It's irrevocable: Picking a trust is tricky

Legal Corner by Paul A. Brule

    A client recently asked how many different kinds of trusts are there. It sounds like a straight forward question, but the answer is quite complicated. It’s like asking how many different types of motor vehicles are there. We are all generally familiar with motor vehicles, but I presume such a question might draw a number of different answers. You could say that, fundamentally, there are two kinds of motor vehicles, cars and trucks. However, there are motorcycles, too, and maybe a few other types such as vans and campers. You see, it gets kind of complicated.

Generosity can be a costly trait

Legal Corner by Paul A. Brule

    While Christmas seems to be the height of gift giving each year, people bestow and receive presents every month because of birthdays, anniversaries and other occasions. This column will focus on the Medicaid eligibility and tax ramifications of gifts, but I will start off with some simple definitions.

Giving away 99% of house can work

Legal Corner by Paul A. Brule

    The different approaches explained in this column to protect assets from loss against nursing home expenses should only be employed after a family receives qualified legal assistance. Another one of the many strategies a family can use is to give away 99 percent of a house, which can produce a very beneficial result under the right circumstances.

Lawyer recommends annual legal check

Legal Corner by Paul A. Brule

    Periodically, everyone should have a checkup. While that seems to be accepted by all reasonable people as regarding their health, many people fail to realize that a similar periodic legal checkup is also important.

Consider options for assets

Legal Corner by Paul A. Brule

   Those of us who have been married for several years (or decades!) usually have a number of things in common. One is that assets are usually structured so that at the death of one spouse, everything passes to the other spouse. For most couples, that arrangement is appropriate and desirable, but would it be appropriate to structure assets in some other manner?

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