No one wants to draft a will or trust leaving assets to beneficiaries only to have one of them sue the estate or trust. Unfortunately, there is no surefire way to prevent someone from contesting a will or trust, but a no-contest clause can minimize the risk of...
Escalating college costs mean that many families are trying to find the most cost-effective way to put away money for their kids. If you want to set aside a significant amount of money for your children’s or grandchildren’s college education, the two most common...
Most people have heard of a prenuptial agreement, but postnuptial agreements are less well-known. Postnups address many of the same issues as prenups. They both allow couples to determine how they will deal with financial issues during marriage and in the event of...
A common misconception is that you don’t have to think about long-term care issues until you’re in your retirement years. However, starting Medicaid planning in your 30s offers significant benefits and no downside. The same tactics that protect assets for long-term...
It’s not unusual for parents to create a trust and make their adult children (or grandchildren) both the beneficiaries and trustees of their own trusts. That option may be fine legally and offer several advantages. However, it can also cause significant problems if...
One option for paying for long-term care (LTC) is to purchase an insurance policy that covers those costs. Typically, traditional health insurance policies and Medicare provide very limited coverage. As a result, unless you can qualify for Medicaid, you must buy...