How Do I Pay For Long Term Care?
Paying for long-term care (LTC) can be challenging due to its high costs. Here are several ways to finance long-term care: 1. Medicaid Medicaid is the largest payer of long-term …
Estate Planning FAQ’s
What Type of Care Should I Choose – Home Healthcare, Nursing Home Care or Assisted Living Care?
Choosing between home healthcare, assisted living, and nursing home care depends on the individual’s health needs, lifestyle preferences, budget, and the level of assistance required. Here’s a breakdown to help …
What is the Average Cost of Home Healthcare, Nursing Home and Assisted Living Care in Maryland?
1. Home Health Care In Maryland, the average cost for non-medical in-home care is about $30 per hour, which translates to roughly $5,148 per month for a typical schedule of …
What is a Bypass Trust?
A Bypass Trust, also known as a Credit Shelter Trust or Family Trust, is a type of irrevocable trust that is commonly used in estate planning to minimize estate taxes …
What is an A/B Trust?
An A/B Trust is an estate planning strategy commonly used by married couples to minimize estate taxes and ensure the financial security of the surviving spouse, while also preserving wealth …
What is a Testamentary Trust?
A testamentary trust is a type of trust that is created through a person’s will and becomes effective only upon their death. Unlike living trusts, which are established and functional …
When Should I Use a Will With a Testamentary Trust?
A will with a testamentary trust is an estate planning tool that creates a trust upon your death, as dictated by your will. You might use a testamentary trust in …
What is Estate Planning?
Estate planning is the process of organizing and managing a person’s assets and affairs to ensure that their wishes are carried out both during their lifetime and after their death. …
What is a Trust?
A trust is a legal arrangement where one party, known as the trustor (also called the grantor or settlor), transfers assets to another party, known as the trustee, who holds …
How can I Minimize Taxes on my Estate?
Minimizing taxes on your estate requires strategic planning to ensure that as much of your wealth as possible passes to your heirs rather than to tax liabilities. Here are several …