Category Archives: Protection from Creditors
Questions and Answers About Declarations of Homestead in Massachusetts
Each Type of Homestead Exemption Was Automatically Increased to $500,000.00 on October 26, 2004. What is a Declaration of Homestead? A “Declaration of Homestead” is a simple and inexpensive legal document that can protect part (or perhaps all) of the value of your home from most of your future creditors and lawsuits against you. Unless […]
Protecting Your Home from Creditors in Massachusetts
A Revocable “Living” Trust Does Not Protect You. Some of my clients are concerned about the possibility of losing their homes to creditors. The following are some of the ways which can help you protect your home from being sold to satisfy debts owed to creditors. (1) If you are married and you acquired title […]
Problems with Outright Gifts in the Medicaid Planning Context
An Irrevocable Trust Is Sometimes a Better Planning Maneuver Than an Outright Gift. There are several problems with outright gifts in the Medicaid planning context that can lead to the recommendation of the use of an irrevocable trust. Below are a few of these problems. (1) Appreciated Assets Clients are often concerned about leaving behind […]
