What Is the Difference Between a Legacy and a Grantor Trust?
Estate Attorney and Advisor Chris Berry of Castle Wealth Group answers questions on retirement and estate planning every Wednesday at 1pm www.wisdomwebinar.com to register or give our office a call at 844-885-4200. Castle Wealth Group and Christopher Berry help families with estate planning, elder law, retirement planning, and tax planning from their offices.
In this week’s webinar, Attorney and Advisor Chris Berry of www.castlewealthlegal.com answers the below questions.
0:00 Introduction
1:25 What is the difference between a Legacy and a Grantor Trust? What is the difference between a Legacy and a Castle Trust? Does a Legacy Trust protect from lawsuits and Medicaid spend-down?
6:30 Are there strategies that can be used to protect your Social Security and Pension income when it exceeds the Medicaid Qualification limits?
10:46 Mom turned 90 and wants to make large annual gifts, will that be an issue for the Medicaid 5-year look back?
15:30 Just retired this past spring, and my employer sold the business a few years back. When he heard I retired he sent me a $5,000 check from his personal account which is labeled a gift account, which says thank you for being his long-time employee, the way I understand this gift is not taxable and not listed on my tax return because it’s under the annual dollar limit a person can gift.
About Castle Wealth Group
Contact Castle Wealth Group for all your estate planning needs. We build a perfect strategy for your retirement, including income planning, investment planning, tax planning, health care planning, and legacy planning. Visit our website or call us at 844.885.4200 or email us for your financial advice.
Join our Weekly Wisdom Webinars
Estate Attorney and Advisor Chris Berry of Castle Wealth Group answers questions on retirement and estate planning every Wednesday at 1pm www.wisdomwebinar.com to register or give our office a call at 844-885-4200.
