Although it is often said that nothing is certain except death and taxes, the one tax you may be able to avoid or minimize most through planning is the tax on capital gains. Here’s what you need to know to…
A durable power of attorney is an extremely important estate planning tool, even more important than a will in many cases. This crucial document allows a person you appoint — your “attorney-in-fact” or “agent” — to act…
Life insurance can be beneficial in replacing lost income for young families, but as people get older, it can also serve a purpose as part of an estate plan. Historically, one main reason to buy life insurance…
Passing down a Roth IRA can seem like a good idea, but it doesn’t always make the most sense. Before converting a traditional IRA into a Roth IRA to benefit your heirs, you should consider the tax consequences. Earnings…
If for any reason, you become unhappy with the person you have appointed to make decisions for you under a durable power of attorney, you may revoke the power of attorney at any time. There are…
The phrase “life estate” often comes up in discussions of estate and Medicaid planning, but what exactly does it mean? A life estate is a form of joint ownership that allows one person to remain in…
Michelle Andrews at Kaiser Health News shares a case study highlighting the importance of having HIPAA forms and Powers of Attorney properly executed for you or other loved ones in the event of a medical emergency. When Sean…
New legislation has been introduced that would restore the estate tax and gift tax rates to 2009 levels. Michael Cohen, editor-in-chief of AccountingToday.com, explains the proposed changes in this article.
Recent changes to the Social Security retirement program will eliminate two claiming strategies that can possibly increase your rate of return. These changes will take effect for people who have not used them before April 29th. If you have not yet applied for Social Security benefits and could benefit from one of these strategies, you should get help from a qualified elder law attorney, such as Linda Strohschein and her team at Strohschein Law Group.
A lesson learned in Pennsylvania declares immediate annuities must still meet a number of stringent requirements to be accepted as legitimate by Medicaid authorities. Families considering them should get help from a qualified elder law attorney, such as Linda Strohschein and her team at Strohschein Law Group. This is an FYI for you to think about what long term care planning can put in place for you before you transfer assets to afford it. Call us today (630) 377-3241