When it comes to estate planning, trust administration is a critical component. Included in that is the trustee’s role in administering the trust. The trustee is the person who has been chosen to be responsible for complete management of the trust property and other important duties. With Huntersville trust administration, here are several really important facts that a trustee must know to properly fulfill his or her duties. Recognize that Huntersville trust administration can be … [Read more...] about The Ins and Outs of Huntersville Trust Administration
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Useful Probate Tips for Charlotte, NC Residents
Providing for your loved ones after you pass away is a serious endeavor. This involves a final loving gift of all the assets and personal possessions you have accumulated throughout your life. Considering the importance of this gift, you do not want to take chances with the creation of your last will. For this reason, be sure to discuss your options with our Charlotte probate lawyer. Beware of Do-It-Yourself Estate Planning You will see certain companies on the Internet hawking do-it-yourself … [Read more...] about Useful Probate Tips for Charlotte, NC Residents
What Type of Trust Protects Assets?
Securing your wealth is important which is why our estate planning lawyers work with families on effective asset protection strategies. As more than one commenter has observed, getting wealth is one thing; keeping it is something else entirely. That’s true for all of us -- you don’t have to be wealthy for your assets to be at risk. How to Make the Most of Your Insurance Policies For most of us, insurance is the only real asset protection we’ve ever known – though many people may not recognize … [Read more...] about What Type of Trust Protects Assets?
Our Ashland Trust Attorney Explains How a QTIP Trust Works
You can have several different goals for your estate plan but that can sometimes get a little bit tricky. Complexities can arise when you have children from a previous marriage and you get married again. On the one hand, you want to make sure that your new spouse is provided for after your death. On the other hand, you probably want to take care of your children as well. Our Ashland trust attorney wants to tell you about a QTIP trust and how it can improve your estate plan. What Type of Trust … [Read more...] about Our Ashland Trust Attorney Explains How a QTIP Trust Works
What Happens If I Leave Assets Out of My Living Trust?
Our Florence living trust lawyer believes that a living trust can be an effective tool for constructing your estate plan. This is because living trusts are very versatile and are usually a great fit for most people and their goals. You don’t have to be super rich to benefit from a living trust, either. Regardless, if you do not properly fund your trust, there could be serious consequences. Let our Florence living trust lawyer explain what happens if you leave assets out of your … [Read more...] about What Happens If I Leave Assets Out of My Living Trust?
What are the Advantages of an Irrevocable Trust?
The importance of protecting your wealth cannot be overstated. There are many effective strategies that can be used in asset protection planning to benefit you and your family now and in the future. Irrevocable trusts are one strategy, but there are others. If you spend your life accumulating your wealth and assets, you should know your options for protecting them. Keep in mind that you don’t have to be extremely wealth for your assets to be at risk. Using Irrevocable Trusts for Asset … [Read more...] about What are the Advantages of an Irrevocable Trust?
Charlotte Medicaid Attorneys Explain How to Protect Healthy Spouses
When one spouse applies for Medicaid benefits in order to fund long-term healthcare, the other spouse is often referred to as the “healthy spouse” or the “community spouse.” If you know anything about Medicaid benefits, you know that protecting your assets from Medicaid recovery is typically a concern, this concern grows when there is a healthy spouse involved. Let our Charlotte Medicaid attorney explain strategies for protecting the healthy spouse while applying for Medicaid benefits. Medicaid … [Read more...] about Charlotte Medicaid Attorneys Explain How to Protect Healthy Spouses
Estate Planning vs Will: What is the Difference?
We all know that death is an inescapable part of life. With that realization comes the need to plan, in some way, for this eventuality. Believe it or not, most Americans do not have an appropriate plan for what happens to their estate after their deaths. A common question that many clients have when they first begin to consider the need for estate planning is: what is the different between estate planning and having a will? In other words, aren’t they the same thing? Not at all. Estate Planning … [Read more...] about Estate Planning vs Will: What is the Difference?
What Assets Can You Have and Still Qualify for Medicaid?
Medicare will pay for covered medical expenses and convalescent care after surgery, but it will not pay for long-term custodial care. This type of care is very expensive, and most people cannot comfortably pay out-of-pocket. As a result, many elders seek Medicaid eligibility, because Medicaid will pay for long-term care. Medicaid pays for the majority of the long-term care that is received by seniors in the United States. Why would this be the case when most people are going to qualify for … [Read more...] about What Assets Can You Have and Still Qualify for Medicaid?
Huntersville Living Trust Compared to the Last Will and Testament
Although most people believe that estate planning involves only creating a last will and testament, a will is not always the best option and it is certainly not the only one. If you use a will to state your final wishes, your heirs will receive lump-sum inheritances. However, everyone is not good at managing money, and this can be disconcerting. Let our Huntersville living trust attorney explain how using a living trust can be a better choice than a simple will. One way to deal with this is … [Read more...] about Huntersville Living Trust Compared to the Last Will and Testament
