The Difference Between Home Health and Home Care
The Difference Between Home Health and Home Care

The Difference Between Home Health and Home Care

Many people use the terms “home care” and “home health” interchangeably, which can cause confusion when you try to find funding for these services. This article will try to help you understand the difference between home care and home health.

What is Home Care?

Home care goes by a variety of names, including “aging in place,” “caregiving,” “in-home assistance,” “personal care” and “companion care.” The services do not include medical treatments. The people who provide these services are home care aides or caregivers. Because the services are non-medical, the worker category is “non-clinical” or “unskilled.”

Home care can include such things as preparing meals, assisting the older adult when eating, reminding him to take his medication and helping him to bathe, groom and dress. Depending on the needs of the person receiving the care, the tasks can include house cleaning, transportation and help with paying bills. The services usually get tailored to the individual client.

The total package of home care can involve multiple parties. For example, the older adult might have a home care aide who comes to the house for two or three hours every morning. The aide might help the client get ready for the day, with taking a bath, getting dressed and performing the morning grooming tasks. The aide might get the client’s breakfast ready, remind him to take his pills and make a sandwich for his lunch. Another person might come in once a week to clean the house, do laundry and batch cook some meals.

The client might use a grocery or meal delivery service. He could have a money manager make sure that his bills get paid.

Medicaid can pay for some of these services, if the senior qualifies for Medicaid. Some long-term care insurance policies can help with some of the cost. The remainder of the expenses is private pay.

Home Health Care

Skilled medical professionals provide home health care. These services usually take place after the doctor discharges the patient from the hospital, but she still needs some medical treatment, like physical therapy or care for a surgical incision. Depending on the treatment plan the doctor prescribes, the client might also receive health status monitoring, medical tests and the administration of drugs, including injections.

The medical professionals who provide home health care services include physical therapists, registered nurses, occupational therapists and other skilled healthcare workers. Sometimes the services last for a matter of weeks, until the doctor releases the patient. However, for some individuals with chronic conditions, the patient might need ongoing in-home medical treatments. The services might include teaching the patient skills to regain and maintain better health and function independently.

When a doctor prescribes home health care, Medicare will sometimes pay the expense of the services. If the client meets the low-income and other qualifications, Medicaid can bear the cost.

Overlap of Home Care and Home Health

When an older adult needs medical treatment in the home, he often also needs help with personal services. If a family member is unavailable to assist him, he might need to obtain the care from an agency. The fact many people need both types of services, home care and home health, contributes to the confusion.

References:

A Place for Mom. (accessed August 7, 2019) https://www.aplaceformom.com/planning-and-advice/articles/home-health-vs-home-care

 

Second Time Down the Aisle? Make Sure Estate Plan Is Ready
Second Time Down the Aisle? Make Sure Estate Plan Is Ready

Second Time Down the Aisle? Make Sure Estate Plan Is Ready

Second Time Down the Aisle? Make Sure Estate Plan Is Ready. It’s always a good idea to review your estate plan, especially when a major life event, like a second marriage, is taking place. The use of a pre-nuptial agreements gives prospective spouses the opportunity to discuss one another’s rights of inheritance, and clarify a great many issues, says nwi.com in the article “Estate Planning: Planning for second marriages.”

There’s a second opportunity to sign an agreement detailing inheritance rights after the wedding takes place, called a “post-nuptial agreement.” The problem is that once the wedding has occurred and you are both legally married, you might get stuck with some surprises and, well, you’re married. For most people, it’s better to set things out before the wedding, rather than after.

There also may have been dissolution decrees in one or both of the couple’s prior divorces that have requirements which must be satisfied. A spouse may be required to maintain life insurance with the ex-spouse as a beneficiary. This can have an impact on the couple’s estate plan. It is recommended that you have everything discussed up front in the pre-nup.

Second Time Down the Aisle? Make Sure Estate Plan Is Ready. The rest of the steps are those that should be followed for any estate review.

Make sure that the last will and testament reflects your new spouse. If there are any mentions of the prior spouse, you probably want to remove them.

Verify how all of the assets are owned. Will they continue to be owned by just one spouse, or converted to jointly owned? Does your estate plan have a trust, and if so, are assets owned by the trust? Does there need to be a change made to your trustees?

Many people don’t remember how their bank accounts are titled. Fewer still can tell you who their beneficiaries are on their retirement accounts, life insurance policies and bank accounts. Remember: the beneficiary designations are going to determine who receives these assets, regardless of any language in your last will and testament. Once you die, there is no way to contest that distribution. Review your accounts and make sure that the beneficiaries are up to date.

