The good news regarding trusts and taxation is that gifts and inheritances are not considered income for income tax purposes. This means that gifts to trusts and distributions of principal from trusts to beneficiaries are not subject to income tax. ...

A supplemental needs trust is a legislation-created device that allows chronically disabled people to benefit from income and asset-based government assistance programs even when they might have other sources of revenue. The theory behind the allowance of this device is ...

Medicaid is a hybrid federal and state program that provides health care services for those who cannot afford to pay for their own. It is administered by local Department of Social Services, which are representations of state governments, but the ...

Protecting trust assets from potential creditors for distribution to family members is an important goal of virtually every irrevocable trust. Fortunately, the creditor protection rules regarding trusts are quite favorable and allow trusts to become excellent vehicles for protecting trust ...

Trust Considerations Trusts can be established for many reasons and can dictate virtually anything that the grantor desires. After all, the trust is fundamentally a contract. In contract law, it is often stated that the offeror is the “master of ...

Despite complexities that can arise in the consideration, formation and drafting of the trust document, the trust arrangement is a very simple concept. A trust arrangement merely means that one person is holding property for the benefit of another. A ...

878 days. That’s the amount of time it took for Adrianne Gunter, an unemployed Philadelphia resident suffering from multiple sclerosis for many years to receive a decision during the appeals process for a denial of Social Security disability benefits.[1] As Gunter’s ...

InvestmentNews, an online publication and one the country’s leading news sources for financial advisers and investment strategists, has recently seen an uptick in inquiries from readers who ask about whether their grandchildren and other relatives can collect Social Security benefits. ...

The term Social Security brings to mind retirement benefits to people who leave the workforce. This makes sense, considering that more than three-quarters of the 62 million people receiving Social Security benefits receive retirement benefits. Still, social security covers others under age ...

 According to the 27th Annual Retirement Confidence Survey, three in 10 workers report that preparing for retirement causes them to feel mentally or emotionally stressed and less financially secure. Furthermore, just 18 percent of workers surveyed feel very confident about having ...