Real Estate and Medicaid – Part 1
As I have written about many times on this blog, Medicaid is a needs based benefit.  Assets must be spent down below $2000.  Not every asset, however, is countable.  There are exempt or non countable assets.  These are assets that do not count against the $2000 limit.  Additionally, in the case of married couple the
What is the Meaning of Per Stirpes? Part 2
In last week’s blog post, I explained the term “per stirpes”, which is typically found in a last will and testament.  It is meant to cover the possibility that the person who I name in my will to receive a bequest has died before me.  As I explained last week, the term
What is the Meaning of Per Stirpes? Part 1
Whenever I review drafts of a will we have prepared for a client there are certain terms and clauses that I can almost always guarantee will trigger questions.  One of those is the term “per stirpes”. Per stirpes is actually a Latin term meaning “by branch”. It is used to describe how assets
In Terrorem Clauses – Enforceable or Not? Part 2
In my post last week, I explained the concept of an in terrorem clause.  These clauses are designed to discourage will challenges, however they do have limitations.  They work by providing that if someone challenges the will they would receive nothing.  This acts as a disincentive to challenging the will if the person