Everything Estate Planning

#316 | You Earned It. Protect It!   𝗖𝗼𝗻𝗴𝗿𝗮𝘁𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀 𝗼𝗻 𝗬𝗼𝘂𝗿 𝗥𝗲𝘁𝗶𝗿𝗲𝗺𝗲𝗻𝘁 𝗮𝗻𝗱 𝗣𝗮𝘆𝗶𝗻𝗴 𝗢𝗳𝗳 𝗬𝗼𝘂𝗿 𝗛𝗼𝗺𝗲! 🎉   Now What?! 🏠 Should you tap into your home's equity—or protect it? 🏥 What if unexpected medical costs arise? 💼 Even with insurance, could you still lose your assets? 🚨 The answers may surprise you!   In this episode, we'll show you how to safeguard the assets you've worked so hard to build and...

#315 | You Doing This Benefits Everyone   We are often called the "sandwich generation," and the choices we make today have far-reaching implications for everyone in our lives.   By taking a few straightforward steps now, we can save ourselves and our families a significant amount of time, money, and frustration. It begins with us—we need to prioritize our own well-being first. Only then can we ef...

#314 | Do I Have to Use the Sale Proceeds to Pay the Debt?   𝗚𝗿𝗲𝗮𝘁 𝗩𝗶𝗲𝘄𝗲𝗿 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻 : If you inherit your mother's house, do you the credit card bills have to be paid from the proceeds of the sale? Welcome to the world of creditor claims. Curious to get all the details and clear up any confusion? Listen to this insightful podcast now and get the answers you need to navigate this challenging situati...

#313 | How to Propel the Probate Process Facing This Probate Challenge? You're a beneficiary, the 𝘀𝗹𝗼𝘄 - 𝗺𝗼𝘃𝗶𝗻𝗴 𝗽𝗿𝗼𝗯𝗮𝘁𝗲 process is really frustrating, and you feel you've been 𝗹𝗲𝗳𝘁 𝗶𝗻 𝘁𝗵𝗲 𝗱𝗮𝗿𝗸 . You might be curious about the estate's value, wondering how you ended up in the will or trust, or feeling anxious because the executor or trustee isn't keeping you informed. Maybe you even thought you'd h...

#312 | 𝗙 𝗔𝗤 : 𝗖𝗮𝗻 𝗮 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲𝗱 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗕𝗲 𝗣𝗹𝗮𝗰𝗲𝗱 𝗶𝗻 𝘼𝙣𝙮 𝗧𝘆𝗽𝗲 𝗼𝗳 𝗧𝗿𝘂𝘀𝘁 ? Placing a mortgaged property into a trust is possible but involves various considerations and potential restrictions. Attorney opinions can differ on this topic. Some advocate for more aggressive approach while others prefer a conservative strategy for increased protection. This episode breaks down the key issues and provides...

#311 | Help Me Leave My Half to My Daughter Viewer Question: "I live in the house that my sister and I inherited from our mother. If something were to happen to me, what happens to my half? I want my share of the property to go to my daughter." Achieving this goal largely depends on how the house is titled and whether there is a comprehensive estate plan in place to clearly outline your wishes. Th...

#310 | It Might Still be Valid & You May be Out of Luck If my father appointed me as the executor of his will 30-40 years ago, is it still valid? While it might still hold validity, it could also be outdated and no longer relevant. If you're listening to this podcast, you can access the referenced timeline at www.zammittilaw.com to determine where you stand and if it's time to update your father's...

#309 | What if the Attorney Also Dies?   Imagine you're unable to find the original will, and the attorney who handled it has also passed away. What do you do? Who can you turn to for help? How do you even begin the estate administration process?   Unfortunately, it's not uncommon for estate planning attorneys to leave their practice without any contingency plans in place. Here are some steps you...

#308 | Where Do I Find the Estate's Debt?   When someone passes away and you are appointed as the Trustee or Executor, how do you ascertain the estate's debt? Where should you begin? How much time and effort will be required to settle the debt? Is there a risk of personal liability if you're managing the estate administration?   Get the insights you need here to confidently navigate estate adminis...

#307 | 𝗪𝗵𝗼'𝘀 𝗟𝗼𝗼𝗸𝗶𝗻𝗴 𝗢𝘂𝘁 𝗙𝗼𝗿 𝗠𝗘? When a beneficiary is stuck in probate limbo, do they have any recourse? Do they need to hire their own attorney? If so, what qualities or qualifications should they look for? The options available can vary depending on the situation and family dynamics. Here are a few key points to consider. --   We're here to help you learn more !  Please comment and let us know...

