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331 items found for "qualified personal residence"

  • Trusts from A to Z

    rundown of revocable or irrevocable trusts, credit shelter trusts, generation-skipping trusts, and qualified personal-residence trusts. Qualified personal residence trusts. A qualified personal residence trust can be useful in locking in a lower value for gift tax purposes. Trust funds can be a big element in your estate-planning strategy, so talk with a qualified trust attorney

  • How to React to the Fed’s Rate Hike

    Qualified Personal Residence Trusts. This might be more attractive when rates are higher—creating a trust to pass a primary residence or vacation A qualified personal residence trust will freeze the value of the property for gift-tax and estate-tax

  • Under What Circumstances Can a Person Be Appointed a Guardian in Texas?

    In Texas, a person can be appointed as a guardian under two circumstances. If the incapacitated person does not have family or family that sees them regularly, there is potentially In Texas, a person becomes a guardian in probate court. Having said that, a person could be the conservator of a child, like a parent, but that person may also Sometimes, a person may serve in both roles, but most of the time, the roles are separate.

  • How to Divvy Up Personal Assets Without Splitting Up the Family

    Gathering your personal possessions and deciding who to distribute them to can be one of the most difficult Also, it is important that your executor or trustee secure your residence as soon as possible after death Utilize the Memorandum Regarding Personal Property. This document allows you to direct which personal belongings are to be distributed to a specific person If the person you are gifting the item to is agreeable, you can keep these items around.

  • How President Biden’s Proposed Tax Plan Could Impact Your Estate

    scheduling a consultation online This spring, President Joe Biden outlined a new infrastructure plan In a break with his initial campaign promises, though, President Biden is no longer proposing an expansion Proposed Changes President Biden has proposed raising the top marginal income tax rate from 37 percent

  • Personal Finance Myths Debunked!

    Reference: Kiplinger (May 2016) “8 Urban Myths of Personal Finance” #AssetProtection #Guardianship #401k

  • 10 Common Mistakes People Make When Applying for Medicaid

    Even after going into a nursing home there are opportunities to protect life-savings and become qualified Essentially, any Medicaid payments that are made on behalf of a nursing home resident will become a claim Congress has passed specific rules for spouses of nursing home residents to ensure that they don’t become

  • Why You Need a Medicaid Planning Lawyer for Your Estate Plan

    In order to qualify for Medicaid, you need the assistance of an experienced Houston Medicaid planning To qualify for Medicaid, you must meet certain eligibility requirements, including income and asset limits Some people think they can simply transfer their property and money to their children to qualify for Medicaid planning refers to the estate planning strategies of structuring your assets and income to qualify lawyer can also provide customized planning for your unique situation, with your specific financial and personal

  • How to Get Emergency Guardianship of an Elderly Parent in Texas

    may be incapacitated and there is probable cause to believe that the person or their estate requires The temporary guardian may be authorized to make health care decisions, decide residence, or make financial Qualifying for Emergency Appointment of a Guardian To qualify for emergency guardianship, you have to prove there is an imminent threat of danger to their person or estate. or property and what authority is necessary to protect the person An Attorney Ad Litem is appointed

  • The Benefits of Choosing a Dementia-Focused Law Firm

    This attorney needs to know the best planning options for your loved one, how to get them qualified for the right direction for facilities that will give your loved one the care they deserve and meet their personal required to complete continuing education with every renewal of their certification, so they remain qualified Personal Experience Many of our team members have experienced a loved one’s journey with dementia first-hand For many of our team members, this personal experience with dementia drives their passion for helping

  • Protecting Assets from Medicaid: How Funding a Trust Can Help

    can protect your investments for your own retirement and the next generation while still providing quality If they exceed the financial limits, they will not qualify for Medicaid assistance. are “non-countable assets,” which include IRA’s if getting required minimum distributions, primary residences (such as your homestead), personal property, and pre-paid funeral expenses.

  • Complete a Complete Estate Plan

    be sure the money in your accounts or the death benefit on a life insurance policy goes to the right person The executor or the personal representative is the person who will be responsible for carrying out the

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