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The Hidden Dangers of Joint Accounts

December 19, 2018 By tomwhitmore

The Hidden Dangers of Joint Accounts Many people believe that joint ownership of bank accounts and real estate are an effective way to avoid probate and transfer money to loved ones. But while joint accounts can be useful in certain circumstances, they can have dire consequences if not used properly. Adding a loved one to Read More

Filed Under: Estate Planning, Finances, Medicare/Medicaid

What Is a Special Needs Trust?

October 24, 2018 By tomwhitmore

What is a Special Needs Trust? A “special needs trust” is a specific type of trust that is established for a person with special needs to supplement the benefits the person with special needs may receive from government programs such a SSI and Medicaid. A properly drafted special needs trust will allow the beneficiary to Read More

Filed Under: Estate Issues, Estate Planning, Medicare/Medicaid, Social Security, Special Needs Trusts

Help for People with Disabilities

October 24, 2018 By tomwhitmore

Help for People with Disabilities Federal legislation adopted in 2015 allows people with disabilities who became disabled before they turned 26 to set aside up to $14,000 a year in tax-free savings accounts without affecting their eligibility for government benefits. Generally a disabled person cannot have assets worth more than $2,000 without forfeiting eligibility for Read More

Filed Under: Estate Planning, Medicare/Medicaid, Social Security, Special Needs Trusts, Vulnerable Adults

Tax Benefit of Nebraska Transfer on Death Deed

September 13, 2018 By tomwhitmore

Tax Benefit of Nebraska Transfer on Death Deed The main asset of many retired couples is their home. It is common practice for the property to be jointly owned, so that in the event of the death of one of the couple, the home transfers smoothly to their spouse. We often recommend use of a Read More

Filed Under: Estate Planning

Your Last Will and Testament

February 12, 2018 By tomwhitmore

Your Last Will and Testament A Last Will and Testament is the legal document where you set out how your assets will be distributed and how your dependents will be cared for after you die. A Last Will and Testament is frequently the centerpiece of an Estate Plan. A person who dies with a will Read More

Filed Under: Estate Planning, Fiduciaries

60% of Americans Don’t Have an Estate Plan

January 4, 2018 By tomwhitmore

60% of Americans Don’t Have an Estate Plan Seriously.  I recently came across this surprising information on estate planning. • Over 60% of Americans don’t have an estate plan….no will or trust….nothing!! • The cost of not having an estate plan is high – in both time and money. • When there has been a Read More

Filed Under: Estate Planning

Uniform Fiduciary Access to Digital Assets Act

December 6, 2017 By tomwhitmore

The Digital Afterlife Is a Mess In today’s world, many of us have chosen to go paperless, so all of our financial statements are delivered electronically; we even file digital tax returns. Our love letters may no longer be written in ink on paper, our reading and listening and viewing interests no longer documented by Read More

Filed Under: Estate Planning

Really, Everyone Needs a Will

April 26, 2016 By tomwhitmore

Really, Everyone Needs a Will — To begin with, by having a will, you can control who receives your property after your death. Without a will, the state you live in determines how your property is distributed, and you likely would do it differently. People don’t usually thinking about making a will until they are Read More

Filed Under: Estate Issues, Estate Planning

Revised Uniform Fiduciary Access to Digital Assets Act – LB 829

March 21, 2016 By tomwhitmore

Revised Uniform Fiduciary Access to Digital Assets Act – A Summary – On April 13, 2016 the Nebraska Legislature passed LB 829, which adopts the Revised Uniform Fiduciary Access to Digital Assets Act (Revised UFADAA). The Act was signed into law by the Governor on April 20, 2016. In the Internet age, the nature of property Read More

Filed Under: Estate Issues, Estate Planning

Special Needs Trust for Grandchild

March 10, 2016 By tomwhitmore

Question: Can I leave property in my will to my special needs grandchild? — Answer: While you can certainly bequest money and assets to those with special needs, such a bequest may prevent them from qualifying for essential benefits under the Supplemental Security Income (SSI) and Medicaid programs. However, public monetary benefits provide only for Read More

Filed Under: Estate Planning

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Whitmore Law Office
7602 Pacific Street, Suite 200
Omaha, NE 68114
info@whitmorelaw.com


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Recent Posts

  • The Hidden Dangers of Joint Accounts
  • What Is a Special Needs Trust?
  • Help for People with Disabilities
  • Tax Benefit of Nebraska Transfer on Death Deed
  • Court of Appeals Requires Accident Proceeds To Be Paid To Special Needs Trust

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