News & Resources

Transitioning a family business to the next generation very often involves gifting ownership. Here are some tips on gifting ownership to the next generation: 1. Gifting needs to be part of an overall succession strategy. While gifting ownership in a family business is very common, it would be very problematic to make a gift without… continue reading

At first, it may seem like a responsible idea to put your important estate planning documents into a safe deposit box at a bank, where the documents will be safe and protected. But storing your documents this way could result in unintended consequences upon your death. If a Personal Representative (PR) or Trustee has not… continue reading

You may have created a trust to protect your assets if you need nursing home care or, you may advise clients who have done this.  I am going to call this type of trust a Medicaid Asset Protection Trust. As you probably remember, five years must pass before the assets in this trust are protected. … continue reading

A couple months back, I wrote about the Medicaid Rules, how they apply to your home, and introduced the Medicaid Asset Protection Trust.  This month, I would like to further explain the Medicaid Asset Protection Trust and how it is used to protect your home. To start, let’s review the general structure of a Medicaid… continue reading

A trust is a great way to ensure that your final bills will be paid, your personal property will be distributed, and your remaining assets will be distributed or held in trust per your wishes.  A trust also allows for someone to manage the trust assets for your benefit while you are still alive but… continue reading