Many people want to know does it make sense to put my house in a trust. Often, this question comes up with a vacation home, or a home that has been in the family for some years and the family wishes to keep the home in the family. A trust can give you better control than a will or a deed over how your assets are transferred from one generation to the other. And, a trust may offer other advantages such as asset Read More
How to Choose a Trustee For Your Family Trust
If you're in the process of setting up a trust or if you're reviewing a trust set up some years ago an important part of the process and worthy of careful consideration is who to choose to act as trustee of your trust. Typically you will be the first trustee but your chosen successor trustee will take over management of the trust when you are gone. This person will be making all the decisions once you're gone and Read More
10 Questions to Ask Before You Hire a Financial Adviser
Most people don't know how to hire a financial adviser. Often we will get a referral from a friend or a professional such as a lawyer or account. Often these are good methods of finding a good investment adviser. But, if you are creating a family trust and want to hire a financial adviser to manage the money in the trust, you probably want a traditional personal financial adviser or financial consultant. You Read More
Qualify for Medicaid With a Miller Trust
Many seniors find themselves in need of Medicaid to pay for their long-term care but are surprised to learn that their modest monthly income may disqualify them. The reason for this is that Medicaid is a “means-tested” benefit. In other words, you must not have income exceeding certain thresholds in order to qualify and receive Medicaid benefits. For example, in New Jersey, the monthly income limit for nursing home Read More
