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September 18

How to Fulfill Your Role as Trustee

Have you recently been named as a trustee or successor trustee for someone’s trust? If thoughts like, “Help! What am I supposed to do?” are going through your mind, you are not alone! Trustees bear a great responsibility in ensuring…

Even Annual Exclusion Gifts Are Counted by Medicaid

This IRS rule has nothing to do with Medicaid’s asset transfer rules. While the $14,000 that you gave to your grandchild this year will be exempt from any gift tax, Medicaid will still count it as a transfer that could make you ineligible for nursing home benefits for a certain amount of time should you apply for them within the next five years.

Probate v. Non-Probate: What Is the Difference?

The probate process includes filing a will and appointing an executor or administrator, collecting assets, paying bills, filing taxes, distributing property to heirs, and filing a final account. This can be a costly and time-consuming process, which is why some people try to avoid probate by having only non-probate assets.

9 (Potential) Problems with Your Trust

It’s a useful exercise to make sure that you understand what is in your trust. Other issues, particularly those related to tax issues, will require consulting with Linda Strohschein. We are hosting a free lunch and learn about the different types of trusts and how to best reach your estate planning goals this Thursday, January 23rd. RSVP today!

Avoid Horror Stories of Probate

Probate occurs when…
Probate will be required when the Decedent leaves assets over $100,000 to be collected that does not name a beneficiary, a joint tenant or co-owner. Probate begins any time following death and will last for a minimum of six months. Probate can extend for many years based on the parties and the issues involved.

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