by Christine | Nov 17, 2011 | Elder Law, Medi-Cal Long Term Care |
A Wisconsin appeals court rules that a Medicaid applicant who transferred funds to her children, who then put them in an irrevocable trust for her benefit, is ineligible for Medicaid because the trust is an available asset under state law, even though the transfer...
by Christine | Nov 16, 2011 | Estate Planning, Tax Planning |
Rumors are circulating that the Super Committee may be planning to cut Gift Tax Exemptions from $5,000,000 to $1,000,000. The really scary part of the rumors is that the change may have an effective date of November 23, 2011. With the Super Committee in a deadlock...
by Christine | Nov 15, 2011 | Estate Planning, Retirement Planning |
[Qualified Charitable Deductions] can be used to satisfy the RMD requirement for the IRA owner. This means that the IRA owner who doesn’t need his or her RMD for income can direct the distribution to the charity of his or her choice. If you would rather be a...
by Christine | Nov 14, 2011 | Elder Law |
The biggest rise [in poverty] occurred among people aged 65 and older who are being driven into poverty by out-of-pocket medical expenses, including premiums and co-pays from the federal government's Medicare program for the elderly. It’s been fairly clear that...
by Christine | Nov 13, 2011 | Business Succession Planning, Estate Planning, Tax Planning |
As the end of the year approaches, small business owners need to meet with accountants or tax preparers to review tax-planning strategies. “Every accountant is going to be sitting with their entrepreneur clients in the next few weeks to see what they can do, both on...
by Christine | Nov 11, 2011 | Elder Law |
U.S. long-term health-care costs rose as much as 5.6 percent this year, led by assisted-living expenses, and are climbing at a steeper rate during a weak economy, MetLife Inc. said. Are you planning for your old age or perhaps the old age of a loved one? If yes, then...
by Christine | Nov 10, 2011 | Elder Law, Estate Planning |
We ask older Americans to make complicated financial decisions about Social Security, Medicare, retirement distributions and more—just when they are losing their fastball. Regardless of gender or education level, Americans become considerably less literate about all...
by Christine | Nov 9, 2011 | Estate Planning |
Unlike financial assets, which can generally be divided easily amongst heirs, tangible personal property is unique. And the complexity of distributing a lifetime’s worth of possessions is something that many people overlook. Sometimes, planning for the money and...
by Christine | Nov 8, 2011 | Dementia, Elder Law |
What my family didn’t know at the time, because the doctors did not tell us, was that this frightening transformation was a classic case of hospital delirium — a brain dysfunction characterized by sudden confusion and inattention. It’s one of the most common,...
by Christine | Nov 7, 2011 | Estate Planning, Guardianships |
As it happens, parents would rather talk about pretty much any other part of their personal life than answer this question. But when they finally do start talking, almost everyone has the same misconceptions about the process. In fact, most folks are letting four...
