Through our many years of experience as estate planning attorneys, we have come to realize that there are three basic issues that every estate plan must address: avoiding the costs and hassles associated with probate; putting structures in place to reduce unnecessary taxation; and finally, developing a strategy for how to pay for the costs associated with long-term care. One of the best probate avoidance mechanisms is the use of trusts, such as a Life Estate or a Medicaid Trust – the differences of which are laid out in the downloadable PDF below. If you wish to learn more about the different types of trusts, please set up a consultation with a Donohue, O’Connell & Riley attorney.