Part of your pre-nup and estate plan review will be to discuss inheritance rights for any children in the blended family. Do you want to leave assets only for your children, or do you want to leave assets for all the children? It’s not an easy conversation to have, especially at the start of the blending process.

Second Time Down the Aisle? Make Sure Estate Plan Is Ready. Remember also that blended family dynamics can change over the years. When you review your estate plan next—in three to four years—you’ll have the opportunity to make changes that hopefully will reflect deepening bonds between all of the family members. Your estate planning attorney will help create and revise estate plans, as your life circumstances evolve.

Reference: nwi.com (May 5, 2019) “Estate Planning: Planning for second marriages”

 

Is it Worth it to Contest a Will?
Is it Worth it to Contest a Will?

Is it Worth it to Contest a Will?

Is it Worth it to Contest a Will? If it helps, and it might not, this happens more frequently than you’d think. The response is sometimes shock, other times, it’s anger. However, according to this recent article from Forbes, “5 Things You Should Know About Contesting A Will,” before you start making revenge plans or hiring the most tenacious attorney in town, take a deep breath. You need to consider some cold hard facts:

Is it Worth it to Contest a Will?

  1. Litigation is expensive. Many people will ask if an attorney will take the case on a contingency fee basis—typically a third of what you receive, and he or she only gets paid if you do. Most probate attorney won’t take a will contest on a contingency fee, because there’s a risk they won’t get paid. If they do, be certain that you have an experienced estate planning attorney with experience in estate battles.
  2. Have lots of Rolaids on hand. You’re gonna need them. It’s a rough journey, one that can be full of lies, misrepresentations and accusations. There may also be a counter lawsuit against you. You’ll probably be deposed in a deposition, where the opposing lawyer will ask you questions about the case. You may be portrayed as greedy, and you might have to testify in court.
  3. Snap decisions are required. Once you hire your attorney, he or she will work with you to develop a strategy for the case. Your attorney may recommend that you file suit immediately and be the first one into the courthouse. On the other hand, your counsel may think it best to send a letter to the attorney representing the person you’re suing with a request for information. Depending the response, you may decide to file suit. In most cases, you’ll have a limited time to contest the will. If you don’t do so within that time period, you can’t bring a lawsuit. Talk to an experienced attorney shortly after the death.
  4. You’ll probably reach a settlement. Once the litigation has begun, and the attorneys have had time to exchange information and do some fact finding (in what is known as the discovery process), your attorney will talk to you about the strengths and weaknesses of your case. It may be appropriate at that juncture for one side to present the other with a settlement offer. This would end the litigation without the time and expense of trial. This may be a wise option, if you’re tired of fighting and willing to consider a settlement instead of going to trial. Your attorney may also point out weaknesses in your case and advise you to be happy with getting a settlement. That way you can move on with your life. You should approach the settlement like a business decision, and try to keep emotion out of it.
  5. Expect emotional pain. While you may get some satisfaction if you win, you will may lose any connection with the people you bring to court. If you lose, well, that’s a lose-lose proposition. No matter how big the win, any underlying emotional issues will still be with you. Be prepared to be very businesslike about any estate battle.

Reference: Forbes (May 21, 2018) “5 Things You Should Know About Contesting A Will”  

Is it Worth it to Contest a Will? To finish like a lawyer-it depends.

 

Why an Attorney Should Help with a Medicaid Application
 Why an Attorney Should Help with a Medicaid Application.

Why an Attorney Should Help with a Medicaid Application

Why an Attorney Should Help with a Medicaid Application.

Elder law attorneys can be very helpful when planning for Medicaid coverage, and they can save money in the long run, ensuring that you (or a loved one) get the best care. Instead of waiting to see how wrong the process can get, says The Middletown Press, it’s best to “Use a lawyer for Medicaid planning” right from the start. Here’s why.

Conflict of interests. When a nursing home refers a family to people for preparing the Medicaid application, very often the person has dual loyalties: to the nursing home who refers them the work, and to the family who will pay them a fee for help with applying for benefits. Whose interests comes first?

Everyone wants the Medicaid application to be successful, but let’s be realistic. It’s in the nursing home’s best interest that the resident pays privately for as long as possible, before going on Medicaid. It’s in the resident or family member’s best interest to protect the family’s assets for care for the resident’s spouse or family.

