What is the Difference Between a Trust and a Will?
A trust and a will are two legal documents that no estate plan should be without, yet they serve entirely different functions. Both documents work together to ensure your wishes ...
When You Should Update Your Estate Plan- Cleveland Elder Law Attorney
Certain life events necessitate making an appointment with your elder law attorney to review and update your estate plan. These events are: Increase or Decrease in Assets. Your estate may ...
Estate Planning When Step-Family is Involved
A recent court case shed light on the importance of taking not only current family relationships into consideration when planning your estate, but also potential step-relatives that may join your ...
What are Medical Directives?
A medical directive, also referred to as an advance directive, is a directive that typically accompanies a health care proxy, but it may also be a separate document. A medical ...
How to Keep Your Life Insurance Policy From Being Taxed After Your Death
If the beneficiary of your life insurance policy is someone other than your spouse, such as your children or other family member, your policy may be included in your taxable ...
Medicaid Ineligibility Period- Cleveland Elder Law Attorney
Another downfall to gifting assets is that the children given the assets may not save for the parent’s needs. When a trust is used to protect assets for long-term care ...
The Four D’s of Estate Planning- Cleveland Elder Law Attorney
A trust is often created to protect assets from the costs of long-term care. We are often asked why it is not advisable to simply give assets to a family ...
Special Needs Trusts- Cleveland Elder Law Attorney
Special needs trusts, or supplemental needs trusts, are a type of trust designed to provide benefits to a person who has a disability while protecting their assets. The main reason ...
Testamentary and Inter Vivos Trusts- Cleveland Elder Law Attorney
Testamentary and inter vivos trusts are two types of trusts that should be explored when estate planning. Testamentary Trusts A testamentary trust is created as part of the last will ...
Revocable and Irrevocable Trusts- Cleveland Elder Law Attorney
There are many types of trusts, designed for a variety of purposes. In fact, a trust may be created for any legal purpose. Two terms that you will likely hear ...