Providence wealth partners long term care strategiesBrandonSinger
Long-Term Care Protection Strategies - Everyone knows someone who has been affected by Long-Term Care needs. It could be parent, grandparent or other friend / family. Long-Term care comes in many forms such as in-home care, assisted living, skilled nursing & nursing home. Long-Term Care insurance ensures that your loved ones will have the care they prefer & can help protect against Medicaid spend-down.
Presentation Describing the different types of trusts in which an inheritance is received and how only a Discretionary Trust can provide asset protection.
This presentation describes the current Medicaid eligibility rules and shows various techniques that permits individuals and families to preserve assets in the face of crushing long-term care costs
http://www.LongstreetLegalServices.com In this presentation, attorney Rob Longstreet discusses recent developments in Medicaid and health care planning. You will learn the difference between Medicaid and Medicare and what program is best suited to help pay for extended stays in long-term care or nursing home facilities.
Providence wealth partners long term care strategiesBrandonSinger
Long-Term Care Protection Strategies - Everyone knows someone who has been affected by Long-Term Care needs. It could be parent, grandparent or other friend / family. Long-Term care comes in many forms such as in-home care, assisted living, skilled nursing & nursing home. Long-Term Care insurance ensures that your loved ones will have the care they prefer & can help protect against Medicaid spend-down.
Presentation Describing the different types of trusts in which an inheritance is received and how only a Discretionary Trust can provide asset protection.
This presentation describes the current Medicaid eligibility rules and shows various techniques that permits individuals and families to preserve assets in the face of crushing long-term care costs
http://www.LongstreetLegalServices.com In this presentation, attorney Rob Longstreet discusses recent developments in Medicaid and health care planning. You will learn the difference between Medicaid and Medicare and what program is best suited to help pay for extended stays in long-term care or nursing home facilities.
Life Insurance Trusts and Charitable Planning Techniquesscoop85
Learn techniques to provide protection for life insurance proceeds against estate tax exposure and creditors, and how to integrate charitable planning techniques that benefit the client and their family as well as selected charities.
From the Oklahoma law firm Cazes Roberts, PC:
A concise yet practical review of what Oklahoma estate planning is, why some would want to do Oklahoma Estate Planning and the tools used in Oklahoma Estate Planning.
Why is an estate plan important? The estate tax is probably the largest single tax you
are ever likely to pay. With the highest maximum rate at slightly under 50%, it’s
important that you create a plan that’s right for you and your heirs.
An estate plan can help you to:
•Preserve assets and wealth.
•Ensure your assets are distributed according to your wishes to the right people at
the right time.
•Minimize or defer taxation.
Attorney Rob Longstreet (http://www.ElderLawOfMichigan.com) provides information on how the recent developments in Medicaid and Health Care Planning have an impact on today's consumer. Longstreet specializes in long term care planning, Medicaid, Medicare, nursing home law and related elder law issues.
Do you have a written estate plan? If you do not have a written estate plan, including a will, power of attorney, and a healthcare surrogate designation/living will directive, now is the time to create one. If you have a written plan, perhaps it’s time for a review. By Jim Dressman, DBL Law
If It Took A Lifetime To Accumulate Your Nest Egg, Its Worth Protectingpjdemees
In this slideshow, I hope to be able to answer your most pressing questions as it relates to wealth preservation, estate equalization, and the financial impact of a life altering illness.
Workshop serves to educate individuals about the importance of preparing a last will and testament; protecting their loved ones and resources available to assist with estate planning.
"How to transfer your wealth to the next generation through estate planning" took place on April, 8th at the Tower Club, Vienna, VA. Our special guests were Mr. Milton Buffington and Mr. Saeid B. Amini, two well known experts that shared, for two hours, their experience on identifying legal issues and mechanisms that businesses and individuals can use to transfer their wealth and assets more efficiently, to the next generation.
This was a complimentary seminar hosted by Saeid B. Amini and Milton Buffington through the courtesy of Provanedge Financial and Richard B. Osmann, Ed.D.
Life Insurance Trusts and Charitable Planning Techniquesscoop85
Learn techniques to provide protection for life insurance proceeds against estate tax exposure and creditors, and how to integrate charitable planning techniques that benefit the client and their family as well as selected charities.
From the Oklahoma law firm Cazes Roberts, PC:
A concise yet practical review of what Oklahoma estate planning is, why some would want to do Oklahoma Estate Planning and the tools used in Oklahoma Estate Planning.