Why an Attorney Should Help with a Medicaid Application. An attorney has a duty of loyalty only to her client. She also has an ethical and professional responsibility to put her client’s needs ahead of her own.

Saving money is possible. Nursing homes in some areas cost as much as $15,000 a month. While every market and every law practice is different, it would be unusual for legal fees to cost more than a month in the facility. With an experienced attorney’s help, you might save more than her fee in long-term care and probate cost. Most attorneys will consult with new clients at little or no cost to determine what they need and what they want to achieve before paying a larger fee.

The benefit of experience. It’s all well and good to read through pages of online information, but nothing beats the years of experience that an attorney who practices in this area can bring to the table. Any professional in any field develops knowledge of the ins and outs of an area and applying for Medicaid is no different. Without experience, it’s hard to know how it all works.

Peace of mind from a reliable, reputable source. Today we hear a lot about “FOMO,” or fear of missing out. Consulting with an experienced attorney about a Medicaid application will help you avoid years of wondering, if there was more you could have done to help yourself or your loved one.

There are multiple opportunities for nursing home residents to preserve assets for themselves and spouses, children and grandchildren, particularly when a family member has special needs. However, here’s a key fact: if you wait for the last minute, there will be far less options than if you begin planning long before there’s a need to apply for Medicaid.

Reference: The Middletown Press (July 29, 2019) “Use a lawyer for Medicaid planning”

Why an Attorney Should Help with a Medicaid Application.

Your Estate Plan Decides or the State Decides
Your Estate Plan Decides or the State Decides

Your Estate Plan Decides or the State Decides

Your Estate Plan Decides or the State Decides.

It’s something that everyone needs, but often gets overlooked. Estate planning makes some people downright uncomfortable. There’s no law that says you must have an estate plan—just laws that will impact how your property is distributed and who will raise your children, if you don’t have a will. Planning is important, says WMUR 9 in a recent article “Money Matters: Estate planning,” if you want to be the one making those decisions.

An estate plan can be simple, if you only own a few assets, or complicated if you have significant assets, more than one home and multiple investments. Some strategies are easier to implement, like a last will and testament. Others can be simple or complex, like trusts. Whatever your needs, an estate planning attorney will be able to give you the guidance that your unique situation requires. Your estate planning attorney may work with your financial advisor and accountant to be sure that your financial and legal plans work together to benefit you and your family.

There are circumstances that require special estate planning and Your Estate Plan Decides or the State Decides

  • If your estate is valued at more than the federal gift and/or estate tax exclusion, which is $11.4 million per person in 2019
  • You have minor children
  • There are family members with special needs who rely on your support
  • You own a business
  • You own property in more than one state
  • You want to leave a charitable legacy
  • Your property includes artwork or other valuable collectables
  • You have opinions about end-of-life healthcare
  • You want privacy for your family

The first step for any estate plan is a thorough review of the family finances, dynamics and assets. Who are your family members? How do you want to help them? What do they need? What is your tax picture like? How old are you, and how good is your health? These are just a few of the things an estate planning attorney will discuss with you. Once you are clear on your situation, you’ll discuss overall goals and objectives. The attorney will be able to outline your options, whether you are concerned with passing wealth to the next generation, avoiding family disputes, preparing for a disability or transferring ownership of a business.

A last will and testament will provide clear, legal direction as to how your assets should be distributed and who will care for any minor children.

A trust is used to address more complex planning concerns and to provide instructions if incapacitated. A trust is a legal entity that holds assets to be used for the benefit of one or more individuals. It is overseen by a trustee or trustees, who can be individuals you name or professionals.

If you create trusts, it is important that assets be retitled so the trust owns the assets and not you personally. If the assets are not retitled, the trust will not achieve your goals.

Some property typically has its own beneficiary designations, like IRAs, retirement accounts and life insurance. These assets pass directly to heirs according to the designation, but only if you make the designations on the appropriate forms.

Once you’re done with your estate plan, make a note on your calendar. Estate plans and beneficiary designations need to be reviewed every three or four years. Lives change, laws change and your estate plan needs to keep pace.

Reference: WMUR 9 (Aug. 1, 2019) “Money Matters: Estate planning”

 

What’s the Difference Between a Life Estate and an Irrevocable Trust?
What's the Difference Between a Life Estate and an Irrevocable Trust?

What’s the Difference Between a Life Estate and an Irrevocable Trust?

