Parents usually want to leave their children equal shares of their estate, but equal isn’t always fair. If you plan to provide more (or less) for one child in your estate plan, preparation is important.
An intentionally defective grantor trust allows wealthy families to transfer assets from one generation to the next while achieving significant tax savings. IDGTs are especially useful if you have assets that will appreciate significantly over time.
The COVID-19 pandemic has caused nursing home staffing shortages across the United States, even forcing facilities to close, but some states have been hit harder than others.
Did you know you could be responsible for your parents’ unpaid bills? More than half of all states currently have laws making adult children financially responsible for their parents. However, these laws are rarely enforced.