If you have ever been appointed the trustee of a trust, you quickly learned that there are a number of responsibilities you must follow in the administration of the trust. Those responsibilities just recently increased thanks to the Nebraska Legislature. Legislative Bill 72 (LB 72) requires that the trustee must satisfy all claims for Medicaid […]

Under current rules, the IRS will impose an Estate Tax on the estates of decedents who passed away in 2014 with a net value in excess of $5,340,000. Many individuals with a high net worth that may be subject to the Federal Estate Tax upon their death often take advantage of the IRS’ Annual Exclusion […]

Many people see or hear advertisements about having a revocable living trust prepared so they can avoid probate at their death. While such a trust may be beneficial for some, it is not necessary for everyone. A basic living trust is set up as follows: you execute a document, called a trust agreement, which creates […]