Annual Gift Tax Exclusion and Medical Assistance Help Hudson WI

Elder Law and Estate Planning Attorney serving clients in Hudson, WI and surrounding communities

Gift Planning and Medicaid…Use Caution!

Annual Gift TaxThere are many reasons why we make gifts to our children or loved ones. Whether we’re helping them with college tuition, buying that first home, or assisting with a medical or financial hardship, we’re compelled to take care of our family. As an Estate Planning Attorney I find that many of my clients in their senior years often feel the need to begin gifting their assets to their children or grandchildren. But great care should be taken when making gifts in our later years. Careful planning with an attorney experienced in Estate Planning and Elder Law is necessary to help ensure that your gifting is not jeopardizing your eligibility for the Medicaid program should you ever need assistance with your medical expenses or long-term care needs. When I explain this to my clients, their first response is always to remind me of the annual gift tax exclusion, which allows them to gift a certain sum of money to each child and/or grandchild each year without gift tax consequences. Well, that’s true, but read on. Continue reading →

Real Estate Law: Protect You Real Estate Investment with a Real Estate Attorney

For Sale By Owner Attorney

The real estate market is finally beginning to recover. Whether you’re working with a realtor, or venturing out on your own to buy or sell a property, it’s always a good idea to consult with an experienced real estate attorney. This is especially true with a For Sale by Owner transaction, also know as a FSBO.For Sale By Owner

A real estate transaction often begins with a document referred to as an Offer to Purchase.  While this document may appear to be a fairly innocent looking form, it is in fact a legally binding contract that consists of several important provisions. Unsuspecting sellers and buyers often have no idea of the legal consequence of these provisions. Great care must be taken to ensure that a real estate offer is properly prepared, and that all necessary contingencies and terms are included. Each contract should be custom tailored to each set of circumstances.

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Make Proper Estate Planning a New Year’s Resolution

Goals 2014Proper Estate Planning can Avoid  Legal Battles.

New Year’s Resolutions. We all make them; we all break them. But estate planning is one resolution that’s too important not to keep. Whether you live in my home town of Hudson, WI or across the river in the great land of MN, you’re never too young to have your affairs in order with a suitable Last Will & Testament, Revocable Living Trust, Power of Attorney documents, and a Living Will. Continue reading →