Why is an estate plan important? The estate tax is probably the largest single tax you
are ever likely to pay. With the highest maximum rate at slightly under 50%, it’s
important that you create a plan that’s right for you and your heirs.
An estate plan can help you to:
•Preserve assets and wealth.
•Ensure your assets are distributed according to your wishes to the right people at
the right time.
•Minimize or defer taxation.
Attorney Rob Longstreet (http://www.ElderLawOfMichigan.com) provides information on how the recent developments in Medicaid and Health Care Planning have an impact on today's consumer. Longstreet specializes in long term care planning, Medicaid, Medicare, nursing home law and related elder law issues.
Do you have a written estate plan? If you do not have a written estate plan, including a will, power of attorney, and a healthcare surrogate designation/living will directive, now is the time to create one. If you have a written plan, perhaps it’s time for a review. By Jim Dressman, DBL Law
If It Took A Lifetime To Accumulate Your Nest Egg, Its Worth Protectingpjdemees
In this slideshow, I hope to be able to answer your most pressing questions as it relates to wealth preservation, estate equalization, and the financial impact of a life altering illness.
Workshop serves to educate individuals about the importance of preparing a last will and testament; protecting their loved ones and resources available to assist with estate planning.
"How to transfer your wealth to the next generation through estate planning" took place on April, 8th at the Tower Club, Vienna, VA. Our special guests were Mr. Milton Buffington and Mr. Saeid B. Amini, two well known experts that shared, for two hours, their experience on identifying legal issues and mechanisms that businesses and individuals can use to transfer their wealth and assets more efficiently, to the next generation.
This was a complimentary seminar hosted by Saeid B. Amini and Milton Buffington through the courtesy of Provanedge Financial and Richard B. Osmann, Ed.D.
Propagace stránek: E-mailing krok za krokemMichal Blažek
Prezentace Propagace stránek: E-mail Marketing Krok za krokem na konferenci "Jak vytvořit stránky na WordPressu", dne 28.11.2015 v HUB Praha. Upozorňuji, že se jedná o prezentaci pro úplné začátečníky. Některé věci byly úmyslně zjednodušené nebo vynechané.
3ª edição. Traz os seguintes artigos: O Desenvolvimento Territorial Sustentável a partir da Escala Local /A Experiência da Iniciativa art do PNUD na América Latina em Desenvolvimento Econômico Local / Desenvolvimento Territorial e Economia Solidária (ESOL): conexões com a geração local de trabalho e renda /Agente de Desenvolvimento – um elo entre a administração pública municipal e os pequenos negócios / A Contribuição do Instituto Sicoob PR com o Desenvolvimento Local e Sustentável por meio da Disseminação da Cultura Cooperativista / NIT (Núcleo de Inteligência Territorial) – A importância dos indicadores municipais
Fanwood-Scotch Plains YMCA Estate and Disability Planning Presented by Donald D. Vanarelli, Esq., Certified Elder Law Attorney, Accredited Veterans Attorney, Founding Member, Association of Special Needs Planners . See also: http://vanarellilaw.com/legal-services/
Consider the three primary goals of estate planning:
1. Direct how assets will be distributed at death.
2. Reduce or eliminate transfer taxes and probate costs.
3. “Piece of Mind” – Review every 3 to 5 years and major life events (three “phases” of estate planning).
Estate management is about preserving the assets you’ve spent a lifetime building. It’s about protecting your spouse, children, or other heirs, and ensuring that your assets are distributed how and when you want them to be. Finally, estate management is about managing the amount of estate taxes that may be due after your death. There are some fundamental estate management principles that can enable you to manage your financial and personal affairs during your lifetime and distribute your wealth after death.
What are your rights when you're a beneficiary of a trust? What if you're NOT the trustee, but only the beneficiary, and you are having trouble getting information from the trustee. You see the trustee is responsible for administering the trust on behalf of the beneficiaries - not for themselves, unless the trustee also happens to be a (or one of) the beneficiaries too. Are they as beneficiary confusing their duty as trustee and vice versa.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
1. It’s Your Estate – Spring 2012
ADVANCED ESTATE PLANNING
(Beyond Wills)
Presented by: Leslie R. Daff, JD, MBA
Certified Specialist in Estate Planning, Probate & Trust Law
by the State Bar of California Board of Legal Specialization
Estate Plan, Inc.
