In this Elder Law Minute, Wes Coulson discusses the difference between revocable and irrevocable trusts. Transcript: I want to talk to you today about the differences between revocable and irrevocable trusts. Let’s start with a basic. If a trust is revocable, that means that the person who established that trust can change it, or get […]

In this Elder Law Minute, Wes Coulson discusses the differences between warranty deeds and quitclaim deeds. Transcript: I’m going to talk about a subject today that’s really sort of real estate law, but since people who have estates and people who do long-term care planning tend very often to own real estate, most particularly the […]

In this Elder Law Minute, Wes Coulson discusses the most common reason for Illinois Medicaid application denial. Transcript: What do you think is the single most common reason for the denial of a Medicaid application in Illinois? I’ll be whatever you’re thinking, you’re probably wrong, because what it actually is, is failure to provide necessary […]

In this Elder Law Minute, Wes Coulson discusses a common misconception regarding gift tax Transcript: I want in this video to clear up a very common misconception about gift tax. I can’t count the number of times that I’ve had people say, “well, I can’t give away more than $10,000 a year,” which by the […]

In this Elder Law Minute, Wes Coulson discusses the importance of understanding Medicaid and returned gifts. Transcript: As you may already know, especially if you’ve watched any of our videos, Medicaid imposes what’s called a transfer penalty for any gifts or other transfers for less than fair market value of property that have occurred within […]