Understanding living trusts

The majority of Americans understand what a will is, at least in concept, but many people are not nearly as familiar with living trusts. Living trusts may be important components of estate or long-term care plans. There are two main types of living trusts -- revocable...

Can I change a totten trust?

One of the concerns people grapple with in their estate planning is the ability to change their estate plans when circumstances warrant. Sometimes people want to change their wills to reflect new priorities. Similarly, people may set up a Totten trust but after some...

Pet trusts and how to avoid probate litigation

More pet owners are creating pet trusts that ever before. Unlike you might think, they are not just for the super wealthy. Pet trusts are created like any other trust. Once you determine the amount of money you wish to leave for the benefit of your pet, you need to...

Protecting a Son or Daughter with an Inheritance

A goal of estate planning for many parents is to leave assets to adult children and other heirs. In some cases, however, parents may worry about the possible negative consequences of doing so. Consider these statistics: According to a recent report issued by U.S....

Providing For A Disabled Child

For any parent, providing for the basic and higher needs of a child is a top priority. As a child grows, a parent's list of concerns typically evolves from worrying about and providing for a child's basic needs and physical safety to ensuring that a son or daughter...

Trusts – Is one right for my family?

Trusts of various types have been described in the last several blogs - Revocable, Irrevocable, Testamentary and Special Needs.  There are other types of trusts as well, such as those for charities, pets, or education.  Whether or not Trusts are right for your...

Special Needs Trusts

Special Needs Trusts are funded with the assets of a special needs or disabled beneficiary and are intended to preserve eligibility for Medicaid (Medical Assistance), Supplemental Security Income (SSI) and other government benefits. The beneficiary may have obtained...

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Carol Sikov Gross is a member
of the National Academy of
Elder Law Attorneys

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