Page 5 - Smith King News Today

Living trusts have the advantages of privacy and the elimination of challenges to the estate.

Post-nuptial agreements are possible for couples who can agree on the terms.

Will a living trust help with probate and inheritance taxes? Updated Jan 11, 2021; — Planning A. We’re glad you’re trying to plan ahead to make sure your wishes are followed. A living trust is a trust that is created during a person’s lifetime. New Jersey’s Uniform Trust Code, N.J.S.A. 3B:31-1, et seq., governs the creation and validity of trusts, said Shirley Whitenack, an estate planning attorney with Schenck, Price, Smith & King in Florham Park. She said assets in a trust are not ...

You may not owe anything if you sell soon after the death.

What can we buy for mom so she stays eligible for Medicaid? Updated Dec 23, 2020; Q. My mother is in a local nursing home receiving Medicaid benefits. Her personal cash account has grown to the point that the facility has urged us to spend $1,000 on clothing to avoid problems with Medicaid. It is a challenge to spend that much money for a 93-year-old’s wardrobe. Any suggestions? — Trying to help A. The nursing home was correct to warn you about possible problems with Medicaid. A Medicaid r...