If you are worried that disappointed heirs could contest your will or trust after you die, one option is to include a “no-contest clause” in your estate planning documents. A no-contest clause provides that if an heir challenges the will or trust and...
Inheriting a vacation home with your siblings can be a great thing or it can cause huge problems within the family. Planning ahead can help prevent sibling disagreements. When siblings co-own property and one sibling wants to sell, that sibling can demand to be bought...
Vermont senator Bernie Sanders (D) has introduced legislation that would require more estates to pay estate tax and that raises the amounts they would pay. Another proposed law would eliminate the step-up in basis that inherited assets currently enjoy. Taken together,...
Answer: It is not appropriate for the guardian to do this, but it is probably not illegal. The guardian must oversee your mother’s care and act in her best interest. The guardian is probably also required to file reports with the local probate court, but the specifics...
Five elder advocacy groups are calling on Congress to eliminate Medicaid estate recovery after a congressional advisory commission recently concluded that estate recovery recoups a tiny percentage of spending while contributing to generational poverty and wealth...
A Pennsylvania appeals court rules that an agent may act on behalf of a principal under a springing power of attorney, even if the principal has not been declared incompetent if the parties intended to enter into a general power of attorney as supported by the...
A Massachusetts case demonstrates the importance of making any agreements about inheritance in writing. The Massachusetts Appeals Court ruled that rendering services to someone in the hope or expectation that it will result in payment from an estate is not sufficient...
It should not. The state Medicaid agency should not look at your mother’s assets after the spend down has occurred. But this is a general rule, so we recommend consulting with an elder law attorney to make certain there is no local trap for the unwary. Also, if she...
Remember how satisfying it was setting up a trust for your child with special needs? You named a trustee and a successor trustee, signed the paperwork, and paid the legal bills, and then you rested easy at night knowing you had put a plan in place for your child....
With the federal estate tax exemption possibly about to be lowered, it may be time to think about steps you can take to keep your estate from being taxed. An irrevocable life insurance trust allows you to pass on money to your heirs while avoiding both the federal...
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