Who Owns the Home?

Asset Protection

When counseling clients about estate planning, my primary objective is to help them maintain control of their estate.  This includes helping clients ensure that, on their passing, their assets go to those they want to receive them.  This result does not happen...

 Will This Cost You The Home?

Estate Planning

Last article, I gave the example of a man with children from a prior relationship who purchased a home with his girlfriend.  When he dies, who will receive his share of the home?  Since they are not married, the house is not community property.  This means there is no...

Can I Stay in the House?

Asset Protection, Trust, Wills

Without preparation, the passing of a loved one can result in difficult and unexpected challenges.  In recent columns, I have addressed this point with the example of a second marriage in which the husband moved into the house already owned by his new spouse.  Upon...

Qualifying for Medicaid Assistance – Is There a “Five Year” Penalty if I Give Assets Away?

Asset Protection, Estate Planning

In the last several columns, I have addressed the medical and financial requirements necessary for seniors to receive Medicaid assistance for long term care.  You may have noticed that nowhere in those columns did I mention the so called “5 year rule,” a rule that...

Are You Prepared for the Threats to Your Estate?

Asset Protection, Estate Planning

A trust is a very effective way to maintain control over your assets, even after your passing.  Although a will can ensure your assets go to the people you want to receive them, a trust can help ensure those assets are protected from unintended results or misuse.  In...