Long-term care insurance helps preserve an estate

Article Abstract:

Responsible estate planning includes planning for long-term care (LTC) with either insurance or Medicaid so that the estate will not be depleted by medical costs. Sometimes it is possible to qualify for Medicaid by divesting excess assets, but this is becoming more difficult. Clients should decide carefully how much coverage they need since upgrades may not be available. Clients should also pay attention to what events trigger coverage, to inflation protection and to nonforfeiture provisions.

Laws, regulations and rules, Long-term care insurance, Long term care insurance

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Using foreign situs trusts for asset protection planning

Article Abstract:

Foreign situs trusts may be used asset protection planning. The goal of this type of planning is protection from potential future creditors, thus enhancing estate planning. Foreign situs trusts are the best type of asset protection trusts. One advantage of a foreign trust is that the assets may remain in the domestic jurisdiction of the settlor after the trust has been created.

International aspects, Trusts and trustees, Trustees, Trusts (Law)

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