ESTATE PLAN COMPLETE WITH CHILD PROTECTION
Prepared comprehensive Estate Plan for parents of young children, including Child Protection Planning to ensure that in the event of emergency, the children would be cared for by the people chosen by the parents, raised with the values and principles important to the parents, and never be placed in the custody of strangers or people the parents did not trust.
REVOCABLE LIVING TRUST
Drafted a Revocable Living Trust for an individual owning real estate in several states, to avoid probate in multiple states upon his death and to keep his plans private from estranged family members.
BLENDED FAMILY ESTATE PLAN
Drafted a trust-based estate plan for a married couple with a “blended family” (each with children from previous marriages) to ensure that their assets would avoid probate and provide adequate support for the surviving spouse during his/her lifetime, while also protecting the inheritances of their respective children and grandchildren.
MODIFIED ESTATE PLAN
Assisted elderly couple with the review and update of their existing estate plans, bringing all documentation including Wills, Powers of Attorney and Medical Directives up-to-date in an efficient and cost-effective manner.
CHARITABLE REMAINDER TRUST
Drafted a Charitable Remainder Trust to allow a married couple with no children to recognize several hundred thousand dollars in income tax and death tax savings, while also receiving a lifetime stream of income and benefiting the charities of their choice upon their deaths.
CHARITABLE & EFFICIENT PLANNING STRATEGY
Implemented a planning strategy combining a Charitable Remainder Trust with an Irrevocable Life Insurance Trust to allow a married couple with children to achieve significant income tax and death tax savings, receive a lifetime income stream, leave a sizable donation to their favorite charity at death, and also provide their children with a tax-free inheritance equal to the donation amount.
MEDICAID ASSET PROTECTION PLAN
Created a trust-based Medicaid Asset Protection Plan for a married couple who wanted to protect a vacation home, which had been in the family for generations, from potential state or nursing home recovery claims in the event a future illness or injury required long-term nursing home care.
MEDICAID SPEND DOWN
Assisted the family of a nursing home resident with the planning and execution of a Medicaid “Spend Down” to preserve the maximum amount of family assets while qualifying the resident for Medicaid benefits within two weeks.
PROBATE ADMINISTRATION NEGOTIATION
Guided the Executor of a multi-million dollar estate containing multiple properties through the Probate Administration process; successfully negotiated a family settlement agreement among feuding heirs to avoid expensive and prolonged probate litigation.
SPECIAL NEEDS TRUST
Drafted a Special Needs Trust for a developmentally disabled minor to allow him to receive financial gifts or inheritances from family without losing his eligibility for governmental assistance and other financial need-based benefits.