Your Information source for wills, trusts, estate tax minimization,
powers of attorney, living wills, health care directives, special needs trusts,
asset protection, charitable giving, guardianship, succession planning,
retirement and estate administration. |
A New York trial court recently approved a trustee’s petition to reform his deceased father’s trust in order to protect his disabled sister’s Medicaid benefits. In Matter of Newman (2008 NY Slip Op 50127, Jan. 22, 2008).
When he died in 1988, William Newman established a trust in his will for his disabled daughter. The will [...]
To preserve the ability to stretch IRA distributions for a beneficiary, that individual must start taking withdrawals based on his/her life expectancy in the year after death. If those required withdrawals don’t start on time, can you still rectify the situation to preserve the tax deferral? A recent private letter ruling procured our by our [...]
This great post comes from Jennifer N. Sawday of The California Estate Planning Blog.
Her post is titled: Living Trusts Are Revocable And Not An Asset Protection Tool and describes a fundamental (and often misunderstood) aspect of asset protection planning – if you have relatively unfettered access to your money, so do your creditors. It comes [...]