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Neel G Shah

Neel Shah’s Legal Guides

16 total


  • What Goes in the Bucket? (i.e. What Can I Use to Fund My Trust?)

    Aside from an individuals Last Will and Testament, a trust is probably the most popular estate planning tool. Trusts, which come in various forms, are often used as a vehicle for tax avoidance. Assets in certain Irrevocable Trusts often avoid taxation because, by putting them in...

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  • Minding Mom & Pop’s Shop: Five Steps to the Succession of Your Family Business

    Succession planning for a family business is often no easy task. Recently, an article in Forbes outlined the five necessary steps for a viable succession plan. The five steps include: Planning for the general transition of the business: The article notes that only one third of f...

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  • Income Tax Planning While Planning Your Estate

    Now that the American Taxpayer Relief Act of 2012 has bumped the federal estate tax exemption up to $5.25 million, a recent article explains that many individuals are now turning their energy to estate planning maneuvers that will reduce their income tax bills. Most income tax p...

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  • Spending Down’ for Medicaid Coverage: A Cautionary Tale

    Medicaid is a need-based public benefit program that assists citizens in paying for medical care. Therefore, a person can only receive benefits if he or she meets certain income criteria. In order to meet the criteria, many people attempt to spend down their assets. However, if n...

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  • Back to the Basics: Estate Planning for a “Typical” Family

    Contrary to popular belief, estate planning is still important for the vast majority of Americans who are not wealthy. After all, after a person has worked his or her entire life to amass all of his or her assets, he or she should seize the opportunity to direct what happens to t...

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  • Calling an Audible: Avoiding Taxes Caused by a Bypass Trust

    Since estate-planning maneuvers can cause unintended consequences, its important to plan with flexibility. A recent article discusses how one man dealt with the unintended consequences of a bypass trust he inherited from his wife before it was too late. Bypass trusts are a very ...

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  • Dealing with Early-Stage Alzheimer’s

    Currently, the sixth leading cause of death in the United States is Alzheimers disease. Between 2000 and 2010, the number of deaths caused by Alzheimers disease increased by 68 percent. By 2050, the number of Americans with Alzheimers disease is set to increase to 13.8 million. A...

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  • What is an Irrevocable Funeral Trust?

    One tool for those looking to spend down their assets in order to apply for Medicaid benefits is the Irrevocable Funeral Trust (IFT). Through an IFT, a person can set aside funds to pay for his or her funeral and burial expenses. Importantly, funds in an IFT are not considered t...

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  • Thanks Gramps! Planning Gifts to Grandchildren

    Often, grandparents who have extra money wish to assist their grandchildren financially. A recent article discusses three ways through which grandparents can give to their grandchildren. Write a Check Many grandparents simply write checks to their grandchildren without thinking ...

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  • How a beneficiary can enforce a trust

    A brief explanation of how beneficiaries can deal with a trustee who isn't following the terms of the trust.

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