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A Revocable Living Trust (RLT) or an Irrevocable Medicaid Asset Protection Trust (MAPT) Generally the client will have one of these trusts or the other, not both. The MAPT is used where protection of assets is required in the absence ...
For example, you may delay large bequests until children or grandchildren are older or give it to them in stages so that they have the chance to make some mistakes with the money without jeopardizing the whole inheritance.
We make sure that your estate is under the limit at the time of your death by previously gifting excess funds to Inheritance Protection Trusts (IPT's) for your children. These may be arranged for you to be in control or ...
These trusts are ideal for those who are in second or later marriages and are confronted with balancing the needs of their surviving spouse when they die while still providing an inheritance for their children from a prior marriage.
A plan should be in place to protect assets from long-term costs. Like a chess player, counsel should look ahead two or three moves in order to determine what may happen in the future.
While inheriting from a will or trust at death eliminates taxable capital gains for the survivor, joint tenancy only eliminates one-half of those capital gains since you are only “inheriting” one-half of the property. Secondly, you may be exposed to ...
The reasoning behind these Special Needs Trusts is simple — prior to the protection now afforded by these trusts, parents would simply disinherit their disabled children rather than see them lose their benefits.
Inheritance Trust: A stand-alone, revocable trust which is created to hold a beneficiary's share of their inheritance, offering them protection from creditors, lawsuits and divorces. Living Will: A document which expresses your desire not to be kept alive by medical ...
A trust can also help protect your assets from long-term care costs, can help you avoid hefty estate taxes, and can keep more of your hard-earned assets in the hands of your loved ones. The elder law attorneys at Ettinger ...
We also help to protect assets from being depleted due to long-term care costs. Medicaid Asset Protection Trusts (MAPT's) may be established, subject to a five-year look-back period for facility care to protect the client's home and other assets from ...
