In review, here are the five Blog Posts from this past week for your convenience. I welcome your feed back regarding any of these posts and your input regarding any of these areas of practice which you would like for me to address.
QPRTs - Qualified Personal Residence Trusts – in Overland Park, KS
This type of trust allows a person to still live in a home for the term of the trust, deduct mortgage interest and real estate taxes, and then when the term of the trust expires, the home passes to the heirs and out of the owner's estate. The owners can retain the right to live in the home for the rest of their lives by paying fair market rent to the heirs.
Post-Nuptial Agreements & Retirement Plans: Proceed With Caution – in Overland Park, KS
Under federal pension law, there are many very strict legal requirements that must be met when a spouse tries to waive his or her rights to the other spouse’s retirement benefits. In this case, those rules weren’t met because the post-nuptial agreement was drafted incorrectly. So because the agreement wasn’t written properly, the soon-to-be-but-not-yet ex-wife got everything.
Elderly Transitions: Returning Home From Nursing Home Care – even in Overland Park, KS
These days, patients are often transferred from a hospital to a nursing home to recover. But, then, some never leave.
"The only thing I worried about was not getting out," Holmes says now. She kept asking her husband and one daughter: "'You're not going to keep me here are you?' "
Will Your Family Fight Over The “Stuff” You Leave Behind? Even in Overland Park, KS
"Fighting over personal property is the match to the tinderbox of emotions," says McManus. "Sometimes feuds start because of lingering resentments over who worked the hardest to take care of Mom or Dad when they were sick or even over who got the biggest scoop of mashed potatoes at Thanksgiving every year."
Your Adult Children Need Estate Plans Too – Especially in Overland Park, KS!
With back-to-school season upon us, it’s an issue that’s timely to consider. Once your children turn 18, you are no longer entitled to see their medical records and make decisions about their medical treatment—unless they take a few basic estate-planning steps first.
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