Articles 2016-12-22T06:23:33+00:00


Special Needs Trust Accounts Created Under the ABLE Act

by Diane Weinberg This month’s Passionate Estate Planner continues our discussion of trusts used in special needs planning. In January, we looked at three types of special needs trusts commonly used to preserve assets for an individual with a disability while allowing that individual to qualify for public benefits: a self-settled (first party) special needs trust, a third party supplemental needs trust, and a community pooled trust. This month, we are [...]

February 17th, 2015|

Primer on Special Needs Trusts

by Diane Weinberg Last week, I received my first phone call about the Achieving a Better Life Experience (ABLE) Act, new legislation creating a type of special needs trust for individuals with disabilities. A financial planner called me about a client who was concerned that he was going to have to liquidate certain assets of his special needs child to comply with the terms of the Act. The good news is [...]

January 29th, 2015|

POWERS OF ATTORNEY – How to Avoid Potential Agent Liability with a Quick Fix

By Loraine M. DiSalvo Under the Federal Bank Secrecy Act, the U.S. Treasury Department was given the authority to collect information about financial accounts held anywhere outside of the United States. Financial accounts are broadly defined, covering bank or brokerage accounts, commodities, futures and options, mutual funds, and many other kinds of securities, insurance policies with a cash value, and any other accounts which are held with a foreign financial [...]

December 10th, 2014|

Planning for Incapacity and Death

Most people don't like to think about their own incapacity or their own death. However, the probability of disability increases with age, and death is inevitable. Planning for the possibility that you will become incapacitated can help protect your living standards during such an event. This planning can also help you ensure that the person making your decisions is the person who you would really want making those decisions. It [...]

October 23rd, 2014|

What is a Trust?

"What is a Trust?" is one of the most fundamental questions we want to answer for our clients. A trust is a legal relationship created when one entity, called the trustee, is given legal ownership of assets, and is also made responsible for managing and using those assets for the benefit of other entities, called the beneficiaries. As estate planners, we use Trusts for many different purposes; in fact it [...]

October 22nd, 2014|

Estate Planning – The Big Picture, but Critically Important, Issues.

This week, National Estate Planning Awareness Week, we'd like to take the opportunity to share information with you regarding estate planning. We provide individualized counsel and guidance in the estate planning process. As part of this process, we initially consider and discuss the following big picture, but critically important, issues: Information about the family. This discussion would include any special considerations, such as family make-up (single, married, traditional family, non-traditional [...]

October 21st, 2014|

National Estate Planning Awareness Week – October 20-25, 2014

During the third week of October every year, we recognize National Estate Planning Awareness Week. This is an ideal time for you to revisit your estate plan or make an appointment to create one. At Morgan and DiSalvo, we encourage all adults to protect themselves, their assets and their loved ones through estate planning. While it is essential to have an estate plan in place, it is equally vital to [...]

October 20th, 2014|

Morgan and DiSalvo, P.C., Encourages a Review of Estate Plans as Part of National Estate Planning Awareness Week, October 20-26, 2014

Estate Planning Attorneys Morgan and DiSalvo, P.C., encourage all adults to protect themselves, their assets and their loved ones through estate planning. National Estate Planning Awareness Week, the third week in October annually, is an ideal time to revisit your estate plan or make an appointment to create one. This year’s National Estate Planning Awareness Week is October 20-26. Estate planning offers control over what happens if one becomes incapacitated [...]

October 17th, 2014|

Estate & Trust Disputes: Common Types and How to Avoid Them

By Richard M. Morgan & Loraine M. DiSalvo Disputes that arise after a loved one dies can be incredibly destructive, to both assets and relationships. Such disputes can also cause the destruction of the loved one’s intended asset distribution plan. Careful estate planning, carried out with the help of an experienced estate planning attorney, can often avoid estate and trust related disputes entirely or help minimize the damage caused by [...]

September 12th, 2014|

Take Steps to Prevent Destructive Post-Death Disputes Over Your Estate Plan

A large part of the estate planning process is determining how you want assets distributed at your death and selecting the fiduciary who will be in charge of carrying out your intended distributions. When considering these issues, it is also critical to consider whether your desired asset distribution plan or fiduciary choice is likely to upset someone, because if an heir or beneficiary gets upset, the risk of a post-death [...]

September 11th, 2014|

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