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Heritage Law Office Blog

When Should I Get a Will?

Posted by Noah Sarkauskas | May 11, 2022 | 0 Comments

What is a Will? A will is a legal document that outlines your desires for property distribution and the care of any minor children. Those wishes may not be carried out if you die without a will. Furthermore, your heirs may end up spending more time, money, and emotional energy after you pass awa...

What is Probate and How Can It Be Avoided?

Posted by Noah Sarkauskas | May 10, 2022 | 0 Comments

Probate is the legal process that your estate must go through after you pass. The court will begin the process of dispersing your estate to your heirs during this legal proceeding. If you have a Will and/or Living Trust that clearly states your wishes, probate will be much easier. These document...

The Benefits of a Trust over a Will

Posted by Noah Sarkauskas | May 09, 2022 | 0 Comments

Wills and trusts both serve the same primary purpose: transferring your property to your heirs after your death. Before deciding between the two documents, however, the differences in how function should be carefully explored. Advantages of a Trust In comparison to a will, a trust has various a...

Why You Should NOT Gift Your Home to Your Children

Posted by Noah Sarkauskas | Dec 06, 2021 | 0 Comments

When you gift your home to your children, if they ever sell the house, they are responsible for paying taxes on the value gained during their ownership as well as the value gained during your ownership. For example, if you bought a house for 100,000 dollars and it is now worth 200,000 dollars, w...

How to Save OVER $100,000 Through Medicaid Planning

Posted by Noah Sarkauskas | Oct 06, 2021 | 0 Comments

Nursing home costs are expensive and add up quickly. Within a short period of time, an entire life's savings can be depleted by paying for the cost of a stay in a nursing home. With proper planning, however, substantial value may be able to be preserved and passed along. Here is an example of how...

How to Qualify for Medicaid Through Converting Assets

Posted by Noah Sarkauskas | Sep 28, 2021 | 0 Comments

How the Medicaid System Functions The Medicaid System will pay for your care costs if you meet certain qualifications. The Medicaid System has an asset limit. As of the day this article was written, in Wisconsin, you must have less than $2,000 in assets to qualify for Medicaid. If you have more...

Does a Will Avoid Probate?

Posted by Noah Sarkauskas | Sep 20, 2021 | 0 Comments

Probate is the process of administering the estate of the person who passed by gathering their assets, paying their liabilities, and distributing the remaining assets to the beneficiaries. Trusts, when properly setup and funded, can avoid probate. The question is: Does a will avoid probate? D...

Can I Leave Money For My Dog or Cat?

Posted by Noah Sarkauskas | Sep 20, 2021 | 0 Comments

When it comes to families, people often view their pets as part of their family. A common question is whether a will or trust can provide for a pet after the owner passes. Planning for this family member has an added complexity in that our furry family member is not in a position to handle the...

Should I Put My House in a Trust?

Posted by Brad Sarkauskas | Aug 23, 2021 | 0 Comments

The answer is probably yes. Depending on your situation, it may be yes, even more. Revocable Living Trust One of the wonderful things about revocable living trusts is there are very few downsides. If you are not familiar with a revocable living trust, I like to think of a trust as a bucket. The...

Should I Gift My House to My Children?

Posted by Brad Sarkauskas | Aug 16, 2021 | 0 Comments

I am often asked by clients whether or not they should gift their house to their children. You're not going to like this lawyerly answer, but, it depends. What are you trying to achieve? Should I Gift My House to My Children? If you are transferring your house to your child as a gift with the i...

Hybrid Insurance for Long Term Care Coverage

Posted by Brad Sarkauskas | Jun 08, 2020 | 0 Comments

You have probably heard about the astronomical costs of nursing-home care if you become seriously ill or injured. You might also know that Medicare would cover only a minimal amount of those costs. Private insurance doesn't seem like a good bet either, if you've heard horror stories about skyro...

Study Provides New Insights on Parkinson’s Disease

Posted by Brad Sarkauskas | Jun 01, 2020 | 0 Comments

Parkinson's disease is a neurodegenerative disorder that causes a progression of symptoms including, body tremors, limb rigidity, Bradykinesia (slow movement), as well as balance and gait problems. The cause of Parkinson's disease (PD) remains largely unknown. One well-known indicator of PD is ...

Millennials Plan Ahead for Financial Freedom

Posted by Brad Sarkauskas | Apr 13, 2020 | 0 Comments

Millennials include fiscally conservative, savings oriented, and future planners seeking financial freedom as core attributes. A large part of millennials' formative years was influenced by the US sub-prime mortgage crisis beginning in 2007, shortly followed by an international banking crisis, ...

When an Inheritance is Not Always A Good Thing

Posted by Brad Sarkauskas | Mar 30, 2020 | 0 Comments

Say your spouse is living in a nursing home because of advanced Parkinson's. Your spouse is currently receiving Medicaid benefits to pay for the high cost of that care. If you were to pass before your spouse, you wouldn't want your spouse to inherit all your life savings, no matter how much you...

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