Revocable Versus Irrevocable Trusts Comparison

There are many different trust types for estate planning purposes; the most common are revocable and irrevocable. While there is some similarity, these two major categories of trusts have different purposes in your estate plan. Both can substitute for a last will and testament as an alternative way to distribute property, though a trust and …

How Estate Planning can prepare the Sandwich Generation for the challenges ahead

Have you ever felt “sandwiched” between raising your own family and caring for an aging parent? If so, you are likely part of a unique group of people known as the “Sandwich Generation.” So what is the “Sandwich Generation?” This generation is a group of adults who are experiencing a phase in their life, usually …

How a Creditor can Disrupt Probate

A will designates a personal representative (executor) to make a public record, usually posted in a local newspaper, of the date of death of the testamentary. In part, this information serves as notice to creditors if the decedent has an outstanding debt with them. The personal representative must also make a reasonable effort to notify …

Estate planning for surviving spouses

After losing a spouse or long-time partner, it is difficult to consider more than just your grief. However, it is crucial to understand there are important and timely decisions you need to make regarding your finances and personal estate plan. In truth, estate planning is perpetual as it accounts for changes in marriages, deaths, divorces, …

It is Not Always Better to Give Than to Receive

If there is a possibility that a loved one might need Medicaid assistance in the foreseeable future, that person should not be giving gifts. This can be sad if that person gets joy out of generosity. But gifts in that situation can turn out to be very, very expensive. Medicaid is the government program that …

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