The “For the 99.5%” Act was introduced on March 25, 2021 by Senator Bernie Sanders. This proposed Act represents the beginning of the real discussion surrounding the long-awaited Biden-era tax increases. Among many things being proposed in the For the 99.5% Act are a reduction in the federal estate tax exemption to $3.5 million per …
Over the years, many people have asked me about long-term care asset protection in light of Medicaid spend-down requirements. How many? Hundreds, possibly thousands. And yet, how is possible it that so many people do little or no planning for long-term care and wait for a crisis to occur? Long-Term Care Asset Protection Laws …
Long-Term Care Asset Protection – What Do I Need to Know? Read More »
Don’t assume your estate will automatically go to your spouse when you die. If you don’t have an estate plan, your spouse may have to share your estate with other family members. Do married couples need an estate plan? Yes. Here’s why… Dying Without an Estate Plan If you die without an estate plan, the …
It can be hard to tell if you or a loved one has Parkinson’s disease (PD). With early detection, treatment and expert care, many people live longer, productive lives with Parkinson’s. The rate of progression varies from one person to another, but there are many common symptoms and scenarios. Learn to spot the early signs …
Can a nursing home take my stimulus check? This is a question many seniors and their loved ones have been asking since the first round of stimulus payments. In December 2020, Congress approved a second round of stimulus checks for individuals making less than $75,000 a year. These checks are being sent to everyone who …
Long-term care is the care you need if you can’t perform daily activities on your own for an extended period of time. There are a number of different ways that long-term care can be provided. Most long-term care involves assisting with basic personal needs rather than providing medical care. You are usually determined to need …
By: Nicole T. Livingston – Principal and Senior Estate Planning and Elder Law Attorney with Elville and Associates, P.C. January 8th — A question most often asked to an estate planning attorney is regarding gifting of assets. There is a significant amount of confusion regarding gifting. To begin, there is an annual gift tax …
You should consider your options before paying for a critical illness insurance plan. While a regular health insurance plan usually offers comprehensive coverage for all types of illnesses, many plans have high deductibles and copays that require policyholders to pay a lot of money out of pocket. Critical illness insurance allows you to buy insurance …
What Is Critical Illness Insurance and Is It Worth Buying? Read More »
One of the most important decisions a special needs trust’s donor (the person who supplies the funds for the trust) makes is the choice of a trustee. But how can the donor make sure that the trustee will properly manage the trust when the donor is no longer around to keep an eye on the …
A Trust Protector Can Look Out for a Beneficiary’s Interests Read More »
As we enter the giving season, there is an additional reason to be charitable. Congress enacted a special provision that allows more people to easily deduct up to $300 in donations to qualifying charities this year. Since the increase in the standard income tax deduction in 2018, only 11 percent of taxpayers itemize deductions, so …
Special Tax Deduction for 2020 Allows Donations of $300 to Charity Without Itemizing Read More »
