In order to protect your legacy and your heirs from excessive taxation, you should apply tax avoidance principles to wealth transfer. Still, it requires careful planning and oversight to ensure techniques don’t cross the line to tax evasion. Assessing tax… Read more »
Author: michellepyatt
An Overview of Litigation in Probate Court
When a dispute arises during the probate process, the legal process of administering the estate of a deceased person, it is called probate litigation. When someone passes away, their assets and debts must be settled and distributed according to their… Read more »
Patients in Long-Term Care Facilities May Be Affected by Medicaid Disenrollments
As of May 11, 2023, the Covid Public Health Emergency (PHE) has been officially ended. The conclusion of the PHE also ended a requirement of the Families First Coronavirus Response Act (FFCRA) that kept people continuously enrolled in Medicaid programs… Read more »
Trusts Are Important Estate Planning Tools
An estate plan involves distributing property and money after a loved one dies. Though many people are familiar with wills as a means of distributing assets, trusts can be even more effective. A trust is a legal arrangement where a… Read more »
A Look at the Physical Challenges of Aging in Place
It is estimated that three out of four Americans over the age of 50 plan on aging in place according to AARP. These seniors are willing to employ alternative solutions to make it happen. The alternatives include home sharing (32%),… Read more »
What You Need to Know About Appointing a Power of Attorney
In the event that you become incapacitated in some manner, you should plan ahead and appoint a trusted agent to take care of your affairs on your behalf. These legal documents can grant broad authority to one or more power… Read more »
A Guide for Understanding Grantor-Retained Income Trusts
A wealth transfer or estate planning strategy may include strategies that preserve assets while providing financial benefits to those who inherit them. One such strategy is the grantor-retained income trust (GRIT). GRITs offer a unique opportunity for individuals to retain… Read more »
Minimizing Tax Liabilities and Managing Family Wealth
For high-net-worth families, many legal strategies are employed to preserve wealth and minimize taxes. However, tax laws continually change and can impact new and existing estate plans. For example, the SECURE and SECURE 2.0 Act presents some challenges and opportunities… Read more »
The Complete Guide to Continuing Care Retirement Communities
In recent years, aging Americans have become increasingly interested in continuing care retirement communities (CCRCs) or life plan communities. These senior living communities offer the array of care options necessary for aging adults to move through the stages of independent,… Read more »
Understanding the Two Types of Remainder Trusts
In philanthropy, charitable giving has long been a cornerstone. People enjoy making meaningful contributions to causes that are close to their hearts. For those who wish to support charitable organizations while also benefiting from tax advantages and income streams, charitable… Read more »