Category: Uncategorized

Some quick updates on the annual and combined estate/gift exclusion numbers for 2024.

Estate planning just got a bit more complicated, thanks to a recent ruling by the IRS. The ruling was issued in March 2023 and is Revenue Ruling 2023-2; it has significant implications for individuals who have an irrevocable trust as part of their estate plan.

Every trust is either revocable or irrevocable, but which trust should you create? Find out what factors go into the decision of what trust is right for you.  We look at your age, wealth level, family circumstances, desire for flexibility and control as just some of the factors that go into this decision.

This video clears up all the confusion surrounding the current five year lookback for Medicaid. Learn about what the 5 year lookback is, the associated penalty for nursing home/institutional Medicaid coverage and the new 2.5 (two and a half) year lookback for community Medicaid effective in 2024.

Learn about why it can be critical for all family decision makers, and trustees in particular, to be present during an estate planning consultation. Family dynamics, your intentions as well as the intentions of those close to you should be carefully weighed and considered by all parties prior to signing a Trust or other legal…

Q:           What is the difference between an Irrevocable and Revocable Trust? A:            An Irrevocable Trust is the only type of trust that affords creditor protection and there are aspects of it that can never be changed by you

Learn about the ideal stages in life and triggers for commencing to plan your estate. Why is 55 years old the magic number? Listen in to find out or check out the transcript.

This video explains Pooled Income Trusts and how they can help high income individuals qualify for Medicaid in New York.

Learn about the various aspects of selling real estate that is inherited such as mortgage assumption, probate and estate costs, estate tax, and dealing with conflicting interests.