What’s the Difference Between a Life Estate and an Irrevocable Trust? Investopedia’s recent article asks “Life Estate vs. Irrevocable Trust: What’s the Difference?” The article explains that a life estate and an irrevocable trust are two different ways to make certain that assets are transferred to the right party. Each of these has advantages and disadvantages.

A life estate that’s used to gift property will divide the ownership between the giver and receiver. Some parents create a life estate to reduce their assets to qualify for Medicaid. While the parent still has some interest in the property, Medicaid doesn’t count it as an asset. A life estate lasts for the lifetime of its creator and it prohibits the selling of the asset, without the permission of its beneficiaries. Therefore, a parent can’t sell a home without the permission of his children, if they are beneficiaries of the life estate.

If you’re attempting to be eligible for Medicaid and are concerned that your home will disqualify you, ask your estate planning or Medicaid planning attorney about an irrevocable trust. With this trust, if a husband and wife both own a home, the husband can transfer his portion to his wife, and his Medicaid eligibility won’t include the home.

There must be a five-year gap between the creation of the trust and the application for Medicaid. If there isn’t, those funds will be counted as part of existing assets when determining Medicaid eligibility. Therefore, you can’t start an irrevocable trust right before you apply for Medicaid, if you want to receive those benefits.

One negative of an irrevocable trust is that the founder of the trust relinquishes any rights he has to the home. However, the beneficiary of the trust can’t sell the home, unless he or she is also named as a trustee. Once an irrevocable trust has been created, the trustee can’t take back control of the trust.

Remember that a life estate and an irrevocable trust aren’t always mutually exclusive. It’s possible to place an asset (like a home) in an irrevocable trust and keep a life estate. In that case, you’re irrevocably transferring ownership of your house to the trust. However, you still keep control. In this case, you are permitted to sell the home, remodel, or rent out a room, but the house itself—or the sales proceeds from it—would remain in the irrevocable trust.

In this situation, a parent would also not risk giving their children part of the tax liability that is associated with owning a home. The parent would keep more personal control over the house and wouldn’t need their child’s permission to sell the home. This may be the best option because it would still allow the parents to apply for Medicaid and not have the property count in their assets, but he or she would remain the sole decision-maker for the house.

What’s the Difference Between a Life Estate and an Irrevocable Trust? Both have their pros and cons, but a combination of the two can often be the best answer. Make no moves either way, without the advice of an experienced elder law attorney.

Reference: Investopedia (June 16, 2019) “Life Estate vs. Irrevocable Trust: What’s the Difference?”

 

Use This Checklist When Visiting Assisted Living Facilities
Use This Checklist When Visiting Assisted Living Facilities

Use This Checklist When Visiting Assisted Living Facilities

Use This Checklist When Visiting Assisted Living Facilities. When you are trying to find an assisted living community for yourself or a loved one, you need to do your homework to find at least three candidates that meet all the needs of the future resident. After you have narrowed your search down to those facilities, you should visit each one with the person who will be living there. Know what you want to look for before you visit the first center, so you will get all the information you need from every facility.

It is easy to get overwhelmed in the process of finding the right assisted living community. To help you in this quest, use this checklist when visiting assisted living facilities.

  1. First impressions count. Pay close attention to your initial thoughts and feelings about the center as you approach and enter. Your instincts often pick up on “micro-symptoms” that can indicate a problem, even before you notice the issue itself.
  2. Try to see down the road. Visualize yourself or your loved one actually living at the assisted living community. Ask yourself if you would be happy there. Pay attention to whether you feel comfortable or anxious. Evaluate whether the staff and other residents are friendly and inviting.
  3. Use Smell-a-vision. When you walk through the building, pay attention to the smells. You should not be able to detect any unpleasant odors. Strong “cover-up” scents are also a warning that the place likely has cleanliness issues.
  4. Look for dirt, dust, and grime in the obvious locations and places, like the baseboards and windows. You might be surprised at how many expensive assisted living centers cut corners on cleaning costs.
  5. The staff in action. Watch the staff in action, when they are interacting with the residents. Pay attention to their facial expressions and tone of voice to see if they love their jobs or are merely going through the motions. You should also observe the body language of the residents when they receive care from the staff. Look for any signs of fear, hostility, or resentment. Keep looking until you find a place where both the residents and the staff are happy, warm and friendly.
  6. The proof is in the pudding. Good food is one of the highlights for many people who reside in assisted living. Visit during mealtime and arrange to eat a meal there. Find out if the meals are both nutritious and tasty. Get a copy of the monthly menus to check for variety. Find out the center’s policy, when a resident cannot come to the dining room.
  7. Explore the both outdoor areas and the indoor facilities. Make sure that your loved one would be safe when enjoying some fresh air outside. Look to see if there are adequate sitting areas and tables.
  8. The current residents. You can find out valuable information from the people who already live at the center. Without making them feel uncomfortable, notice whether the residents are well-groomed and wearing clean clothes. Sit and visit with some residents. Let them know you are considering this community for yourself or a loved one. Ask for their advice. Find out if they have to wait a long time for personal care or other services. If so, the facility is likely under-staffed.

