7 Traps and 5 Power-Ups -Special Needs Estate Planning
Special Needs Estate Planning There are multiple traps, myths, and outright falsehoods when it comes to estate planning for a special needs beneficiary, and it doesn’t help when these lies spread like wildfire. But why do they spread? Usually, because someone had a single good or bad experience and they wrongly translate that to be […]
Myths of Special Needs Planning
Updated: In this outtake from The Advanced Institute, a professional conference for estate planners, Jeff reviews the prevalent myths in special needs estate planning that need to be overcome when discussing planning with clients. Common Knowledge Myths Special Needs Planning Sometimes something that is “common knowledge” is just a myth, and myths are prevalent in […]
The Ten Medicaid Planning Myths You Need to Know
It has been some time since I’ve covered Medicaid Myths in this blog, and some of these myths can be deadly to qualifying for Medicaid if followed through. Rather than start a list from scratch, I went straight to the source in my own book The Long-Term Care Solution. Here is an excerpt from Chapter […]
The Snapshot Date in Medicaid Planning
The Medicaid Date The snapshot date in Medicaid planning is simply the date that the person entered the nursing home, and therefore is “locked in” to how their assets were arranged at that time. More specifically, it is the first day of the first month in which the person enters the nursing home and is […]
The Medicaid Squeeze Can Be Reversed
The Medicaid Squeeze The intricate maze of Medicaid Planning confuses even seasoned professionals if they don’t focus on this type of planning in their daily practice, and it’s easy to find differing opinions. Accountants cringe when told to liquidate an IRA because they’re used to minimizing taxes. Bankers gasp when told to liquidate or just […]
The Advanced Institute is Back
My Presentation Was On Medicaid Planning. The Estate Planning Source, an organization I have been affiliated with for many years, has undergone some challenges lately in addition to the COVID issues facing every other business. With the purchase of the business finalized in May by long-time employee Bobbie Setser, the organization is holding its first […]
They Passed, But I Need To Get Into Their Bank Account
The situation is extremely typical among people who haven’t had to deal with a probate estate before, and my office gets these initial calls all the time. “So-and-so passed on, I need to get control of their checking account, but the bank said I need Letters Testamentary. Can you type those up for me?” Unfortunately, […]
The Estate Paparazzi
Estate Privacy When an estate goes through probate, privacy is out the door worse than Beyonce taking a stroll down Rodeo Drive. In this outtake from the webinar “Estate Planning… Bigger Than Beyonce” I review the loss of privacy that occurs to an estate mired in this court process. My name, account values, beneficiary contact […]
Anatomy of a Destroyed Estate Plan
Estate Plan Destroyed How do you destroy your own well-crafted, strategically created, solid estate plan in one move? In this podcast, I cover how one of our most airtight estate plans explicitly drafted to benefit a grandson with special needs ended up being placed in jeopardy… because the clients decided to perform their own DIY […]
The Importance of Trust Funding For Your Estate
[Please note that this is a frequent “reprint” article for our office. We intentionally re-release this important information every six months to our clients through the newsletter and blog to emphasize how critical asset titling and beneficiary designation selection is to make sure a revocable living trust plan is properly maintained. If you have any […]