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When Does My LLC Need an Operating Agreement?
The Limited Liability Company (LLC) is one of the more common forms of business ownership for small business owners. LLCs offer flexibility, can provide asset protection, and in some cases, might provide tax advantages for a small business owner. LLCs can also use...
Dementia Trends Confirm Growing Need for Long-Term Care Planning
Dementia trends confirm growing need to include long-term care planning into their overall estate planning process.
Special Needs Trusts and ABLE Accounts: Why You Probably Need Both
There has been a lot of excitement over the development of ABLE accounts recently. While ABLE accounts can be helpful planning tools for people with disabilities, they are certainly not a replacement for Special Needs Trusts. We'll briefly look at why that is later,...
What Is a Power of Attorney and Why Might I Need One?
Powers of Attorney are an important tool for anyone over the age of 18; they specify powers for the Agent to navigate difficult times when you can’t make your own decisions.
Prepaid Debit Cards for SNT Beneficiaries
Prepaid Debit Cards Enable Special Needs Trust (SNT) Beneficiaries to Quickly and Independently Make Purchases More and more, trustees of SNTs are relying on “administrator-managed prepaid debit cards” when disbursing funds to beneficiaries. True Link is a...
If I Go on Medicaid Will I Lose My House?
Many people are afraid of losing their home if they have to enter a nursing home and apply for Medicaid to cover the extreme expense. While this fear is well-founded -- the average cost of a nursing home in Kansas City Metro is about $5,000-$7,000+ per month --...
What Happens After I Die If I Have a Revocable Trust?
Revocable trusts are often promoted with an "Avoid Probate" slogan. They are supposed to make things easier for your descendants to manage after your death. This is certainly true most of the time, but what really happens after you die? And how can you make it even...
Asset Protection: Why Should I Care About It?
What is asset protection? And why might you need to understand it? Here are 7 types of asset protection to consider.
What Assets Are Counted When Applying for SSI?
To be eligible for SSI an applicant can have no more than $2000 in assets, but there are 6 major exclusions that won’t count towards that limit…
What You Need to Know About the Tax Cuts and Jobs Act of 2017
Congress passed sweeping tax reform in late December 2017. Here’s what individuals and business owners need to know…
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