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Why Should I Give My Money Away?

Everyone likes money, right? Giving money to family or friends can also be a smart tax planning move.
03/29/22 • by: Vick Law, P.C.
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Is the President Proposing to Help Nursing Home Quality?

On Monday, White House officials outlined more than 20 separate actions, many of them sought by advocates and opposed by the industry.
03/24/22 • by: Vick Law, P.C.
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Do You Need a Revocable or an Irrevocable Trust?

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There are two main kinds of trusts: revocable and irrevocable. Many seniors planning for the future may want to place their home in a trust for their children. This is especially true if the house is paid off, and free and clear of a mortgage. However, what would happen if the home were placed in a trust and the senior then decides to sell it?
03/23/22 • by: Vick Law, P.C.
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Sell Mom's House if She Moves to a Nursing Home?

Reaching the point where you need to consider residential options for your mother can be overwhelming. Not only is it emotionally fraught, there are also financial and legal considerations.
03/22/22 • by: Vick Law, P.C.
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Drawbacks to Adding a Child to Your Deed

It’s true that if your child is on your deed as a joint tenant on your home, your home will not have to go through probate if your child survives you. At your death, your surviving child would immediately become the sole owner of your home without probate and with minimal transfer costs.
03/21/22 • by: Vick Law, P.C.
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How to Protect Crypto Assets in Estate Plans

If you have $10 in a crypto wallet or $1 million stashed offline in cold storage, you need a plan to help your next of kin gain access when you die, especially if heirs are not familiar with the brave new world of digital money. There can be challenges to accessing crypto assets for your heirs. Click to learn what to include in your digital estate plan that may help.
03/17/22 • by: Vick Law, P.C.
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Should I have a Charitable Trust in My Estate Plan?

A charitable trust allows you to donate assets to a chosen tax-exempt charitable organization or nonprofit and comes with certain tax benefits to help you minimize what you might owe to the government.
03/15/22 • by: Vick Law, P.C.
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Is Life Insurance a Good Idea?

According to the U.S. Department of Agriculture, a middle class family raising a child to adulthood will spend over $233,000 on that child between the ages of 0 to 18. That doesn't even factor in the cost of college education, which can be thousands of dollars more per year once a child reaches adulthood. Purchasing a term life insurance policy can ensure your children are provided for - even in a worst-case scenario.
03/14/22 • by: Vick Law, P.C.
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Should I Create a Special Needs Trust for My Grandchild?

A Special Needs Trust can be either a first-party trust created by a parent, grandparent, guardian or a court using the beneficiary’s own funds; or a third-party trust funded with assets belonging to the trust’s creator. Since the beneficiary’s assets are used, a first-party Special Needs Trust requires that the state benefits provider be reimbursed for lifetime benefits paid by it on behalf of the beneficiary.
03/11/22 • by: Vick Law, P.C.
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15 Signs to Review Your Estate Plan

Your estate planning is done, but is it? A periodic review is an important ongoing step to your planning. Continue reading to learn 15 hints you should review your estate plan.
03/07/22 • by: Vick Law, P.C.
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