This is the most advanced topic I have written for my public readers. But it can be an important topic, so hang in there.
According to conventional wisdom you should always name your spouse as beneficiary of an IRA. But if you are at all interested in asset protection that may … Continue Reading
Vacation property and “second homes” – whether in the mountains or at the beach – present a number of legal and tax planning opportunities.
A little secret: Most of what you'll read here also applies to your residence.
Avoid Probate With A Trust
First, consider probate … Continue Reading
Many people make big mistakes titling bank and investment accounts. Often advisors and bankers advise customers to “put your child’s name on the account” or to set the account up as a “pay on death” (or “POD”) account. However well-intentioned the advice, the results of either … Continue Reading
Dad died 5 years ago and there is a trust under his will for Mom. Will the trust be countable if Mom goes into a nursing home?
Mom and Dad set up an irrevocable trust years ago (Bill Clinton was on his first term) and put land and some other assets in the trust. Are the assets … Continue Reading
Lately I have written a number of difficult posts that relate to trusts. A reader asked me why I hadn’t written anything that simply explains what a trust is. I was surprised to see that I hadn’t, so . . . .
First, let me set this up. I’m going to start with trusts and pickup … Continue Reading