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Law Offices of Daniel Timins
Daniel A. Timins is a Trusts and Estates and Elder Law attorney, and a Certified Financial Planner®. He works with clients to preserve family wealth, decrease taxes, maximize utilization of government programs, and minimize creditor claims against family members. He practices law in New York, where he teaches both the public and other attorneys about Wills, Trusts, Medicaid, Probate and strategies to maintain assets and personal dignity as people age.
A "testamentary trust" created by your will gives your assets, and the vulnerable people you want them to go to, added protections.
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Based on tax treatment and required minimum distribution rules, these are the three best and four worst beneficiaries to name for your individual retirement accounts.
When executed properly, estate planning can minimize legal fees, decrease taxes and lower administrative expenses.
Both a prenuptial agreement and a family trust can keep your wealth from going to your children's potential ex-spouses.
You can use simpler and more private methods to leave certain assets to your loved ones after you die.
Focusing on accumulating assets may give you opportunities to benefit from government tax incentives and programs, and to transfer wealth to loved ones.
Even if you are eligible, you shouldn't rush into applying for coverage. Here are five scenarios to consider in your planning.