Veterans make sacrifices that other people do not, but they also qualify for some benefits that are only available to former servicemembers. One of them is the Veterans Pension, and in this post, we will share information about the new 2022 rates for the different classifications. Length of Service Requirements The Veterans Pension is not … [Read More]
What Is the 2022 Connecticut Estate Tax Exclusion?
The accumulation of wealth can give you a lot of freedom, and it is a satisfying feeling to accomplish your goals. Of course, taxation can be a source of concern if you are a high net worth individual. There are heavy taxes to pay during your lifetime, and it does not stop there. 2022 Connecticut … [Read More]
When Is a Trust Better Than a Will?
Far too many people assume that estate planning can be reduced to the creation of a simple will. Indeed, a will can facilitate asset transfers after you pass away, but in many cases, a trust of some kind will be a better choice. Estate Administration If you use a will to serve as an asset … [Read More]
Address Potential Nursing Home Costs in 2022
You probably put a lot of thought into your financial future with your retirement in mind. This is as it should be, but many people that are diligent overlook an expense that can have a devastating impact on your legacy. An Inconvenient Truth About Medicare It’s natural to assume that Medicare will take care of … [Read More]
Advocacy Groups to Congress: Abolish the Medicaid Estate Recovery Mandate
Most seniors will need living assistance at some point, and a significant percentage of elders will require nursing home care. If you are going to qualify for Medicare when you are 65, you may not be concerned about long-term care costs when you reach an advanced age. Medicare must cover nursing home care, right? It … [Read More]
Is Remarriage Raising Estate Plan Questions?
Divorce rates have been going down over the last few decades, but there are still plenty of marriages that do not withstand the test of time. Many of these folks get remarried, and Psychology Today has stated that the majority of second and third marriages do not succeed. This is the reality, and even though … [Read More]
Important 2022 Medicare Facts and Figures
When a new year approaches, the parameters of the government benefit programs for senior citizens are adjusted for the following year. We have recently shared information about the Social Security cost of living increase, and we will look at Medicare in this post. Part A Deductibles and Coinsurance Hospitalizations are covered through Medicare Part A. There … [Read More]
Federal Estate Tax Exclusion Increased in 2022
When you are planning your estate, you have to be mindful of its value relative to the federal estate tax exclusion. This is an amount that can be transferred tax-free, and the remainder would be subject to the tax and it is 40 percent top rate. Each year, there are inflation adjustments, and they are … [Read More]
Key Facts About Medicaid Planning for Married Couples
If you earn a good living and you have always received health insurance coverage through your employer or an exchange, you would have no reason to understand the Medicaid guidelines. You know that you will be covered until you become eligible for Medicare when you are 65. This makes sense on the surface, but many … [Read More]
Elder Financial Abuse Is All Too Common
As you get older, you will invariably have a new set of concerns, and this is simply part of the human condition. You should be aware of the challenges that are looming so you can take the appropriate preventative measures. Elder financial abuse is a major problem that a lot of people never think about. … [Read More]
( By appointment only )