Having an irrevocable trust remains an effective way to protect your estate’s assets. Such a trust cannot be changed in any way. The terms within the trust make it permanent, but exceptions do exist. There are key advantages of irrevocable trusts compared with other...
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Medicaid, the irrevocable trust and non-countable assets
On Behalf of The Manna Helmy Law Group | Jul 6, 2020 | Medicaid Planning / Nursing Home Planning, Trusts
If you are beginning to think about your future and the possibility of eventual nursing home care, you are probably also thinking about Medicaid and its connection to nursing home eligibility.You want your assets to go to your heirs rather than spending down to meet...
How can I benefit from a trust in my estate plans?
On Behalf of The Manna Helmy Law Group | Jan 20, 2020 | Trusts
If you are in the process of creating or updating your estate plans, you may want to think about incorporating a trust to help protect your legacy. Trusts are not for everyone. Many people who have basic assets and wealth do not necessarily need to have trusts....
The benefits of irrevocable living trusts
On Behalf of The Manna Helmy Law Group | May 10, 2018 | Trusts
Regardless of whether you are just beginning the estate planning process, or you have had plans in place for years, you may have heard the term “irrevocable living trust” thrown around and found yourself wondering exactly what it means.Essentially,...
What are the benefits of establishing a trust?
On Behalf of The Manna Helmy Law Group | Nov 3, 2016 | Trusts
For many people, inheritance taxes can impose a substantial burden during a time of grief where there is enough stress and change to navigate already. They can seriously impact one's ability to ensure that one's heirs and beneficiaries are well provided for, and they...
Trust decisions get tougher with tax changes
On Behalf of The Manna Helmy Law Group | Apr 20, 2013 | Trusts
New Jersey residents who want to set up trusts for their descendants face a myriad of new laws and regulations that may affect how they plan for trust dispositions. Estate planning is not becoming a simpler process; rather, with the changes brought about by the...
Decision in estate of James Brown a sign that charitable trusts are to be respected
On Behalf of The Manna Helmy Law Group | Mar 9, 2013 | Trusts
More than six years after the death of legendary soul singer James Brown, the South Carolina Supreme Court issued a critical ruling that may finally allow a legal dispute to wind down. At his 2006 death, Brown left a detailed will and trust indicating that he wanted...
Living trust has benefits
On Behalf of The Manna Helmy Law Group | Feb 22, 2013 | Trusts
Establishing a revocable living trust can prove wise, according to one estate planning attorney. What is a revocable living trust? It's a living trust established with your own assets and under your terms. It can be changed or terminated at any time before your...
Some issues to consider with respect to special needs planning
On Behalf of The Manna Helmy Law Group | Nov 9, 2012 | Estate Planning, Medicaid Planning / Nursing Home Planning, Trusts
Caring for a child with special needs is something that is close to the heart of a good number of Americans. This is a particularly important issue dealt with in estate planning. Many parents facing this issue aren't sure where to begin, though. While there are...
Discretionary trusts: useful for protecting vulnerable beneficiary’s inheritance
On Behalf of The Manna Helmy Law Group | Nov 3, 2012 | Estate Planning, Trusts
Our New Jersey readers may have heard of the troubles regarding Whitney Houston's estate, particularly with respect to her daughter Bobbi Kristina. Houston left a total of $20 million in trust to her now 19-year-old daughter, and this has been a source of contention...
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