Gift Tax and Medicaid

Gift Tax and Medicaid

A common misconception is that you can utilize the IRS’s gift tax exclusion allowing gifts up to $15,000 per year, per person without invoking Medicaid’s transfer penalty period. This simply is not true. The $15,000 per person per year is an annual gift tax exclusion...
Understanding Pooled Trusts

Understanding Pooled Trusts

In the modern world, humans are living longer than ever before. Generally, this is a very good thing. It means more time spent with loved ones and enjoying all the wonderful experiences life has to offer. However, age-related deterioration is a growing concern, and...
Is an Irrevocable Trust right for you?

Is an Irrevocable Trust right for you?

In a previous post we discussed the advantages and draw backs of Revocable Living Trusts.  While there are many significant advantages to Revocable Living Trusts, there is one significant disadvantage – they do not protect assets against legitimate creditors. ...
Understanding a Revokable Trust.

Understanding a Revokable Trust.

There is a lot of talk around the issue of Trusts.  “Do I need a Trust?”  “Will a Trust preserve my assets?”  “Can I sell a home that is held in Trust?”  If your instincts tell you that you should seek more information about Trusts – keep reading. Let us try to get to...