by Thomas D. Begley, Jr., CELA The following chart compares the advantages and disadvantages of an outright transfer of assets and putting assets in a Children’s Trust. Trusts v. Transfers Comparison Issue Children’s Trusts Individuals Look-Back Five Years…
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COMPARISON BETWEEN TRANSFERS TO INCOME ONLY TRUSTS AND TRANSFERS TO CHILDREN
by Thomas D. Begley, Jr., CELA The following chart compares the advantages and disadvantages of an outright transfer of assets and putting assets in an Income Only Trust. Trusts v. Transfers Comparison Issue Income…
THE PROBLEM WITH INCOME ONLY TRUSTS IN MEDICAID PLANNING
by Thomas D. Begley, Jr., CELA Purpose Income Only Trusts are a means by which seniors transfer assets to a trust rather than to their children. Seniors tend to view transfers to trusts as protection, while they tend to…
Tagged with: Estate Recovery, Five Years, Gift Tax, Grantor Trust, Income Tax, New Jersey, Risk Avoidance
THE PROBLEM WITH INCOME ONLY TRUSTS IN MEDICAID PLANNING
by Thomas D. Begley, Jr., CELA Purpose Income Only Trusts are a means by which seniors transfer assets to a trust rather than to their children. Seniors tend to view transfers to trusts as protection, while they tend to view…
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