Justin, My financial advisor recently raised a concern about the beneficiary designations on my IRAs. He said naming my living trust as a death beneficiary on my IRAs was a bad idea, but I’m not clear on why. Can you shed some light on my situation?
What’s Wrong With My IRA Plan? Read More »
The 529 College Savings Account (“529 Plan”) is an estate planning and college savings tool that has its place in a grandparent’s well-rounded estate plan, but the pros and cons should be considered before heading down to your local bank or opening an account online. In addition, as an Elder Law practice, we also want you to be informed about the affect a 529 Plan may have on your long term care Medicaid eligibility.
Things Grandparents Should Know about the 529 College Savings Account Read More »
Justin, I am homebound and in a wheelchair, but with my wife’s help, we’ve made things work at home for a long time now. A couple of weeks ago, she fell and broke her hip, and we can see that we’re going to need to look at other options. We only have one child, and I plan to deed my house into her name as quickly as I can to protect it from the nursing home. Are there any issues I should watch out for?
How can I protect my home? Read More »
Justin, does my Revocable Living Trust really need to split into an A and B Trust, or a Marital Trust and Family Trust, at my death? This seems complicated for my family to deal with after I am gone.
Do I Need A and B Trusts? Read More »
If you are motivated to protect your house, you need a plan. The first question you might ask yourself is – from what does my house need protecting?. But there are three common legal risks that you can minimize or avoid by planning ahead.
Your Home: An Investment Worth Protecting Read More »
Justin, I’m thinking of deeding my home to my children to avoid inheritance taxes. Do you have any recommendations on how I should handle this?
How Should I Deed My House To My Children? Read More »
Retirement accounts, including IRAs and 401(k) funds, are often some of the largest assets our clients own. People typically have three main concerns when planning to pass their retirement funds on to the next generation.
The IRA Trust – The Best of All Worlds Read More »
© The Elrod Firm. The information on this website is merely general information. It is not legal advice, and it does not create any type of attorney-client relationship. Estate Planning and Elder Law are complex fields, and each case is unique. Do not rely on the general information on this website when making legal decisions. Seek professional advice. The information on this website is the property of The Elrod Firm, and cannot be reused or disseminated without the express written consent of The Elrod Firm.
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