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Temporary Increase in Estate Tax Exemption (and Portability)
July 27th, 2018
On January 1, 2018, the Tax Cuts and Jobs Act (TCJA) took effect in the United States. The most sweeping tax reform in decades, the TCJA has affected the tax burden of both businesses and individuals, often in a favorable way. One such impact is the…
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How Medicaid Compliant Annuities Work
December 27th, 2017
If you have needed to consider nursing home care for a family member, you are well aware of how expensive such care can be. Often, Medicaid funds are available to help pay for care, but they typically require the applicant to “spend down”…
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Succession Planning for Professional Practices
December 11th, 2017
For most business owners, their business is a source not only of income but of personal and professional pride. It may represent, aside from raising a family, the most significant achievement of their lifetime. Given the importance of the business in…
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How Much Life Insurance Do I Need in My Estate Plan?
October 18th, 2017
Life insurance: you know you need it, especially if you have minor children or other loved ones who depend on your financial support. Life insurance serves many functions in an estate plan, including providing a source of support to family, ensuring…
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Should You Have a Qualified Income Trust?
September 11th, 2017
If you are contemplating the need for long-term care, you know how expensive it can be to pay for. Medicare does not pay for long-term care, but Medicaid may be available to help with these expenses. Unfortunately, to become eligible for Medicaid ass…
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Third-Party Discretionary Trusts
August 23rd, 2017
There are many types of trusts, and they can be used to serve a variety of purposes: avoiding probate, minimizing taxes, protecting assets from creditors, providing for loved ones, and more. Your goal in creating a trust, and your circumstances, dict…
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Charitable Lead Trusts vs. Charitable Remainder Trusts
August 9th, 2017
If you are fortunate enough to have significant assets that you would like to use to benefit a favorite charity, you may be considering establishing a trust for that purpose. It’s likely that you also want to benefit yourself or your loved ones…
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Estate Planning for Digital Assets
July 18th, 2017
If you’ve sat down with your attorney and developed an estate plan, congratulations! Taking this step means that you and your loved ones can have peace of mind about who will inherit your home, your bank accounts, even those knick-knacks on the…
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Protecting Your Children's Inheritance from Divorce
June 15th, 2017
Parents rejoice when their children marry, and welcome their new daughters- and sons-in-law into the family, expecting they’ll be a part of the family forever. But as we all know, marriages can end badly. We can’t spare our children the p…
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Why Your Estate Plan Needs a Durable Power of Attorney
April 26th, 2017
If you’ve taken the time to create an estate plan, congratulations! This is an important task that too many people put off. If someone asked you why you created an estate plan, what would you say? Most people would answer that question with …
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