A will and a trust are separate legal documents that typically share a common goal of facilitating a unified estate plan. While these two items ideally work in tandem, since they are separate documents, they sometimes run in conflict with one another–either accidentally or intentionally.
Running and owning a business is just like raising a child: Both are investments in the future, and both require a lot of time, resources and effort to raise successfully. One can argue that you would treat your business like you’d treat a child; you’d want it to succeed even after you’ve passed on or retired.
Congress passed an important retirement-savings law called Setting Every Community Up for Retirement Enhancement, or the SECURE Act of 2019.
One of the most dramatic scenes in the movie, is the gathering of the Thrombey Family at their father’s estate to hear the reading of the will.
When you put your assets into a Medicaid Asset Protection Trust (MAPT), Medicaid does not count those things toward the asset limit.