Estate planning lets you protect your wishes and leave behind a legacy. But many people have yet to take care of this essential process. According to a survey by Caring.com, only 4 out of 10 adults in the U.S. have created either a living will or a trust. If you have...
Trusts
Could a Medicaid Asset Protection Trust help you?
When you need assistance under Medicaid, including for long-term nursing care, you may face obstacles due to the asset limit imposed by the federal program. Elderly people in New York applying for Medicaid coverage for long-term care typically face an asset limit of...
Using a special needs trust to provide for your disabled child
As the parent of a disabled child, you probably have some concern about your son’s or daughter’s future. If you want to continue to provide for your child after your death, you may want to consider forming a special needs trust. A special needs trust does not...
What should I know about a Medicaid trust?
In order to qualify for Medicaid, your income and resources must be below a particular limit. Otherwise, you would have to spend your assets down so you can receive Medicaid benefits. However, you might be able to retain some of your financial assets by placing them...
How can a generation-skipping trust protect family assets?
If you and your spouse have accumulated a considerable amount of wealth over the years, you likely have concerns about how to preserve these assets so as to pass them on to your children and other descendants. Under most circumstances, you likely can accomplish this...
What is a living trust?
If you do not yet have a will or living trust, you are not alone, as 6 in 10 Americans have yet to create these estate planning documents, states a survey produced by Caring.com. One of the reasons why you may not have a living trust is that compared with a will, you...
Three benefits of setting up a revocable living trust
Designating what will happen with your assets and properties after your death or incapacitation is an important step for anyone, regardless of where they are in life. If you are wondering whether to set up a trust for your loved ones, consider the following benefits...
