Medicaid Asset Protection Trust
Medicaid Asset Protection Trust A Medicaid Asset Protection Trust can help you to qualify for your long-term Medicaid care when you have assets in excess of their limits, without spending those assets down. By transferring assets into this type of irrevocable trust they protect them from being counted against you for eligibility purposes. In this article, we will go over the basics of how a Medicaid Asset Protection Trust (MAPT) works. Why Are MAPTs [...]
10 Steps to Start a Business in Arizona
10 Steps to Start a Business in Arizona Starting a business is different in every state. In this article, we will hone in on the 10 steps to start a business in Arizona. 1. Choose a Name The first step in starting a business is to choose a name. You will want to come up with one that is original and not currently in use. 2. Check Name Availability with the ACC You cannot [...]
Limited Liability Company Frequently Asked Questions
Limited Liability Company Frequently Asked Questions A limited liability company is a business structure that millions of businesses use. In this article, we will answer 8 limited liability company frequently asked questions. 1. What is an LLC? A limited liability company, or LLC is a popular type of business structure. It creates an entity that is separate from its member(s). If you use it properly it will prevent you from being personally liable for [...]
Living Trust Frequently Asked Questions
Living Trust Frequently Asked Questions A living trust is a very useful estate planning document and is a piece in the puzzle of a complete estate plan. In this article, we will go over 5 living trust frequently asked questions. 1. What is a Living Trust? A living trust is a legal entity that you set up to hold your property. You create and fund it as the Grantor. The Trustee then manages the [...]
Frequently Asked Questions About Special Needs Trusts
Frequently Asked Questions About Special Needs Trusts A special needs trust is a unique type of trust that allows a disabled individual to receive supplemental support without putting their eligibility for government benefits in jeopardy. In this article, we will go over 7 frequently asked questions about special needs trusts. 1. What is a Special Needs Trust? SNTs are designed to hold and manage assets for the benefit of a person with disabilities. This [...]
Qualified Terminable Interest Property (QTIP) Trust
Qualified Terminable Interest Property (QTIP) Trust A Qualified Terminable Interest Property Trust, or QTIP Trust, is a type of irrevocable trust. It allows you to provide for your surviving spouse while still providing for secondary beneficiaries, such as children from a previous relationship. In this article, we will go over the basics of how a QTIP works. Income Provisions When you set up a QTIP you need to name a trustee to care for [...]