A Professional Law Corporation
Phone: (949) 497-5056
Fax: (9490 497-7150
Email: LDaff@estateplaninc.com
Website: http://www.estateplaninc.com
Laguna Beach Office
352 3rd Street, Suite 301
Laguna Beach, CA 92651
Irvine Office
19200 Von Karman Avenue, Suite 500
Irvine, CA 92612
2. Statutory Probate Fees in California
4% on first $100,000
3% on next $100,000
2% on next $800,000
1% on next nine million
Administrator/Executor and Attorney each entitled to fees based on the
gross value of the estate (not net of mortgages and indebtedness) -
Examples:
$500,000 gross estate - $26,000
$1 million gross estate - $46,000
$3 million gross estate - $86,000
$5 million gross estate - $126,000
Also…
Court costs
Probate referee fees
Potential for extraordinary fees
3. Ways to Avoid Probate
Payable-on-death and transfer-on-death designations
Beneficiary designations
Titling (e.g., Joint Tenancy)
Drawbacks:
In California, married couple holding title as joint
tenants (instead of community property) do not get full
step up in cost basis at first death.
Adding children to title is a gift if over $13,000 in any
given year (requires gift tax return) and exposes the
real property to sale by child, child’s creditors, and
child’s ex-spouse if divorce occurs. Child loses full
step-up in cost basis he or she would have otherwise
received if inherited at death instead.
Revocable Living Trust
4. Common Estate Plan
A Revocable Living Trust is often used to
avoid conservatorships at incapacity and
probate at death.
Commonly, an estate plan consists of:
Revocable Living Trust
Pour-over Will
Financial Durable Power of Attorney
Advance Health Care Directive
HIPAA Authorization
5. Revocable Living Trust
Terminology
A Revocable Living Trust is a contract between a
Settlor/Grantor/Trustor/Trustmaker and a Trustee which defines
the rights, obligations, and use of property held in the Trust.
Generally, the Settlor and Trustee are the same person when
the Trust is created.
Settlor/Trustor/Grantor/Trustmaker – The creator of the Trust
and the owner of the property placed in Trust. The Settlor can
amend the Revocable Living Trust during his or her lifetime.
Trustee – The person or entity holding title to the Trust property
as Trustee and who carries out the duties of the Trustee as set
out in the Trust agreement (i.e., manages the assets) for the
benefit of the Beneficiary, the person(s) or entity(ies) designated
by the Settlor to receive the benefits of the trust pursuant to the
terms of the trust instrument (i.e., uses and enjoys the assets).
The Beneficiary is generally the Settlor during his or her lifetime.
6. Types of Trusts
Revocable Trust – Can be changed
Irrevocable Trust – Cannot be changed (often
used for gifting purposes)
Trust Protector
7. Benefits of Revocable Living Trust
Avoids probate.
Assets are distributed without court involvement.
Trust provisions are not made public.
If Settlor/Trustee becomes incapacitated, a named successor
Trustee takes over management of the assets without court
involvement (no conservatorship). Trustee can be:
Individual
Trust Company
Private Fiduciary
After death, assets which would otherwise be paid outright to
beneficiaries can continue to be held and administered in one or
more subtrusts for the entire lifetime of the beneficiary or
distributed at specified age(s) or stage(s):
Protects beneficiary from himself or herself, creditors,
predators, and divorce
8. Drawbacks of Revocable Living Trust
Cost – Typically several hundred to several thousand
dollars to create
Administration
Funding the Trust
Why living trusts fail
Why your estate may still go through probate
Trust Administration after Death
But typically 50-90% less than probate
administration
What to do when your spouse dies
What to do as successor Trustee
9. Marital Subtrusts:
A Trust – Survivor’s Trust
B Trust – Bypass/Credit Shelter/Exemption Trust – to
hold decedent’s Applicable Exclusion Amount:
2012 $5 million (portable exemption
between spouses)
2013→ $1 million (exemption not
portable)
C Trust – QTIP/Marital Trust – to control decedent’s
property after death
10. A-B-C Trust (2013)
$3 Million
Community
Property
Survivor Decedent
$1.5 Million $1.5 Million
C Trust
A Trust B Trust
(QTIP Trust)
(Survivors Trust) (Bypass Trust)
$500,000
$1.5 Million $1.0 Million
(Irrevocable)
(Revocable) (Irrevocable)
HEMS HEMS
Beneficiary 1 Beneficiary 2 Beneficiary 1 Beneficiary 2 Beneficiary 1 Beneficiary 2
11. Subtrust Considerations
Whether to give surviving spouse a limited
power of appointment (e.g., among joint
descendants, or among descendants and
charities)
Subtrust administration – allocating assets
between trusts, obtaining taxpayer ID
numbers for irrevocable trusts, and preparing
additional tax returns
12. Disclaimer Trust:
Surviving Spouse
Remaining
$3 Million disclaims $1 Million
$2 Million to
Community in assets (in 2013)
Survivor’s Trust
Property to create Bypass
(A Trust)
Trust (B Trust)
Cautions:
• Not Automatic
• Surviving spouse must disclaim in writing within 9 months of first
spouse’s death
• Must not have accepted benefits of disclaimed property (e.g.
