Steve Weisman, Estate Planning Attorney

Recently Published on Caring.com

• Will there be any difficulty withdrawing funds from joint accounts that my mother and I share? — Jul 20, 2008
  Assets that are held in joint names generally pass to the surviving joint owner upon the death of the other joint owner. This means that when your mother passes away, whate...

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  Who manages life insurance money left to minor children beneficiaries? — Jul 20, 2008
  The life insurance proceeds left to a minor child who is a beneficiary of a life insurance policy are managed on behalf of the child by the child's guardian or parent until...

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  How can I set up a trust account in a bank for my granddaughter? — Jul 01, 2008
  The best way to set up a trust account -- especially for a large sum of money -- is to have a lawyer draft a trust specifically tailored to your specific needs and wishes. ...

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  Can I pre pay funeral expenses with my mother's life insurance policy? — Jun 17, 2008
  You cannot assign the ownership of your mother's life insurance policy in return for a prepaid funeral contract with a funeral home, but you do have some other options that...

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  When should my husband relinquish the checkbook? — Jun 17, 2008
  The right time to step in and take away a person's ability to handle their own financial affairs is a very difficult thing to determine.If you wait too long, there is the r...

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  Will my stepmother be financially responsible for my dad's care once his insurance money runs out? — Jun 17, 2008
  Medicaid is the only government program that will pay for long-term care in a nursing home.The bad news is that the Medicaid rules are extremely complex and confusing. The ...

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  What happens to joint assets and finances if one spouse is filing bankruptcy when separated? — Jun 16, 2008
  This is a complicated situation and it is further complicated by the fact that the laws that pertain to this situation differ significantly from state to state.Your mother-...

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  Is there financial aid for caregivers? — Jun 12, 2008
  There are millions of people in America taking care of elderly parents without any pay. Unfortunately, there is no direct financial aid that can help compensate you for the...

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  Is there a financial planner (book) one could purchase for... — May 23, 2008
  Precise record keeping is an essential element of acting as a fiduciary or agent for someone and managing their finances.There are many good computer programs that can assi...

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  How do I compensate a sibling who is the primary caregiver for our parent? — May 23, 2008
  According to the General Accountability Office, about 80% of home-care services are provided by family caregivers. The services that they provide are tremendous. Many times...

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  With no assets and cash, how can I pay for my own final expenses? — May 23, 2008
  Facing one's own passing is a difficult enough ordeal without having the additional burden of not knowing how to pay for final funeral expenses.Fortunately, there are a num...

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  Is my father responsible for money borrowed on his credit card? — May 20, 2008
  Unfortunately, without more facts, I have to give you the Typical Lawyer Answer which is: "yes, and no."If your brother wasn't authorized either as a co-signer or...

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  My parents just deeded their home to me for $1.00. Do I still qualify to be gifted the 2008 $12,000.00 amount without being gift taxed? — May 20, 2008
  The gift tax rules are very much misunderstood by many people. You, as the person who receives a gift, aren't required to pay a gift tax. The gift tax is always assessed to...

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  What are the first steps in getting my mother's home deeded to my siblings and me? — May 10, 2008
  The first thing you should do is ignore your mother's advice.I know this is heresy and I am sure your Mom has given you great advice in the past. But this time her advice w...

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  What's a Totten Trust and does it protect assets? — May 10, 2008
  A Totten Trust is somewhat of a misnomer because it is a trust in name only.In reality, there is no trust document. Rather, it is an informal trust arrangement accomplished...

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  Should I put my only daughter on my car title? — May 10, 2008
  You may be considering putting her name on the title of your car because you think it will help ensure that the car would quickly pass to her if you were to die.However, ma...

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  How can I reconcile the debt of my late father? — May 10, 2008
  Tthe key thing to know is that you, as an individual, have no personal responsibility to pay for your father's final debts.Final medical bills are a debt of an estate and m...

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  What is the age limit for long term care insurance? — Apr 27, 2008
  Generally, insurance companies do not sell long-term care insurance policies to people over the age of 84. Even if you were able to find a company that would sell you long-...

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  When is it the age to buy long term care insurance? — Apr 27, 2008
  The earlier you buy long-term care insurance, the lower your premiums will be.Although insurance companies will sell long-term care insurance to someone as young as eightee...

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  From what money are final expenses paid first? — Apr 27, 2008
  We often hear about our money that you can't take it with you, but when it comes to debts, you can leave them behind.The debts of your girlfriend and her funeral expenses a...

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  Who is responsible for the final costs of my almost ex-husband? — Apr 27, 2008
  Married people are not responsible for the individual debts of their spouses unless they have taken on the debts themselves, like when you co-sign a loan. So, even though y...

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  How do we deal with the expenses associated with the cost of burying my mother when her life insurance policy doesn't cover everything? — Apr 27, 2008
  If the life insurance policy or other assets of your mother are not sufficient to pay for her burial, there are some other sources for assistance in this dire time.Social S...

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  I made the decision to take my wife off life supports at the doctors recomendation. Will I have problems with her lfe insurance carrior when filing to collect? — Apr 27, 2008
  One of the most difficult choices anyone can face is whether to terminate life support when you are acting as an agent under an advance care health directive.Although the l...

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  Should I put an IRA in a living trust? — Apr 27, 2008
  There are a lot of good reasons to combine your IRA and living revocable trust, but the process can be complicated so it's important to work with an attorney or other estat...

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  Is there federal assistance for caregivers? — Apr 09, 2008
  There are some programs that may be able to offer some help for your family. Medicare provides some payments for hospice care that may apply in this situation. In addition,...