Use This Checklist When Visiting Assisted Living Facilities.

A Place for Mom. “Tips for Touring Assisted Living Communities.” (accessed August 7, 2019) https://www.aplaceformom.com/planning-and-advice/articles/tips-for-touring-assisted-living

 

What Does a Probate Attorney Really Do?
What Does a Probate Attorney Really Do?

What Does a Probate Attorney Really Do?

What Does a Probate Attorney Really Do? If you’ve recently experienced the death of a loved one, you may have spent a lot of time and money dealing with their estate and trying to get their assets out of probate.

KAKE.com’s recent article, “Do I Need to Hire a Probate Lawyer?: The Top Signs You Should Lawyer Up” says that trying to do this on your own can often be time-consuming and expensive. That’s why it’s smart to have a probate lawyer working with you.

What Does a Probate Attorney Really Do? A probate or estate planning lawyer is one who specializes in issues related to a deceased person’s estate. They have a broad range of responsibilities, which includes the following:

  • Guiding people through the probate process;
  • Advising the beneficiaries of an estate;
  • Representing beneficiaries, if they become involved in lawsuits related to the estate; and
  • Helping with challenges to the validity of the deceased’s will.

If you’re unsure about hiring a lawyer, consider whether you’re dealing with any of these issues in your case:

A Will Contest. This is when another beneficiary challenges the will. If someone contests the will, it will drag out the process and could put you at risk of losing what your loved one wanted for you to have.

Divided Assets. When split assets are part of an estate, things get complicated, especially when you have intangible assets. To avoid trouble, hire a lawyer who can help navigate the division of these assets and make certain that everything is handled in a fair manner.

An Estate Doesn’t Qualify for the Simple Probate Process. Probate can be extremely complicated. Depending on the size of the estate, it may qualify for simpler procedures that are completed relatively quickly. If this isn’t the case for the estate at issue, you should get a probate attorney to help you.

There’s Considerable Debt. If your loved one died with many debts, the estate will need to be used to pay those off. This can be tricky to manage on your own. An experienced attorney will help you make sure everything gets paid off and can negotiate debts to ensure you and the other beneficiaries receive as much from the estate as possible.

There’s Estate Tax Due. While most estates don’t have to pay any federal taxes, some states have their own estate taxes that apply to estates worth $1 million or more. It’s not an easy process, so it’s a good idea to work with an experienced estate planning attorney.

There’s a Business in the Estate. You need to ask an attorney to you sort this out, because this will include the process of appraising, managing and selling a business of the deceased owner.

If any of these situations apply to you, hire an attorney with the necessary qualifications to deal with estates and the probate process.

Reference: KAKE.com (August 9, 2019) “Do I Need to Hire a Probate Lawyer?: The Top Signs You Should Lawyer Up”

 

How Will Baby Boomers Handle Long-Term Caregiving?
How Will Baby Boomers Handle Long-Term Caregiving?

How Will Baby Boomers Handle Long-Term Caregiving?

How Will Baby Boomers Handle Long-Term Caregiving?

Think Advisor’s article, “Long-Term Caregiving Realities Hit Home for Boomers” says that study participants responded that they’d be willing to do these things to provide care for a loved one:

  • Cut spending: 66%
  • Travel less frequently: 41%
  • Move to a new home: 27%
  • Work less: 27%
  • Stop working: 19%

The study also found that boomers are becoming more aware of the likelihood they’ll require retirement care, and are willing to discuss the issue. This group believed that an adult would start to need physical care or assistance at age 70 or older.

About 45% of study participants thought they’d need long-term care at some point. That number is an increase from 36% in 2013. A total of 66% of them reported that they’d had detailed conversations about how they wanted to receive long-term care. Slightly more than half said they’d had detailed conversations about how to pay for care.

