Dynasty Trusts: A Tax-Efficient Way to Pass Wealth Down Through the Generations
If you want to pass money to future generations without having it subject to gift and estate taxes, then a dynasty trust may be right for you.
Requiring Adult Children to Pay for Aging Parents’ Care
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.
Which States Have Been Hardest Hit by the Nursing Home Staffing Crisis?
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.
Using an Intentionally Defective Grantor Trust to Transfer Assets
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.
What to Do If You Want to Leave Your Children Unequal Inheritances
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.
Kristen Moonan & Amy Stratton Honored by RI Monthly Excellence in Law
Congratulations to MSW partners Kristen Prull Moonan and Amy Stratton who were again honored with the Professional Excellence in Law award by Rhode Island Monthly. They were recognized in the area of Wills, Estates & Trusts for the fourth year in a row. Honorees were nominated and chosen by their peers, exemplifying the leading local…
Should You Prepare a Medicaid Application Yourself?
Navigating the Medicaid application process can be complicated, especially if you are applying for long-term care benefits. Having an attorney help you through the process can be extremely helpful.
5 Rights That Trust Beneficiaries Have
As a trust beneficiary, you may feel that you are at the mercy of the trustee, but depending on the type of trust, beneficiaries may have rights to ensure the trust is properly managed.
Using a Roth IRA as an Estate Planning Tool
A Roth IRA does not have to be used as just a retirement plan; it can also be a way to transfer assets tax-free to the next generation.
When to Leave a Nursing Home and Move Back Home
Leaving a nursing home to return home is a goal for many residents and their families, but it requires careful consideration. While returning home is a good move for some, it won’t work for everyone.