Parman & Easterday, LLP

[...] When parents of young children in Brooklyn, New York create an estate plan, their plans have to address issues that people who do not have children don’t have to consider. [...]

[...] An estate plan is more than a list of assets and who gets them when you die.  And if you’re thinking, “I [...]

[...] When people in Kansas or Oklahoma want to create an estate plan, they often have questions about whether or not they have to file or register their plans with [...]

[...] When parents of young children come talk to us about creating an estate plan, we walk them through the various ways that creating a plan can protect their children. Whether [...]

[...] you can obtain access to your copy through this link: Special Needs Planning Report. Blaine Peterson Attorney Parman & Easterday [...]

[...] cases, living probate cases have their own set of rules and requirements that apply. Blaine Peterson Attorney Parman & Easterday [...]

[...] child, but addressing the issues is nevertheless a key element of your estate plan. Blaine Peterson Attorney Parman & Easterday [...]

[...] contemplate making such gifts to ensure it is in the best interests of your family. Blaine Peterson Attorney Parman & Easterday [...]

[...] that you convey into this type of trust. However, there is another type of trust called a revocable living trust. If you were to create a revocable living trust, you would not surrender control of the [...]

[...] incurred that reduce the value of the estate while the process is underway. If you use a revocable living trust to facilitate future asset transfers, you are referred to as the grantor of the trust. [...]

[...] lose personal control of the assets while you are still alive and of sound mind. Shared Revocable Living Trust If you are married, you could create a shared revocable living trust. This could be a [...]

[...] When people come talk to us about creating a revocable living trust, one of the main concerns they often ask us about is whether they can retain control of [...]

[...] relatively high exclusion, most people do not have to worry about estate tax efficiency. Revocable Living Trusts While it is true that some irrevocable trusts are used by the wealthy, there are other [...]

[...] a factor. The time frame would be greatly accelerated, and this is one of the reasons why revocable living trusts are widely utilized. Special Report on Revocable Living Trusts We have prepared a free [...]

[...] A closer look at revocable living trusts in Oklahoma and some of the benefits this type of trusts offer. Topics covered in this [...]

[...] control of the assets even if you keep the trust in place. You may wonder why revocable living trusts are utilized if they do not provide asset protection or estate tax benefits. These [...]

[...] recent years, digital estate plans have become more and more important as the prominence of digital assets and technology continues to grow in our day-to-day lives. To better understand what these [...]

[...] adopted one of the first laws that specifically recognizes the need for people to address digital assets as they manage the estate of the deceased or incapacitated person. The law, known as the “ [...]

[...] the beneficiary initially, but you name successors to assume these roles after you die. The successor trustee that you choose will distribute resources to the successor beneficiaries after your death, [...]

[...] Before we talk about the specific role of the successor trustee, we should explain the value of living trusts from an overview, because there are [...]

[...] the trustee must follow when you create the trust agreement. It should be noted that the successor trustee could also be empowered to administer the trust in the event of your incapacitation. Probate [...]

[...] at any time that it would no longer exist. When you create the trust agreement you name a successor trustee and successor beneficiaries. After you die, the successor trustee can distribute assets to [...]

[...] in your mind. We have prepared a free special report that takes an in-depth look at the probate process. You can download the report through this website. To access your copy of the special report, [...]

[...] trust is a specific kind of trust people create primarily to mitigate the effect that the probate process has on their estate. To understand why this is, we first need to understand what a trust is. [...]

[...] take years. There are also considerable expenses that can present themselves during the probate process. It is possible to avoid probate in a number of different ways. Are you concerned about the [...]

[...] issues, we turn our attention to ancillary probate. Last week we looked at what the probate process involves. This week we are going to continue that discussion by looking at ancillary [...]

[...] was a hardship waiver issued by the IRS. When your surviving spouse spouse dies, the successor beneficiaries would assume ownership of the assets in the trust. At that time, the estate tax would be [...]

[...] would never actually own the assets. It would be possible to make your children the successor beneficiaries, and they could enjoy asset protection and potential tax savings while they benefit from [...]

[...] going to make your spouse the initial beneficiary, and your children will be the successor beneficiaries. If you die first, the trustee that you name in the trust agreement would be [...]

[...] facilitate future asset transfers. To make this happen, you name a successor trustee and successor beneficiaries. After you die, the successor trustee would distribute assets to the successor [...]

[...] Early Dementia Signs and Medicaid Planning from Larry Parman If you recognize early dementia signs in yourself or a loved one, you may [...]

[...] you would like to learn more about Medicaid planning, we invite you to download our free special report on the subject. The report is very [...]

[...] qualify for Medicaid. Topics covered in this report include: Long-Term Care Costs Medicaid Planning Medicaid Look Back Click here to read the whole article or download the PDF. [...]

[...] your eligibility. On the other hand, a revocable living trust would not be good for Medicaid planning purposes, because you do in fact retain direct control of the assets that have been conveyed [...]

[...] is remaining in the home while his or her spouse is entering a long-term care facility. The Medicaid program is jointly administered by each respective state government along with the federal [...]

[...] , but the exact way that the program is administered will vary on a state-by-state basis. The Medicaid program is only available to people who can demonstrate significant financial need. There are [...]

[...] assets to the beneficiaries outside of probate. Medicaid Trusts Many seniors seek Medicaid eligibility late in their lives, because Medicare will not pay for long-term care. Most elders will [...]

[...] most states. If you enter your retirement years with some resources, you could aim toward Medicaid eligibility through a process called a Medicaid spend down. This can involve giving your children [...]

[...] early dementia signs in yourself or a loved one, you may want to start planning ahead with medicaid eligibility in mind. Learn more about dementia signs and medicaid planning in this presentation. [...]

[...] to as the domiciliary probate case.) What can I do about ancillary probate? Like other probate issues, ancillary probate questions can be easily dealt with as long as you create the proper estate [...]

[...] the probate process itself. Understanding Probate: What is living probate? Even though most probate issues involve the property left behind by a deceased person, probate courts are also responsible [...]