How Will Baby Boomers Handle Long-Term Caregiving? About 30% of boomers in the study who were caregivers said they still had to use some retirement savings to pay for health care expenses, compared with 19% of those without caregiving responsibilities.

The U.S. Census Bureau says that older Americans are projected to outnumber children for the first time in U.S. history by 2035. This raises the question of who’ll care for the aging population.

It was no surprise that the study found that women were likelier than men to have caregiving experience. 62% of current or former caregivers among study participants were women and 38% were men. A total of 68% of those with caregiving experience said they knew about long-term care insurance, compared with 59% without such experience.

Experienced caregivers were also more likely than inexperienced boomers to have made preparations for their death. This includes communicating funeral preferences (49% vs. 41%), identifying where they wanted to be buried or cremated (51% vs. 37%) and maintaining an up-to-date estate plan (45% vs. 38%).

Reference: Think Advisor (August 8, 2019) “Long-Term Caregiving Realities Hit Home for Boomers” How Will Baby Boomers Handle “Long-Term Caregiving?

 

How is Donald Trump Doing with His Estate Taxes?
How is Donald Trump Doing with His Estate Taxes?

How is Donald Trump Doing with His Estate Taxes?

How is Donald Trump Doing with His Estate Taxes?

Donald J. Trump has called for the rich to pay more in taxes and proposed plans that let them to pay less. However, the one thing that’s remained consistent is his hatred of the estate tax—a “lousy tax” and a “horrible weapon that has destroyed many families.” This intense animosity makes sense, given the state of his finances.

Forbes’s recent article, “Donald Trump’s Financial Carelessness Could Cost His Kids $1.3 Billion In Taxes,” estimates that Trump has paid each of his three eldest children—Donald Jr., Ivanka, and Eric Trump—about $35 million in salary, commissions and bonuses for their work as execs at the Trump Organization. He’s also given them modest stakes in a handful of relatively insignificant ventures. The rest of the first family—daughter Tiffany, son Barron, and wife Melania—don’t looked to have received very much at all. As a result, Trump is firmly in control of a $3.1 billion tax time bomb. How is Donald Trump Doing with His Estate Taxes? Trump appears to have one of the worst tax strategies in the country.

However, he’s also in a position to relieve his family of much of the burden, by just repealing the federal estate tax. He’s already tried and failed to do this once. Now, two years after his tax cuts tweaked the estate tax rules, it’s not enough to affect the super-wealthy. As a result, his allies in Congress are trying to kill the tax again. If they do, it would likely save the Trumps more than $1 billion—enough to make it the most lucrative deal of Donald Trump’s life.

Trump owns 40 assets through a maze of hundreds of holding companies—all of which are owned, in the end, by the Donald J. Trump Revocable Trust. Trusts are a common tool for transferring assets to heirs, his just holds the investments “for the benefit of Donald J. Trump.” Even though they’ve worked for years as execs at the Trump Organization, Trump’s three adult children own a meaningful stake in just one significant project, the Trump International Hotel in Washington, D.C. They each own a 7.5% share, worth $5 million apiece. However, that’s cumulatively just 0.5% of the family’s wealth.

This confuses a lot of experts.

Trump could be planning on giving his fortune to charity—though this seems extremely unlikely. One explanation might come from the step-up in basis. When someone dies owning an asset they acquired inexpensively, the basis used for capital gains tax calculations increases to the market value at the time of death. This saves the heirs a lot of money, if they ever decide to sell. The capital gains taxes Trump would save through step-up might offset much of the estate tax hit. He could also pass his assets to his wife tax free, giving the family some extra time to plan for succession.

How is Donald Trump Doing with His Estate Taxes? Well, it does not appear that he has a comprehensive plan to address the maze of companies and the multiple millions involved.

This still doesn’t explain why Trump hasn’t been handing out more equity in new projects to his heirs—especially since one of his major businesses—the licensing of his name to other owner’s buildings—is suited for such moves. Because he invests very little money in the projects, he could transfer those deals without paying much gift tax. The cash flow and any future appreciation in value would pass directly to his heirs, so there’d be no estate tax. It’s sound like a no-brainer, yet Trump hasn’t done it.

By keeping all the equity, he remains in control of his empire. This is important if he plans on retaking control after he’s done with politics.

Reference: Forbes (August 9, 2019) “Donald Trump’s Financial Carelessness Could Cost His Kids $1.3 Billion In Taxes”