<p>Giving your house to your children can have tax consequences, but there are ways to accomplish it tax-free. The best method to use will depend on your individual circumstances and needs.</p>
Special Needs Trust – What is it?You may have heard the term “Special Needs Trust” before. But do you know what it means? What makes a Special Needs Trust different than other types of trusts? In what sort of situation is it appropriate to have a Special Needs Trust?A Special Needs Trust is intended to […]
Lawyers can be expensive. But the value of good legal advice is not always appreciated. In the area of business transactions legal costs should seem far less “costly” when weighed against the potential negative costs when business deals fall apart. The 2016 Mississippi Supreme Court case of Kilpatrick v. White Hall on MS River, LLC is an example […]
ELDER LAW – Advocating for a Loved One in a Skilled Nursing FacilityWhen your loved one is admitted into a skilled nursing facility, your job as a caregiver is not over. Sure, there is staff comprised of diverse professional backgrounds in the facility at all times. But staff members cannot possibly know your loved one […]
Pleae read link below. https://weatherby-associates.com/uncategorized/2016/09/07/zappa-family-feud-2
For many of us regardless of our age, retirement can seem like a concept in the far-off future. Certainly, attitudes and expectations around retirement have changed over the last few decades. Our careers are a major aspect of our overall lives, and they also impact our overall health. Ann Lukits penned an article for the […]
It’s counterintuitive, we know: irrevocable trusts are revocable (and amendable). Unfortunately, irrevocability is a malicious myth. The uninformed could spend years relying on an old, out-of-date trust that could be updated and improved without too much effort. Yes, the so-called “irrevocable trusts” absolutely can be, and, often, should be, modified. In this issue, we’ll identify: […]
Unlike money, personal belongings usually cannot be divided equally after their owner passes away. For this reason, distributing possessions like furniture, jewelry, dishes, silverware, artwork, photographs or clothing is often the most difficult challenge in settling an estate. (Just ask Audrey Hepburn’s two sons.)It can help if the deceased person had stated in her will […]
Have you ever heard of state “filial responsibility” laws? Although rarely enforced, 29 different states have laws that require children to provide financial support to their indigent parents under certain circumstances. In the context of long term care, those statutes could potentially result in adult children being liable for their parents’ sizable nursing home and […]
Many families are hesitant to discuss financial affairs together. Parents do not necessarily want their children to know how much or exactly what they have. Some do not want their loved ones to know exactly how they plan to dispose of their assets when they die. However, what we strongly recommend for each and every […]