Listen to Lawrence…Medicaid’s Treatment of Trust Income

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LISTEN TO LAWRENCE Dear clients and friends, Here are two questions from one of my readers: QUESTION ONE We have an Irrevocable Medicaid Asset Protection Trust with your firm. First question is concerning interest income from a trust savings account, would Medicaid be able to take the interest (if applying …

Listen to Lawrence…Is my life insurance taxable?

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LISTEN TO LAWRENCE Dear clients and friends, Here is another one of your questions and my response: CLIENT QUESTION Is my life insurance taxable? MY RESPONSE People often overlook their life insurance when they do their estate planning…..but this could be a big mistake. While life insurance proceeds are generally …

Listen to Lawrence…Estate Tax Question Answered

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LISTEN TO LAWRENCE Dear clients and friends, Here’s the answer to one of your estate tax questions: Question for Lawrence Hi Lawrence, I have an estate worth $7 million. I understand that I have no exposure to estate taxes. Is this true? My Response I wish I could say that this is …

Listen to Lawrence…Is my home an exempt asset from Medicaid?

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Dear clients and friends, Here’s the answer to one of the most commonly asked questions: Question for Lawrence The only asset I own is my home. Is my home an exempt asset from Medicaid? Thanks, I love your emails. My Response Thanks. I started these LISTEN TO LAWRENCE emails when the pandemic began and I …