A TOD account is a transfer on death account. A POD account is a payable on death account. These accounts are sometimes used by people who are looking for simple solutions to transfer assets after you pass away.
Medicaid is a government benefit program designed to provide health care to low-income people in the United States. It is a joint effort between the federal and state governments, in which federal officials have established certain general rules and each state adds its own modifications to conform to local needs. Learn more about the basics of medicaid in this presentation.
Power of Attorney: Pros and Cons (Part 2 of 2)Paul Kraft
In part one of this series, we looked at the two basic types of power of attorney, the general and limited POAs – and examined the pros and cons of each. In this presentation, we’ll go beyond that and examine the advantages and disadvantages of the Durable Power of Attorney. Learn more about durable power of attorney in this presentation.
Estate planning can be a complex process that utilizes a wide variety of legal tools and strategies to achieve your end-of-life and legacy goals. Learn more about Indiana trust in this presentation.
The Medicaid program is the result of a partnership between the federal and state governments, and provides aid for low-income people – including seniors, the blind, and the disabled. Learn more about navigating medicaid in this presentation.
If you ever give thought to the possibility that you might one day require nursing home care, chances are that Medicaid benefits never cross your mind. Learn more about navigating medicaid in this presentation.
When you are planning your estate, you should consider the possibility of incpacity late in your life. Learn more about estate planning in this presentation.
Is Joint Tenancy a Good Estate Planning SolutionPaul Kraft
Joint tenancy with right of survivorship sounds like a rather complicated condition on the surface. Learn more about joint tenancy in this presentation.
Eight Things You Need to Know About Taxation and Estate PlanningPaul Kraft
You are naturally going to wonder
about taxes that can enter the picture when you're leaving inheritances to your loved ones. Learn more about taxation and estate planning in this presentation.
Medicaid is a government benefit program designed to provide health care to low-income people in the United States. It is a joint effort between the federal and state governments, in which federal officials have established certain general rules and each state adds its own modifications to conform to local needs. Learn more about the basics of medicaid in this presentation.
Power of Attorney: Pros and Cons (Part 2 of 2)Paul Kraft
In part one of this series, we looked at the two basic types of power of attorney, the general and limited POAs – and examined the pros and cons of each. In this presentation, we’ll go beyond that and examine the advantages and disadvantages of the Durable Power of Attorney. Learn more about durable power of attorney in this presentation.
Estate planning can be a complex process that utilizes a wide variety of legal tools and strategies to achieve your end-of-life and legacy goals. Learn more about Indiana trust in this presentation.
The Medicaid program is the result of a partnership between the federal and state governments, and provides aid for low-income people – including seniors, the blind, and the disabled. Learn more about navigating medicaid in this presentation.
If you ever give thought to the possibility that you might one day require nursing home care, chances are that Medicaid benefits never cross your mind. Learn more about navigating medicaid in this presentation.
When you are planning your estate, you should consider the possibility of incpacity late in your life. Learn more about estate planning in this presentation.
Is Joint Tenancy a Good Estate Planning SolutionPaul Kraft
Joint tenancy with right of survivorship sounds like a rather complicated condition on the surface. Learn more about joint tenancy in this presentation.
Eight Things You Need to Know About Taxation and Estate PlanningPaul Kraft
You are naturally going to wonder
about taxes that can enter the picture when you're leaving inheritances to your loved ones. Learn more about taxation and estate planning in this presentation.
Have You Considered the Estate Administration ProcessPaul Kraft
If you maintain direct personal possession of your property, and you use a will as your asset transfer vehicle, the estate administrator would be the executor. Learn more about estate administration process in this presentation.
Everyone is aware of the existence of the estate planning document called a last will or last will and testament. Learn more about wills and trusts in this presentation.
What Are the Indianapolis Gift Tax Exclusions?Paul Kraft
"You might think that you can give gifts without being taxed for your generosity. After all, if you give
someone a cash gift, you are giving a portion of what is left after you paid taxes on your income.Learn more about Indianapolis gift tax exclusions in this presentation."
What Is Indianapolis Supplemental Needs Trust?Paul Kraft
You may have a family member with special needs. People with disabilities often rely on need-based government benefits. Learn more about Indianapolis supplemental needs trust in this presentation.
What Is Included In My Indiana Estate PlanPaul Kraft
In this paper, we will look at the anatomy of an estate plan, and we also look at some specific circumstances that may call for specialized planning. Learn more about Indiana estate plan in this presentation.
Do Assets In A Living Trust Get A Step-Up in BasisPaul Kraft
Once the inheritor assumes ownership of the appreciated assets, the clock begins anew. Learn more about Indianapolis living trust in this presentation.
What is the Difference Between a General and A Limited Power of AttorneyPaul Kraft
A power of attorney is a commonly used legal device. You could use a power of attorney if you wanted to give another person the power to act on your behalf in a legally binding manner. Learn more about the general power of attorney in Indiana and limited power of attorney in Indiana in this presentation.
What is the Indianapolis Cost of ProbatePaul Kraft
If you utilize a last will to state your final wishes, the will would be admitted to probate after you pass away. Learn more about Indianapolis cost of probate in this presentation.
Do You Have to Impoverish Yourself to Qualify for Indianapolis MedicaidPaul Kraft
When you reach the age of 65, you will qualify for Medicare as a source of health insurance if you worked throughout your life. Learn more about Indianapolis medicaid in this presentation.
