Articles

Protecting Special Needs Inheritances

I had a client come in this week who was the Social Security Payee for her disabled daughter. Her daughter was on Social Security Disability, Medicare and Medicaid. The father of her daughter recently passed away and was leaving a …

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Putting your Financial House in Order

If you haven’t heard already, April is National Financial Literacy Month. It is a great time to pay particular attention to financial education. According to a 2017 US Bureau of Labor Statistics survey, 46%, or nearly half of American workers …

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Social Security Myths

Last week, I attended the State Bar of Michigan Elder Law and Disability Rights Section 16th Annual Spring Conference in Plymouth, Michigan. One of the presenters at the conference was Daniel D. McHugh, a Certified Financial Planner® and Certified Public …

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Some Income Tax Questions

It’s that time of year to prepare and file your annual income tax returns. Most all individuals are calendar year taxpayers. You file your tax returns each year by April 15, reporting  income for the previous calendar year. So this …

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Creditor Protection Using Trusts

Trusts can be very effective creditor protection tools. We use them all the time for this purpose. However, there is one trust, that although it can provide fabulous creditor protection for other trust beneficiaries, it does not provide any creditor …

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Making Your Trust Work by Funding it

We had one of our clients in this week for a trust review. She said that estate planning and trusts have been regular topics of discussion with her friends. They all have trusts which have been drafted by different attorneys. …

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FHA Reverse Mortgage Rules Change

It is reported that almost every reverse mortgage that is in an amount under the Federal Housing Administration (FHA) limit ($679,650 in 2018), is a federally insured Home Equity Conversion Mortgage (HECM). Because of this, we will be limiting our …

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