Using Spendthrift Trusts in New York To what extent is a beneficiary’s trust fund available to his or her creditors? Most elder law attorneys are very well versed in how trusts can be used to protect assets from claims by Medicaid, but it has been noticed, at least in my own experience, that the broader rules […]
One of the most common things that people tend to confuse is Medicare and Medicaid. These are very different government programs despite the similar name! Understanding the differences is an important step in leveraging these resources for one’s own benefit or those of a spouse, parent or family member. Medicaid is a joint Federal, State […]
Having children changes one’s life, and gives it profound new meaning. As parents and grandparents, you always want what’s best for your children and grandchildren. You want to instill in them a hope about the future, which comes with a need to give them everything you can. Many aspirations in life come at a cost, […]
The following case study highlights the benefits of using a Revocable Living Trust where the chosen beneficiaries are other than the natural objects of one’s bounty. This case showed why a living trust may be better when someone wants to cut out a child or other close relative from one’s estate. The client had no […]
Knowing the basic terminology in any new area of study is a key to understanding the topic as a whole. This is particularly true with estate planning and trusts where unfamiliar terminology abounds. This post will specifically go through some of the more common nomenclature surrounding trusts and trust planning. What is a trust is […]