Nebraska stands among the few states that still enforce an Inheritance Tax. This tax is applicable when property is transferred from a deceased individual (the … Understanding the Nebraska Inheritance TaxRead more
Author: LeRoy Peterson Law
Posted inLong Term Care Planning
Benefits of Irrevocable Trusts in LTC Planning
Even though Federal Medicaid law imposes a 5-year look-back period for all asset transfers there are situations in which people elect to transfer assets as … Benefits of Irrevocable Trusts in LTC PlanningRead more
Posted inLong Term Care Planning
Protecting Your Retirement Nest Egg
After decades of hard work and financial discipline, a period of long-term care can destroy a retirement nest egg and the odds are not in … Protecting Your Retirement Nest EggRead more
Posted inLong Term Care Planning
How Medicaid Works With Nursing Homes
It is crucial that all of us at or nearing our retirement years take the time to educate ourselves and then implement a plan that … How Medicaid Works With Nursing HomesRead more
Posted inLong Term Care Planning
Will We Lose Our House to The Costs of LTC
Establishing a long-term care plan for seniors is a multifaceted discussion and many times Medicaid is part of that analysis. One of the most common … Will We Lose Our House to The Costs of LTCRead more
Posted inLong Term Care Planning
How To Qualify For LTC Assistance
As an Elder Law attorney in Omaha, Nebraska, one of my primary functions is to help families plan for how they are going to pay … How To Qualify For LTC AssistanceRead more
Posted inEstate Planning
When You Need a Trust vs When You Need a Will
When it comes to estate planning, understanding the differences between a Trust and a Will is crucial. Let’s explore the basics of each and when … When You Need a Trust vs When You Need a WillRead more
Posted inEstate Planning
Importance of a Durable Power of Attorney
Protect Your Future with a Power of Attorney In essence, a Power of Attorney is the means through which your voice continues to be heard … Importance of a Durable Power of AttorneyRead more
Posted inEstate Planning
Nebraska Transfer on Death
Nebraska has adopted a new method of transferring ownership of real estate upon the death of the owner. Effective January 1, 2013 we may now use a revocable transfer on death deed (“TOD deed”) in Nebraska.
The TOD deed will operate in a similar fashion to a payable on death (“POD”) bank account. The beneficiary will not have any current ownership interest in the property during the life of the owner and will only receive ownership when the owner dies (or in the case of joint tenancy ownership) when all of the owners have died.
Posted inEstate Planning
5 Top Estate Planning Tips
This is by far the most important piece of advice I can give you. Please take a minute to reflect and truly understand the level of stress and grief your family members will experience upon your passing. I can tell you through experience they will be overwhelmed.