A power of attorney is a legal device. With a power of attorney, you could empower someone else to act on your behalf in a legally binding manner. Learn more about power of attorney in this presentation.
Do I Pay Taxes When Someone Leaves MoneyPaul Kraft
It can seem as though you are required to report any type of income on your annual income tax return. Learn more about income tax in Indiana in this presentation.
Can I Give Away Assets to Qualify for Medicaid in Indiana?Paul Kraft
"The Medicaid program will pay for long-term care, but it is a need-based program. To stay within the asset limits, people typically give assets to their loved ones
before they apply for coverage. Learn more about medicaid in Indiana in this presentation.
"
What is the Medicaid Look-Back in Indiana?Paul Kraft
Medicaid is another government run health insurance program. This program will pay for long-term care. Learn more about medicaid look-back in Indiana in this presentation.
After you passed away, the property that was in your sole and direct personal possession would be looked upon as probate property. Learn more about probate in Indiana in this presentation.
You get a step-up in basis, so the value for capital gain purposes is equal to the present value of the assets as of the date of death. Learn more about estate taxes in Indiana in this presentation.
What is a Qualified Personal Residence Trust in Indianapolis?Paul Kraft
You could potentially reduce your exposure to the federal estate tax through the creation of a legal device called a qualified personal residence trust. Learn more about Indianapolis qualified personal residence trust in this presentation.
Why Would I Want a Revocable Living Trust?Paul Kraft
When you create and fund a revocable living trust, you continue to control the assets while you are living. Learn more about Indiana revocable living trust this presentation.
In the United States there are taxes on large asset transfers. We have an estate tax, and we also have a gift tax. The estate tax and the gift tax are unified under the tax code. Learn more about the annual gift tax exclusion in this presentation.
Have You Considered the Estate Administration ProcessPaul Kraft
If you maintain direct personal possession of your property, and you use a will as your asset transfer vehicle, the estate administrator would be the executor. Learn more about estate administration process in this presentation.
Everyone is aware of the existence of the estate planning document called a last will or last will and testament. Learn more about wills and trusts in this presentation.
What Are the Indianapolis Gift Tax Exclusions?Paul Kraft
"You might think that you can give gifts without being taxed for your generosity. After all, if you give
someone a cash gift, you are giving a portion of what is left after you paid taxes on your income.Learn more about Indianapolis gift tax exclusions in this presentation."
What Is Indianapolis Supplemental Needs Trust?Paul Kraft
You may have a family member with special needs. People with disabilities often rely on need-based government benefits. Learn more about Indianapolis supplemental needs trust in this presentation.
What Is Included In My Indiana Estate PlanPaul Kraft
In this paper, we will look at the anatomy of an estate plan, and we also look at some specific circumstances that may call for specialized planning. Learn more about Indiana estate plan in this presentation.
Do Assets In A Living Trust Get A Step-Up in BasisPaul Kraft
Once the inheritor assumes ownership of the appreciated assets, the clock begins anew. Learn more about Indianapolis living trust in this presentation.
What is the Difference Between a General and A Limited Power of AttorneyPaul Kraft
A power of attorney is a commonly used legal device. You could use a power of attorney if you wanted to give another person the power to act on your behalf in a legally binding manner. Learn more about the general power of attorney in Indiana and limited power of attorney in Indiana in this presentation.
What is the Indianapolis Cost of ProbatePaul Kraft
If you utilize a last will to state your final wishes, the will would be admitted to probate after you pass away. Learn more about Indianapolis cost of probate in this presentation.
Do You Have to Impoverish Yourself to Qualify for Indianapolis MedicaidPaul Kraft
When you reach the age of 65, you will qualify for Medicare as a source of health insurance if you worked throughout your life. Learn more about Indianapolis medicaid in this presentation.
A power of attorney is a legal device. With a power of attorney, you could empower someone else to act on your behalf in a legally binding manner. Learn more about power of attorney in this presentation.
Do I Pay Taxes When Someone Leaves MoneyPaul Kraft
It can seem as though you are required to report any type of income on your annual income tax return. Learn more about income tax in Indiana in this presentation.
Can I Give Away Assets to Qualify for Medicaid in Indiana?Paul Kraft
"The Medicaid program will pay for long-term care, but it is a need-based program. To stay within the asset limits, people typically give assets to their loved ones
before they apply for coverage. Learn more about medicaid in Indiana in this presentation.
"
What is the Medicaid Look-Back in Indiana?Paul Kraft
Medicaid is another government run health insurance program. This program will pay for long-term care. Learn more about medicaid look-back in Indiana in this presentation.
After you passed away, the property that was in your sole and direct personal possession would be looked upon as probate property. Learn more about probate in Indiana in this presentation.
You get a step-up in basis, so the value for capital gain purposes is equal to the present value of the assets as of the date of death. Learn more about estate taxes in Indiana in this presentation.
What is a Qualified Personal Residence Trust in Indianapolis?Paul Kraft
You could potentially reduce your exposure to the federal estate tax through the creation of a legal device called a qualified personal residence trust. Learn more about Indianapolis qualified personal residence trust in this presentation.
Why Would I Want a Revocable Living Trust?Paul Kraft
When you create and fund a revocable living trust, you continue to control the assets while you are living. Learn more about Indiana revocable living trust this presentation.
In the United States there are taxes on large asset transfers. We have an estate tax, and we also have a gift tax. The estate tax and the gift tax are unified under the tax code. Learn more about the annual gift tax exclusion in this presentation.