FAQs

Answers to Your Frequently Answered Questions

Estate Planning

What is estate planning?
Why is it important to establish an estate plan?
What does my estate include?
How do I name a guardian for my children?
What estate planning documents should I have?

Special Needs Planning

What is the purpose of a Special Needs Trust?
When should a Special Needs Trust be established?
Who can establish a Special Needs Trust?
Our family is wealthy. Do we still need to create a Special Needs Trust?

Living Trusts

What is Probate and why does everyone want to avoid it?
What is a Revocable Living Trust?
What are the advantages of having a Living Trust?
Will I lose any control over my property if I create a Revocable Living Trust?
Do I have to transfer all my assets to my Living Trust?
If I transfer title to real property to my Living Trust can the bank accelerate my mortgage?

Elder Law

What is long-term care insurance and is it really necessary?
What is Medicaid Planning and what does it involve?
Doesn’t Medicare provide coverage for long term care?
Is Medicaid Planning legal?
How long will it take to become eligible for Medicaid?
Can my children take money out of our joint account without affecting my eligibility?
What are some criteria to look for when selecting a nursing home?
Should I wait until I need Medicaid benefits before I see an elder law attorney?

Estate Taxes

Will my estate be subject to death taxes?
What is my taxable estate?
What is the unlimited marital deduction?
What is a Credit Shelter or A/B Trust and how does it work?
What is a Qualified Personal Residence Trust (QPRT) and how does it work?
What is an Irrevocable Life Insurance Trust and how does it work?
What is a Family Limited Partnership and how does it work?

Planning for Incapacity

What is a Durable Power of Attorney?
Who can establish a Power of Attorney?
Who may act as an agent under a Power of Attorney?
What is a Durable Power of Attorney for Health Care?
What is a “Living Will”?
What is a HIPAA Authorization?