| Co-Ownership Myths - III |
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| One of the most confusing aspects of estate planning is the numerous myths about co-ownership of property. Many people do not understand the differences between a tenancy in common and a joint tenancy with right of survivorship. Many people do not understand what a tenancy by the entirety is or was. Many people do not understand the differences between the common law forms of co-ownership and community property. More... |
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| Medicaid Trusts |
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| Medicaid is a needs-based (welfare) benefit program administered separately by each state, but funded in part by the federal government and in part by each state. A person qualifying for Medicaid is allowed to have only a minimal amount of assets, other than a home. Although each state may have certain differences in its particular Medicaid regulations, each must follow certain basic federal guidelines in order to be eligible for the federal subsidy. One of those guidelines is the waiting period imposed on a person who transfers assets and later applies for Medicaid benefits. More... |
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| Inheritance Without Planning Means No Changing the Default Plan |
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| When a person dies intestate (without making and leaving a will), each state provides a default plan (usually known as the statute of descent and distribution) under which his or her net estate is disposed. When a person dies intestate, there is no changing the default plan. The default plan's sequences for determining who inherits and how much can not be changed. This article discusses the disadvantages of descent and distribution related to that inability to change who inherits and how much. More... |
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| Wills - The Writing Requirement |
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| A written will is obviously required to be in writing. What the writing requirement really means is that the medium a will is written in must be sufficiently permanent. The medium must be permanent enough to provide a reliable record of the testator's testamentary desires for the probate court. More... |
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| Gifts During Life - I |
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| An intentional transfer of property made from the generosity of the transferor is known as a gift. The person who makes a gift is known as the donor. The person who receives a gift is known as the donee. More... |
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