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parent of a disabled child is to speak to an estate lawyer in Houston to establish a special needs trust The best solution is to create a third-party special needs trust or SNT. A trust is an asset administered by a third-party trustee on behalf of a beneficiary. The money in the trust is belongs to the trust and is spent solely on behalf of the beneficiary. The trust can help to cover costs beyond what Medicaid and SSI provide, like dental care, transportation

worked with an experienced and reputable estate planning attorney and the wording of his will and/or trust Battles Coming For Muhammad Ali Estate, But It Should Emerge Victorious” #Probate #Inheritance #Wills #Trusts

While you’re at it, put all other estate planning documents in place, like a will, trusts, powers of #AssetProtection #Will #PrenuptialAgreement #PowersofAttorney #HealthCareDirectives #Trusts #estateplanning

agreement is that it frequently can mesh with a person’s estate plan—including life insurance, wills, trusts entering into a second marriage with more assets than the other spouse can leverage a prenup to create a trust When that person dies, the money from the trust is distributed to the children of the first spouse who shouldn’t be a deal breaker in remarriages” #AssetProtection #PrenuptialAgreement #Inheritance #Wills #Trusts

For those who die without a will or trust, their state laws determine to whom estate assets pass. First, know that some families are shattered by jealousy, animosity and a lack of trust when a parent A big reason family wealth erodes is a lack of communication, understanding and trust among family members and encouraging sound investing; talking about methods of transfer—including direct gifts, the use of trusts Wealth Transfer Plan” #AssetProtection #EstatePlanningLawyer #WealthTransferPlan #Inheritance #Wills #Trusts

Because of this, some folks chose to create revocable trusts and pour over their testamentary assets into their trusts. 101.5 (May 27, 2016) “What probate means for your estate” #Intestacy #Executor #ProbateCourt #Wills #Trusts

Death of a trustee, executor or a guardian: If one of the individuals you designated dies or changes estate-planning step” #AssetProtection #Guardianship #EstatePlanningLawyer #WillChanges #Inheritance #Wills #Trusts

IRAs and see-through trust status. How the trust will get taxed as an IRA beneficiary is the big issue in the set-up. Usually, trusts aren’t eligible to leverage stretch-IRA provisions. To receive preferential tax treatment for an IRA beneficiary trust, if the trust qualifies for see-through Requirements for a see-through IRA beneficiary trust.

you turned 70½ in 2015, you were required to take your first required minimum distribution from your IRA The IRA required minimum distribution you take on April 1st is based on the balance in your traditional IRAs as of December 31, 2014, and the second RMD of the year is based on the balance in your IRAs as taxable amount for the current year by making a tax-free transfer to charity of up to $100,000 from your IRA Speak with your IRA administrator and the charity for more information about how to make the transfer

She reportedly requested that Bremer Trust, a corporate trust company, be named administrator of her 26, 2016) “Prince ‘made no will’ for his $300m estate before death” #AssetProtection #Guardianship #TrustsandEstates #Probate #ProbateCourt #Inheritance #Wills #Trusts #estateplanning

Litigation,” usually beneficiaries wait until after a person has passed away to challenge a will or trust in Competency Litigation” #AssetProtection #Incapacity #ProbateCourt #Inheritance #Dementia #Wills #Trusts

net worth which would make you liable for federal estate tax, you should ask your attorney about a trust EstatePlanningLawyer #NoNup #DurablePowerofAttorney #WillCohabitation #PowerofAttorney #Wills #TaxPlanning #Trusts