#306 | Can I Buy Gran's House Before She Dies?   Granny's Trust stipulates that I buy her house upon her death, but I'd like to buy it now. Is this legal? Are there 𝗽𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹 𝗯𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗼𝗿 𝗿𝗶𝘀𝗸𝘀 that I should know about? How complicated is it to purchase the house in trust 𝘣𝘦𝘧𝘰𝘳𝘦 her passing?   Here are some important considerations before making any final decisions. . We're here to help you learn m...

#305 | 𝗛𝗼𝘄 𝘁𝗼 (𝗣𝗿𝗼𝗽𝗲𝗿𝗹𝘆) 𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿 𝗬𝗼𝘂𝗿 𝗥𝗲𝗮𝗹 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝘁𝗼 𝗮 𝗧𝗿𝘂𝘀𝘁   Transferring real property to a trust involves more than just the transfer itself; it also requires updating your homeowner's policy.   There are four essential steps, and you'll definitely want to have expert legal guidance when doing so. Also, if you have property in multiple states, be sure your local attorney is willing to coord...

#304 | Stocks, Capital Gains & Sharing With Siblings  Inheriting stock? Wondering if you'll owe capital gains tax or how to share with siblings without triggering tax headaches? 🤔💰 The rules might surprise you! Watch to learn how to make the smartest move. 📈   --   We're here to help you learn more !  Please comment and let us know if you found this additional knowledge useful to you…and plus,...

#303 | Can Funds From an Irrevocable Trust Cover Future Rent?  It depends! In some states, trust income can be used—while in others, it could create a Medicaid mess. 🏡💰 Know the rules, plan ahead, and protect what matters!     --   We're here to help you learn more !  Please comment and let us know if you found this additional knowledge useful to you…and plus, it would be awesome if you would SU...

#302 | Pending Lawsuits & Probate In this episode, we explore the crucial question: " 𝘋𝘰𝘦𝘴 𝘢 𝘗𝘦𝘯𝘥𝘪𝘯𝘨 𝘓𝘢𝘸𝘴𝘶𝘪𝘵 𝘰𝘧 𝘢 𝘋𝘦𝘤𝘦𝘥𝘦𝘯𝘵 𝘎𝘰 𝘛𝘩𝘳𝘰𝘶𝘨𝘩 𝘗𝘳𝘰𝘣𝘢𝘵𝘦 ?" The short answer is "Yes." but we'll explain 𝘄𝗵𝘆 𝗮𝗻𝗱 𝗵𝗼𝘄 a decedent's pending legal matters are managed through the probate process.   --   We're here to help you learn more !  Please comment and let us know if you found this additional knowledge useful t...

#301 | Does This Mean Probate is Unavoidable?  A listener recently posed the question: " 𝘚𝘪𝘯𝘤𝘦 𝘵𝘢𝘹 𝘳𝘦𝘧𝘶𝘯𝘥𝘴 𝘮𝘶𝘴𝘵 𝘨𝘰 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘱𝘳𝘰𝘣𝘢𝘵𝘦 , 𝘥𝘰𝘦𝘴𝘯 ' 𝘵 𝘵𝘩𝘢𝘵 𝘮𝘢𝘬𝘦 𝘪𝘵 𝘪𝘮𝘱𝘰𝘴𝘴𝘪𝘣𝘭𝘦 𝘵𝘰 𝘢𝘷𝘰𝘪𝘥 ?" The simple answer is, "NO," and here are some reasons why. We'll also explore why, 𝘦𝘷𝘦𝘯 𝘪𝘧 𝘺𝘰𝘶 𝘤𝘢𝘯 ' 𝘵 𝘤𝘰𝘮𝘱𝘭𝘦𝘵𝘦𝘭𝘺 𝘢𝘷𝘰𝘪𝘥 probate, you'll still want to 𝘮𝘪𝘯𝘪𝘮𝘪𝘻𝘦 any court involvement as much as possible.   --   We're here t...

