A Medicaid Trust is an Irrevocable Trust that provides a way for Medicaid applicants who have assets over Medicaid’s limit to become eligible for Medicaid long term care. Simply stated, these Trusts protect a Medicaid applicant’s assets from being counted for eligibility purposes. This type of Trust enables someone who would otherwise be ineligible [...]

A Charitable Trust is an Irrevocable Trust consisting of assets that a Grantor (donor) signs over or uses to create a charitable foundation. The assets are held and managed by the charity for a specified period of time, with some or all interest that the assets produce going to the charity. [...]

It most cases you will be the first Trustee, however, you will want to choose Successor Trustees. This individual should be someone you fully trust and who would handle your financial matters in the same manner as you would yourself. You can also appoint a bank, CPA and/or an attorney if you do not [...]

Similar to other personal representatives you will choose in your estate plan which, individual or individuals will serve as Guardian to raise your minor children as you would have done so yourself (i.e. someone who shares your same values, morals and educational standards).

You will want to store these documents in a safe and secure location such as a fire proof home safe. You will want to notify named personal representatives of where to locate these documents when it becomes necessary to utilize same. It is also recommended that you complete our “Personal Records Planner” which will [...]

It is not recommended that you provide any documentation to others as you may change or amend your estate plan in the future. This will prevent someone from coming forth with an out-of-date estate planning document and attempting to present same when you have, in fact, revoked and/or amended that document. Therefore, it is recommended [...]

No, you will still file your tax returns as you have in the past, as this does not change your tax filing situation. For more information on Revocable Trusts.

Until such time as the Revocable Living Trust becomes fully irrevocable, then you would not need to obtain an EIN for the Trust itself as you will still use your Social Security Number for the Trust during the revocable period. More about Revocable Trusts.