interest, rental income)
13. Considerations for Distributions to
Children and Other Beneficiaries
1. Outright
2. In Stages
Distributions for health, education, maintenance,
and support – example:
At age 25, receives one-third of trust principal outright
At age 30, receives one-half of remaining trust principal
outright
At age 35, receives remainder of trust principal
3. Lifetime Beneficiary-Controlled Trusts
Distribution Trustee (for maximum creditor protection)
Beneficiary as Trustee (can resign, remove, and replace
Trustees)
14. Will
Pourover Will still used as a “safety net” to
catch any assets that are not in the trust and
“pour” them into the living trust so they can be
distributed according to the trust’s terms.
Guardians for minor children are also named
in the Will.
15. Special Needs Trust
For child with special needs
Mental or physical incapacity
Governmental assistance is available.
Inheritance would mean no governmental
assistance.
Limited rights to use but preserves trust assets
from governmental levy.
Can be set up in parent’s revocable living
trust or as a stand-alone trust
16. Qualified Domestic Trust
Non-U.S. citizens
If one or both spouses are not citizens of the United
States, a qualified domestic trust (QDOT) must be
used to take advantage of a special marital deduction
similar to the unlimited marital deduction used by
couples who are both citizens.
Properly structured, a QDOT can postpone estate
taxes until the death of the second spouse.
Special restrictions apply
17. Gifting
Generally, you are subject to gift tax
whenever you give property to individuals.
Three types of gifts are exempt from gift tax:
Generally, gifts to spouse
Gifts to any individual of up to $13,000
annually
Direct payments for tuition or medical care for
any individual
$5 million lifetime gift tax exemption in 2012
18. Irrevocable Life Insurance Trusts
(ILIT)
Although life insurance is income tax free, it is not
estate tax free. However, a special trust called an
Irrevocable Life Insurance Trust (ILIT) can be created
to hold the life insurance policy. An ILIT is an IRS-
approved means of removing your life insurance
proceeds from your taxable estate while still having
the proceeds available to provide for your spouse,
children, or other beneficiaries according to your
desires. Gifts made each year to the ILIT to pay the
policy premiums can be exempt from gift tax.
3-year rule
19. How ILITs work
Settlor of ILIT sets up Irrevocable Trust (ILIT) naming another
person/entity as Trustee.
The Trustee is named the owner of the life insurance policy and
the ILIT is named the beneficiary.
Trustee obtains a new taxpayer ID number for the ILIT and sets
up an ILIT bank account under the new taxpayer ID.
Settlor provides the account with a “gift” with which to pay life
insurance premiums.
Trustee notifies beneficiaries (“Crummey” notice) that a gift has
been made to the ILIT and they have 30 days to take the gift
(required to make it a gift of a present interest), otherwise it will
be used to pay the premium.
Beneficiaries decline to take the present gift.
At death, the life insurance proceeds pass free of estate tax
Can be used to pay estate taxes to keep an otherwise taxable
estate intact.
20. Additional Trusts for Larger Estates
Charitable Remainder Trusts (CRT)
Charitable Remainder Annuity Trust (CRAT)
Charitable Remainder Unitrust (CRUT)
Grantor Retained Annuity Trust and Grantor Retained
Unitrusts (GRAT or GRUT)
Qualified Personal Residence Trust (QPRT)
Charitable Lead Trust
Irrevocable Trusts for Children/Grandchildren
(Crummey Trusts)
Intentionally Defective Grantor Trusts
21. Family Limited Partnership and
Limited Liability Company
The family limited partnership (FLP) and family
limited liability company (FLLC) are sophisticated
estate planning devices.
By transferring income-producing capital assets (i.e.
rental property) into an FLP or FLLC, the value of the
assets can be discounted up to 30% or more based
on factors such as the lack of marketability of or
minority interest in the partnership shares.
Gifting fractionalized FLP and FLLC interests in
assets can be an effective way to make maximum
use of an individual’s federal transfer tax applicable
exclusion amount during life.
Caution: Must have business purpose (not used for
residence) – not just tax-avoidance, observe
formalities.