#300 | LLC Rentals & Trusts: Why Waiting Could Cost You! You've got property, an LLC, and a trust—congratulations! Should you transfer your LLC rental properties into your trust now or wait until a spouse passes? The answer might surprise you! In this episode, we break down key details, clear up common misconceptions, and reveal why acting sooner rather than later could  𝘀𝗮𝘃𝗲 𝘆𝗼𝘂𝗿 𝗳𝗮𝗺𝗶𝗹𝘆 𝘀𝗶𝗴𝗻𝗶𝗳𝗶𝗰𝗮...

#298 | What if I Can't/Don't Want to Do It?    So, you've been named as a fiduciary. You're now responsible for making decisions on behalf of someone who is incapacitated or managing an estate after someone has passed away.   What if you feel unprepared or unwilling to take on this responsibility? Are you obligated to accept the role? And if you choose to decline, can you be held to account for th...

#297 | Do I Have to Sign My Will In Person?   How well is estate planning keeping up with today's digital era? How easy is it to electronically sign or remotely finalize your estate plan?   The answer largely depends on your location. Jurisdictions have varying laws regarding the validity of electronic signatures on legal documents. Compliance with local legal requirements is essential to ensure y...

#296 | Unveiling the Corporate Transparency Act: What Every Business Needs to Know.  Ever heard of the Corporate Transparency Act (CTA)? It's shaking up the business world, and you can't afford to miss out. Discover how it impacts your business, big or small, when it goes into effect (Hint" It technically already has), and the serious consequences of not complying. Ready to protect your business?...

#295 | Can a Revocable Trust Protect Against a Medicaid Lien?    How does a revocable trust stack up again long term care costs?   Are you curious if placing your house in a trust can shield it from long-term medical care costs, especially when applying for Medicaid? Here's what you need to know.   Here's what you need to know. --   We're here to help you learn more !  Please comment and let us kn...

#294 | Should I Include the Date in My Trust Name?   𝗗𝗼 𝗬𝗼𝘂 𝗛𝗮𝘃𝗲 𝘁𝗼 𝗣𝘂𝘁 𝘁𝗵𝗲 𝗗𝗮𝘁𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗡𝗮𝗺𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗧𝗿𝘂𝘀𝘁? "𝘞𝘩𝘢𝘵'𝘴 𝘪𝘯 𝘢 𝘕𝘢𝘮𝘦? 𝘈 𝘳𝘰𝘴𝘦 𝘣𝘺 𝘢𝘯𝘺 𝘰𝘵𝘩𝘦𝘳 𝘯𝘢𝘮𝘦 𝘸𝘰𝘶𝘭𝘥 𝘴𝘮𝘦𝘭𝘭 𝘢𝘴 𝘴𝘸𝘦𝘦𝘵." Good news, you can call it whatever you want. Bad news, your choice could complicate things.   --   We're here to help you learn more!  Please comment and let us know if you found this additional knowledge useful to you…and pl...

#293 | 𝗛𝗼𝘄 𝗖𝗮𝗻 𝗜 𝗔𝘃𝗼𝗶𝗱 𝗣𝗮𝘆𝗶𝗻𝗴 𝗧𝗮𝘅𝗲𝘀 𝗼𝗻 𝗠𝘆 𝗜𝗻𝗵𝗲𝗿𝗶𝘁𝗮𝗻𝗰𝗲?  There are a 𝗳𝗲𝘄 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝘁 𝘁𝘆𝗽𝗲𝘀 of taxes that might apply to an estate, with some being settled before the inheritance is distributed and others afterward. Knowing the difference and how each type impacts you as a beneficiary is key. Navigating the world of inheritance taxation can be complex, but understanding the basics can significantly im...

#292 | Will This New Tax Rule Impact Your Retirement? Recent rule changes mean that many beneficiaries are now required to 𝘄𝗶𝘁𝗵𝗱𝗿𝗮𝘄 𝗮𝗹𝗹 𝗳𝘂𝗻𝗱𝘀 𝘄𝗶𝘁𝗵𝗶𝗻 𝗮 𝗱𝗲𝗰𝗮𝗱𝗲.  This shift raises important questions: Will you face higher taxes? How will your family be affected? The impact largely depends on who the beneficiaries are and the structure of your estate plan. In this episode, we will delve into who is m...

#291 | What Goes Through Probate?   Everything but the kitchen sink!!   Well, not quite. But, when it comes to estate planning, it's often more complex than you might anticipate—especially without a solid plan in place.   Get those 🦆🦆🦆 in a row now. Ensure your affairs are in order so your family won't have to face the difficult scenarios highlighted in today's episode.   --   We're here to hel...