As costs dramatically increase and life expectancy continues to trend higher, Medicaid planning has become an essential part of estate planning. Unfortunately, most people do not become aware of this need until it’s too late to qualify.
The Skyrocketing Costs of Nursing Home Care
Nursing home...
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Choosing who will administer your estate (Personal Representative), or your Trust (Trustee), is as an important decision as you can make when crafting your estate plan. When you pass, the most carefully made plans will only be as successful as the person, or persons, you charge with carrying them out. Below...
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The COVID pandemic has led to many changes in the economy which may have short- and long-term effects on your existing estate plan. If you have not revisited your plan in the past 3-5 years, now may be a good time to do so. Particularly with potentially large estates, this could be...
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Directors, officers, and employees of a corporation owe fiduciary duties to the corporation. One of these fiduciary duties is a duty of loyalty. Corporate fiduciaries cannot do harm to the company the serve. More particularly in the context of business opportunities, they cannot seize for themselves a business opportunity that would otherwise...
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You are no doubt familiar with the many telemarketing scandals that have become pervasive over the past decade. Fraud campaigns that prey on the elderly and isolated. More prevalent, and less discussed, are the fraudulent actions of those closest to the elderly. Friends, and even family members, perhaps acting as caregivers for...
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Other employers don’t take the time to carefully draft executive employee agreements. In the excitement of finding the right fit to lead a key position in their company, they overlook what might appear as the mundane task of circumscribing an executive’s duty, responsibilities, and performance expectations. After all, this is a highly...
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It is your money, and the laws of all 50 states provide great deference to people’s wishes when passing on their estate. Provided your Will or Trust does not contain inheritance provisions that violate public policy, the Court will not interfere with your wishes. But what if your estate plan is not...
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The Coronavirus Aid, Relief, and Economic Security Act, or “CARES Act” was signed into law on March 27, 2020 and is designed to provide financial assistance to small businesses impacted by COVID 19. The U.S. Senate Committee of Small Business & Entrepreneurship has published an 11 page outline of the four...
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Trustee accept certain fiduciary duties when they agree to take on the role. Their ignorance of these specific duties can sometimes be the source of disputes and litigation with the Trust beneficiaries. Perhaps the most common dispute arises because of accusations of Trustee self-dealing.
Duties of the Trustee
Life insurance can be one of the most important components of an estate plan. How you name your beneficiaries can have significant tax implications and can provide protection against creditors. Most people name either their spouse and/or children and don’t give it much thought. This blog outlines some things to consider as...
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