Using an Intentionally Defective Grantor Trust to Transfer Assets
An intentionally defective grantor trust (IDGT) is a common estate planning tool that is used by wealthy families to transfer assets from one generation to the next while achieving significant tax savings. IDGTs are especially
Requiring Adult Children to Pay for Aging Parents’ Care
Did you know you could be responsible for your parents' unpaid bills? More than half of all States currently have laws making adult children financially responsible for their parents, including their long-term care costs. Among
The Tax Consequences of Selling a House After the Death of a Spouse
If your spouse dies, you may have to decide whether or when to sell your house. There are some tax considerations that go into that decision. The biggest concern when selling property is capital gains
When a Social Security Recipient Dies, Survivors May Be Eligible for Benefits
When loved ones pass away, there are lots of considerations, including what happens to their Social Security. The decedent’s payments need to be stopped, but survivor’s benefits may be available to the spouse or, in
What Documents Are Required for a Medicaid Application?
Medicare and health insurance don’t pay for long-term nursing home care. Medicaid, does, but impoverishment is the price of admission to the Medicaid program. Proper planning enables one to qualify for Medicaid benefits while protecting
Why You May Need a Trust in Addition to a Power of Attorney
By Stanley M. Vasiliadis, Esq., CELA While a durable general power of attorney that appoints someone to act for you if you become incapacitated is a great tool, in some circumstances it is not enough.
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