The Academy takes learning seriously. The Academy’s Spring Summit included numerous substantive legal education sessions, as well as sessions on marketing and law office management. The virtual conference also included opportunities for networking and fun. Read on to learn more. … [Read more...] about Learning and Camaraderie at the Academy Summit
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ABLE Accounts Complement Special Needs Trusts
ABLE accounts are a nice, flexible way to supplement the usefulness of a Special Needs Trust. But certain limits apply. Read on to learn more. … [Read more...] about ABLE Accounts Complement Special Needs Trusts
Plan Now for the Incredible Shrinking Exclusion
There is a great deal of legislation pending and much is uncertain. But this much is certain, the estate tax exclusion will go down by half beginning 2026 under current law. Now is the time to plan for your clients and yourself. Read on to learn more. … [Read more...] about Plan Now for the Incredible Shrinking Exclusion
Legacy Planning: Medi-Cal Should Be on Your Radar
Your legacy can fall into place haphazardly if you do not think about the events that will take place after you pass away. On the other hand, you can proactively consider the impact of your actions (or inaction) from an estate planning perspective. Wealth Preservation When you are planning for retirement, you have to consider your own needs as a senior citizen first and foremost. You will make projections with regard to the expenses that you expect to incur and create a retirement plan that … [Read more...] about Legacy Planning: Medi-Cal Should Be on Your Radar
Keep It Simple With a Living Trust
There is a commonly held misconception that many people harbor about estate planning. A will is looked upon as a simple document that you can use to state your final wishes in a simple and straightforward manner. Trusts are perceived as complicated devices that are used by very high net worth individuals that have estate tax concerns. These assumptions are false. The administration of a will is not that simple at all, and there are trusts are very useful for people that are not … [Read more...] about Keep It Simple With a Living Trust
Now Is the Time to Schedule an Estate Plan Review
The COVID-19 pandemic has placed our lives into an extended state of suspended animation in many ways. We have been forced to put certain responsibilities on the back burner, but now that there is widespread vaccine availability, the great thaw is happening before our eyes. From an estate planning perspective, it is time to revisit your plan with an attorney so you can make the necessary revisions. In addition to the fact that there is no reason to procrastinate any longer, there are some … [Read more...] about Now Is the Time to Schedule an Estate Plan Review
Incapacity Planning: Prepare for the Twilight Years
Estate planning is often looked upon as a purely financial endeavor, and this is definitely a large part of the process. At the same time, you should also address the eventualities that you may face during your twilight years. Aging, Alzheimer’s Disease, and Incapacity Your life expectancy is at least 85 years after you celebrate your 67th birthday, and Alzheimer’s disease is quite common among people in this age group. The Alzheimer’s Association tells us that 32 percent of the oldest old … [Read more...] about Incapacity Planning: Prepare for the Twilight Years
These Four Trusts Fly Under the Radar
You should work with an attorney to develop your estate plan because as a layperson, there is no reason why you would understand all the tools that are available to you. There are many different types of trusts that can satisfy specific objectives, and you should be aware of your options. We endeavor to explain them here on this blog, and in this post, we will look at four trusts that typically fly under the radar. Secret Trusts The “secret trust” is a legal device that was sometimes used … [Read more...] about These Four Trusts Fly Under the Radar
Do IRA Transfers to a Beneficiary Go Through Probate?
An individual retirement account can ultimately be part of your estate if you are not going to need the money when you are a senior. Probate is the legal process of estate administration, and some asset transfers are subject to probate after someone passes away. This process is time-consuming and expensive, and the records are available to the general public. Because of these drawbacks, people often try to avoid it. This begs a question: does an individual retirement account transfer go … [Read more...] about Do IRA Transfers to a Beneficiary Go Through Probate?
Does Medicaid Recover the Remainder in a Special Needs Trust?
People sometimes hear bits and pieces about certain aspects of the estate planning process, and they come away with misconceptions that are built on kernels of truth. This will sometimes enter the picture when it comes to the interpretation of Medicaid estate recovery. In this post, we will look at the subject as it applies to assets that remain in a special needs trust. Government Benefit Eligibility Most Americans get health insurance through their jobs, but many people with disabilities … [Read more...] about Does Medicaid Recover the Remainder in a Special Needs Trust?
