Posts by Michael Koberlein
CHARITABLE PLANNING: A FORK IN THE ROAD
You may decide to do charitable planning for several reasons. Some people do it because they want to give back to the community. Some just want a tax deduction. Others don’t have any heirs, and they want a low risk method to ensure they have enough money until they die. Whatever the reason, charitable planning…
Read MoreBE SURE TO FUND YOUR TRUST!
Probate Probate may be defined as the judicial process of administering your estate. Depending on the State, probate occurs when you pass away with or without a will. This is often an expensive and time consuming endeavor that can take several months. Naturally, people try to avoid this process by establishing a trust. While a…
Read MoreWhat Is a Miller Trust?
What is a Miller Trust? A Miller Trust is an estate planning tool some people use when they don’t meet the criteria for Medicaid (ALTCS in AZ). It is used when their income exceeds the ALTCS income requirements, but don’t make enough to cover their medical needs. With a Miller Trust, a person assigns their…
Read MoreSome QTIP Trust Advantages
WHAT IS A QTIP TRUST? Couples in their 2nd or 3rd marriages often consider a QTIP trust. This is because it works well to care for the current spouse for life. Then, it can be drafted to care for children from a prior marriage. A qualified terminable interest property (QTIP) trust is a type of…
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