Tag Archives: "Trust"

What happens to your Assets if you die without a will
What happens to your Assets if you die without a will?
You work hard your whole life saving and investing to have a great retirement.  If you were not able to spend all your money before your death, you want to make sure those hard-earned assets are passed to intended family members and/or friends.  Without a Will, your assets could be left to your State of domicile. When a person dies without a Will it is called intestate. Your property will pass through the probate process and the courts will decide...

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Will vs. Trust – What Do I Need?
Will vs. Trust – What Do I Need?
People work hard throughout their life to provide for their families while living and even after death.  We often have ideas and wishes as to what and where those items/monies go to.  Regardless of your means, you have an estate and there are several strategies to choose from to ensure those assets are distributed according to your wishes and in a timely fashion. We call it your Estate Plan. The right strategy depends on your circumstance. For some, a...

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Irrevocable Trust in Medicaid Planning
The Importance of Using an Irrevocable Trust in Medicaid Planning
People often wonder about the importance of utilizing an Irrevocable Trust in Medicaid Planning. Undoubtedly, the gifting of assets can be done outright. So, why confuse things with a trust? The answer is that the gift transaction costs are only a portion of what needs to be considered. Many significant advantages that can result from gifting in trust are forfeited by the outright gifting. These advantages show the importance in utilizing Irrevocable Trusts in Medicaid and asset protection planning. The...

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