Too often, when we review a trust based estate plan for our clients, the distribution pattern says “outright to the kids at 25, 30 or 35.” The issue with this is what happens if one of the children gets a divorce after 35 or pass away or life just throws them a curveball. What if… Read more »
Save Bunches by Bunching Beginning in 2018, many taxpayers who used to itemize in prior years will no longer do so because of the substantial increase in the standard deduction. Example: In 2017, Fred and Wilma have charitable contributions of $5,000, mortgage interest of $12,000, property and property taxes of $6,000 for total itemized deductions… Read more »
Not all states recognize a Domestic Asset Protection Trust (DAPT). With the enactment of the Qualified Dispositions in Trust Act in December 2016, Michigan became the seventeenth state to recognize DAPTs. The law became effective on March 8, 2017, giving Michigan residents another estate planning tool. Before the state enacted the new law, you were required… Read more »
Michigan Estate Planning Lawyer, Chris Berry, reviews what a Castle Trust™ is, how it can protect your family and how it is not only safe, but a great tool for families looking to avoid probate, control the distribution after death and builds in asset protection. Asset protection from law suits and asset protection from the… Read more »
Is it time to check on your estate plan? Just like progress reports in school, it’s import to do a legal and financial progress report check up. For example, does your estate plan protect you from long-term care costs? Chris Berry with Berry’s Bites. Today we’re going to talk about progress reports. My kids actually… Read more »
When clients contact us they are usually after peace of mind. That is what estate and financial planning is really all about, securing peace of mind for their family. It may take different forms, estate planning, retirement income planning, long term care protection. At the end of the day it’s about peace of mind. That… Read more »
The seven key tools that are part of any comprehensive estate plan from Michigan Estate Planning lawyer, Chris Berry. The seven documents include a trust, will, financial power of attorney, medical power of attorney, personal care plan, deed and final expense plan. Transcription Hi, Chris Berry here with Berry’s Bites. Today we’re going to talk… Read more »
Medicaid Qualification in Michigan Basics. Qualifying for Medicaid can be complicated in Michigan. Michigan Elder Law Attorney Chris Berry reviews some of the basic qualification rules to get your loved one qualified for nursing home care in Michigan. Transcription Hi there. Chris Barry, certified elder law attorney and today, we’re gonna talk about Medicaid qualification… Read more »
Certified Elder Law Attorney, Christopher J. Berry, Esq., CELA reviews how many living trusts are oversold by average estate planning lawyers. There are different levels of knowledge and different levels of estate planning. Not all living trusts are created equal. It is important to sit down with someone who focuses on what your concerns are… Read more »
The Castle Trust™ is a form of modern Asset Protection Trust that can protect against long-term care costs. Not enough professional advisors understand or know about the trust. Too often as Certified Elder Law Attorneys, we are having to educate client’s professional advisors on how the trust works. Transcription Chris Berry here with Berry’s Bites…. Read more »
