by Christine | Sep 2, 2011 | Elder Law, Estate Planning, Tax Planning |
Market volatility may be tough on the nerves, but it could be a boon for wealthy families looking to shelter assets from taxes while helping their children. Watching the market nowadays is hardly a soothing pastime. It seems that once again we’re watching our futures...
by Christine | Sep 2, 2011 | Estate Planning, Special Needs Trusts |
Even the best laid plans can face unexpected bumps. So what happens when a trustee or beneficiary needs to alter the language of an irrevocable trust and can’t turn to the settlor for help because he or she may now be deceased? The answer is a legal proceeding known...
by Christine | Sep 1, 2011 | Estate Planning, Retirement Planning, Tax Planning |
Inheriting something is not the same as knowing what to do with it, and that may be especially true with retirement accounts. As a bit of guidance I found a recent article from Forbes offering seven steps to take if you have recently received an inheritance, or if you...
by Christine | Aug 31, 2011 | Elder Law |
In the fourth year of a depressed real estate market, experts say thousands of seniors remain unable to move into senior housing because they can’t sell their homes quickly enough or for the price they need. After four years or so the housing market is still idling at...
by Christine | Aug 26, 2011 | Business Succession Planning |
The point of long-term disability insurance is to replace your income if you’re disabled and unable to work for an extended period of time — maybe a few years or maybe until you qualify for retirement benefits at age 65. If you’re self-employed, then likely you know...
by Christine | Aug 25, 2011 | Estate Planning, Tax Planning |
Wealthy individuals in the U.S. will find it easier to cut their estate-tax bill as a result of a provision for using their deceased spouses’ exemption credit. Much ado has been made about the new power in estate planning known as “portability,” and for good reason....
by Christine | Aug 24, 2011 | Elder Law, Long Term Care Insurance |
With long-term care insurance policies, the costs of assisted living facilities, in-home care and private nursing homes are covered. And, in many cases, these policies offer inflation protection, too. But since not many eligible consumers are signing up for policies,...
by Christine | Aug 23, 2011 | Conservatorships, Elder Law |
Here’s what’s important: it doesn’t matter if you have a diagnosis for your aging parent or not. It matters how your aging parent functions. It matters how you deal with what you see. Dementia and Alzheimer’s are becoming increasingly common, but even if we are...
by Christine | Aug 22, 2011 | Elder Law, Medi-Cal Long Term Care |
Nursing home residents may soon face higher costs and reduced services, as planned Medicare spending cuts take effect this fall. The last few months have been a wild ride on multiple levels, to include concerns over Medicare and the “debt crisis.” While many more...
by Christine | Aug 19, 2011 | Medi-Cal Long Term Care, Tax Planning |
The bottom line, however, is that the IRS is watching, and you should be very careful and get good tax and legal advice before you make that gift. As many have written, 2011 and 2012 just might be great years for gifting, but that doesn’t mean there aren’t...
