We have previously cited the rather alarming spike we are seeing in the prices of long-term care. To recap, there is a study that is done every year by the MetLife Mature Market Institute that places the cost of long-term care under the microscope. In 2010 the average cost for a yearlong stay in a … [Read More]
Removing Your Home’s Value From Your Estate
Due to provisions that are contained in the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 the estate tax exclusion is now $5 million. What this means is that your heirs will owe no estate tax at all if the value of your estate is $5 million or less. Any portion of … [Read More]
Reducing Estate Tax Liability
As a result of the tax relief measure that passed through the legislature at the end of last year we currently have an estate tax exclusion of $5 million and a maximum rate of 35%. What this means to you is that right now, the portion of your estate that exceeds the $5 million exclusion … [Read More]
Long-Term Care Assistance: Do You Qualify?
There are those who question why they need to engage the services of an elder law attorney, and the reality is that there are many different reasons. But perhaps the most overarching one is the fact that elder law specialists have a comprehensive understanding of all of the tools and options that are available to … [Read More]
Ethical Will Can Punctuate Estate Plan
There are some estate planning documents that everyone is aware of, and one of them is the last will. This document is of course used to state your wishes with regard to how you would like your assets distributed after your death. There is another type of will that is also recommended called a living … [Read More]
CRUT For Philanthropy, Tax Efficiency
When you are crafting your legacy it is possible that you may feel some philanthropic urges. If you are in a position to be able to provide something for worthy causes, you are of course giving something back, but at the same time you may be receiving some tax benefits. One estate planning tool that … [Read More]
Financial Abuse Is A Pressing Elder Law Issue
Estate planning is one of the branches of the larger field of elder law, and when you are making comprehensive plans for the future you have to recognize all of the eventualities of aging. This is often times easier said than done because some of the challenges that people face when they reach an advanced … [Read More]
Are You Prepared For Your Twilight Years?
It is perhaps human nature to avoid subjects that are not particularly pleasant to consider, but when it comes to making sure you’re prepared for the latter stages of your life you really have to face the facts head-on. Many would suggest that it is best to take a holistic approach and recognize that retirement … [Read More]
Health Care & Your Retirement Plan
A lot of people assume that you simply start to receive Medicare at the same time you become eligible for Social Security, but this is not accurate. Age of eligibility for full Social Security benefits varies depending on the year you were born in. For people who were born between 1943 and 1954 it is … [Read More]
Estate Planning: Probate Lawyer Is Key
There is generally no incremental learning curve involved in estate planning and everything is new to most individuals when they first start to engage in the process. Before they begin to look into it a lot of people don’t realize that a last will is not something that is just passed around among your loved … [Read More]
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