When a trustee becomes incapacitated or passes away, a successor trustee takes their place. In addition to managing the duties held by the previous trustee, the successor must also demonstrate proof of a certificate of trust or affidavit regarding their power over the trust.  The successor trustee may carry on a range of responsibilities related […]

The four-part series on Special Needs Planning draws to a close this week, with a focus on taxes within a Special Needs Trust. Visit the three earlier blog entries this month for the most frequently questions Morton Elder Law receives about Special Needs Planning for your child. Image Credit Question: How is the income of […]

In the wake of the last recession and an increase in competition throughout many markets, businesses can do a lot for themselves by planning ahead with regard to succession. In many cases, doing this can help to mitigate the risks associated with an unclear future.  For family-owned businesses, one of the stages of their lifecycle […]

I just finished delivering a Webinar on Special Needs Trusts Planning.  You can watch the replay below.

When your loved one is preparing to enter a nursing home, you may do some research on your own or even consult with a financial planner regarding spending down assets. In order to qualify for Medicaid, many older couples in this situation start figuring out the most appropriate way to spend down assets. If you […]

During the State of the Union address, Obama suggested a proposal to end the “step-up” provision for capital gains taxes. Although this would require the approval of Congress, there are major ramifications for estate planning if this were ever implemented. This kind of proposal would eradicate a big tax benefit linked to inheritances.  While the […]

Susan Schneider, the widow of Robin Williams, is taking the children from Williams’ prior marriage to court, arguing that they have been removing property from the home she shared with him. According to Schneider, memorabilia, jewelry, and other items have been taken from the home. She wants the court to exclude these items even if […]

This month Morton Elder Law is focusing on the most frequently asked questions related to Special Needs Planning. Last week we covered the different forms of Special Needs Trusts available. This week, the focus is on Social Security Disability Benefits, and how a special needs trust can benefit your child with special needs. Image Credit  […]

Last week, in the blog, we covered the reasons gifting a special needs child’s inheritance to their siblings is harmful. This week we approach another frequently asked question regarding Special Needs Planning: the laws surrounding Medicaid. Question: If I create a Special Needs Trust, does the money have to go to reimburse Medicaid when my […]

This month Morton Elder Law is focusing on the most frequently asked questions related to Special Needs Planning and Inheritance. Check in every week for updates that will benefit you and your loved ones. Question: I have a child receiving public benefits through disability, should I give their inheritance to a sibling? The short answer […]