a third of

During a face-to-face conversation with an experienced attorney, important issues tend to come out, like providing for a grandchild with special needs or an asset that might be difficult to transfer. He or she will work with you to meet your goals and provide the peace of mind that comes from not worrying

As a Houston Will and Trust lawyer, I hope to provide you some guidance in this area. duty to the beneficiaries of the trust, so it is important to always think of their interest when it comes This is especially important when it comes to adults and children with disabilities.

January can be a difficult month for seniors, especially when it comes to prescription costs. Some of her prescriptions will be moving to a different pharmacy, and while she may have prescriptions This is a big step in the right direction, and Kim hopes that they can beat the prices found on Single In conclusion, January can be a difficult month for seniors when it comes to prescription costs, as attorney Additionally, with the recent change in legislation allowing Medicare to negotiate drug prices, there is hope

Some institution is put in charge of administering the trust, but with little oversight. organization has experience, you can also provide guidance on the principles that you want followed when it comes By having your estate planning lawyer include directions for a directed trustee, you can mitigate some of the concerns that come with choosing a family member or giving a financial planner too much leeway arise after your death, but you can determine good approaches for now and potentially give your trustee some

Beneficiaries have a number of choices when it comes to distributing the funds in the account, many of Rule #1: Your Choices for Inherited IRA Distributions Depend on Who You Are When it comes to distributions This helps to ensure that the assets are properly taken care of and enjoyed for many years to come. When it comes to non-spouse beneficiaries, the Secure Act has changed how retirement accounts are distributed

the horizon for Muhammad Ali’s estate and his legacy, according to Forbes ’ recent article “Battles Coming and any other executors appointed to serve would still have to handle claims from people looking for some Reference : Forbes (June 16, 2016) “Battles Coming For Muhammad Ali Estate, But It Should Emerge Victorious

When a loved one passes away, it can bring out the worst in some family members. We will share some of the common tactics we see and offer tips on how to move forward. While each situation has its nuances, there are some common plays we see family members employ to angle Here are some of the typical tactics they tend to use: 1. Sweet-Talking and Sympathy Ploys Some of the most cunning inheritance vultures will initially act very

When these two come together in an individual retirement trust, you can enjoy the tax advantages with an IRA and the long-term control that comes with a trust. planning can ensure you will stay financially sound well into your retirement while you still maintain some

main ways that Medicaid helps today’s in-need seniors is by helping them with the costs of nursing home is Right For You Many seniors consider Medicaid when they discover they are unable to cover nursing home Depending on your unique financial situation, your home or other assets may be at risk if you enroll will review your application and determine if you qualify for Medicaid benefits to cover your nursing home With Medicaid coverage, you must go to a long-term nursing home care facility that is Medicaid certified

While a trust can be used to transfer restrictions and buy-sell agreements to protect the farm, including Of course, prenuptial agreements can be a difficult topic, and some describe them as marriage insurance You hope you never ever need it. However, if you do, then it’s in the drawer. Mr.