| Healthcare Power of Attorney Formalities |
| There are a few technical requirements with which you must comply before a healthcare power of attorney will be considered legally valid and binding. More... |
| Executors |
| The executor must state the name and domicile of the decedent, as well as the year that domicile was established. Also the executor must state the decedent's date of death and Social Security number and the name, address, and Social Security number of the estate's executor. Similar information must be given for the estate's attorney. Further general information is requested such as the decedent's business or occupation and marital status. It requires a breakdown of the estate to show how much of it was (or is to be) received by the spouse or other heirs. This is to ascertain the estate-tax marital deduction.More... |
| Executors - Certificates of Deposit and Listed Securities |
| It is especially important when dealing with certificates of deposit to be aware of the maturity dates and the terms of the certificates. Often when a certificate matures, the executor needs to take steps to change the investment, or else it is automatically rolled over into a new certificate or placed in a low-interest savings account. On the other hand, there is no necessity for the executor immediately to cash in certificates in the decedent's name that are paying an attractive rate of interest. More... |
| Medicaid Trusts |
| Medicaid is a needs-based (welfare) benefit program administered separately by each state, but funded in part by the federal government and in part by each state. A person qualifying for Medicaid is allowed to have only a minimal amount of assets, other than a home. Although each state may have certain differences in its particular Medicaid regulations, each must follow certain basic federal guidelines in order to be eligible for the federal subsidy. One of those guidelines is the waiting period imposed on a person who transfers assets and later applies for Medicaid benefits.More... |
| Gifts During Life - I |
| An intentional transfer of property made from the generosity of the transferor is known as a gift. The person who makes a gift is known as the donor. The person who receives a gift is known as the donee.More... |
Riley & Dunlap, P.C.
