ABLE Act Passes – Special Needs Planning Has Options
The ABLE Act will change the tax code to allow for tax advantaged savings accounts for qualified individuals with disabilities to save for certain expenses, such as education and transportation.
5 Questions to Ask Before Making Gifts for Medicaid or Tax Planning
Many seniors consider transferring assets for estate and long-term care planning purposes, or just to help out children and grandchildren. Gifts and transfers to a trust often make a lot of sense. They can save money in taxes and long-term care expenditures, and they can help out family members in need and serve as expressions of love and caring. But some gifts can cause problems, for both the generous donor and the recipient.