Being able to give a loved one a significant amount of money without having to pay gift tax is a major benefit offered by the federal tax code. This may seem like an ideal way to bequeath funds to loved ones without having to include the amounts in your estate plan. However, for individuals who… Read More »
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Why you need an Estate Planning Attorney
Estate planning is an area which at first glance may appear simple. However, the preparations you make for your estate can have long-lasting and significant legal implications for you and your loved ones. If your estate plan is not done correctly, your family will be confronted with complicated issues during a difficult time. Having the… Read More »
Do you believe in love at first sight?
“It was love at first sight,” Sam said to me. Mary was a waitress at the local diner. Sam was a young, athletic kid who had just enlisted in the Army. He still remembers Mary’s pink dress, her hazel eyes, the smell of bold coffee and the sound of bacon sizzling on the grill. … Read More »
Medicare Private Fee-for-Service Plans
Getting older can involve developing more complicated health conditions resulting in frequent trips to see different medical professionals. While some care may be routine, often it will also include seeing specialists and undergoing different tests. For Medicare recipients, this can mean not having many options regarding providers and being required to cover co-pays and other… Read More »
What is a Medigap Policy and do I Need One?
When you think of Medicare, you may believe that the program will cover all of your medical expenses. However, this is often not the case. While Medicare covers certain medical costs, it typically does not pay for copayments, deductibles, and coinsurance. These “gaps” in total coverage can leave an individual with a serious medical condition… Read More »
The Benefits of a Protection Trust
For some business owners, debt is a necessary evil. When everything is going well, the business owner will regularly pay the debt. However, changes in business, the economy and life circumstances can come up which may prevent the owner from paying their creditors and place them at risk of losing their property. For other business… Read More »
What is a Grantor Retained Annuity Trust, and Should you Have One?
Having an income-producing asset can be a significant source of revenue but, depending on how it is owned, can also be subject to estate taxation. One way to minimize tax and continue to receive benefits from this kind of resource is to place it in a Grantor Retained Annuity Trust (GRAT). Here are some facts… Read More »
When is the Best Time for Social Security?
Approaching retirement is a time when you will be assessing your ability to be in the right financial position to live comfortably. A good place to begin is by considering your retirement income sources and making a realistic calculation of your available funds. For many people, Social Security and the timing of when to draw… Read More »
A Poem for my Father. . .
So, I posted a blog the other day about dementia, Alzheimer’s and Parkinson’s disease, and about legal planning for these horrible diseases. In the blog, I posted a section of a poem that I wrote for my father. Since I published that blog, I have received a handful of requests to see the entire poem. … Read More »
Veteran Aid and Attendance Benefits
Today veterans across the country receive different benefits through the Veteran’s Administration (VA). What they may not know is that senior veterans, those who require home health services, house or bedbound individuals, veterans residing in an assisted living environments, and veterans with blindness may also be entitled to an added financial benefit to pay for… Read More »