Frequently Asked Questions
As you're surfing around our web site, we know that you have many questions swirling in your head.
Matters related to planning for the future can be complicated! Especially if this is the first time you've had to dig into it.
We understand it's not easy. That's why we've compiled this list of the most common questions we hear from our clients.
We hope you will find your answers here:Taxes and Gifts
- How much can I gift to my children without paying gift tax?
- Will my kids be taxed on their inheritance?
- Should I transfer my home to my children?
- What's the difference between Medicare and Medicaid?
- What will Medicare cover at the nursing home?
- Should I transfer my home to my kids?
- How do I qualify for Medicaid?
- Is it ok to give away my assets?
- What are the Medicaid penalty periods?
- What is meant by "spending down" for Medicaid eligibility?
- What is the Medicaid "look back" period?
- What's the difference between a Will and a living Will?
- What is a living trust and do I need one?
- What's the difference between a Will and a Trust?
- What is a power of attorney?
- What's the difference between a power of attorney and a durable power of attorney?
- What are advanced directives?
- What are the most common estate planning mistakes?
- What is a special needs trust?
- What is a supplemental needs trust?
- What's the difference between a special needs trust and a supplemental needs trust?
- Who are the 3 parties in a special needs trust?
- What can special needs trust funds be used for?
- What is the ABLE account?