Category: Elder Law
We all want to be remembered, to feel that we’ve contributed something to the world. For some, this can be a driving force leading to great accomplishments and extraordinary contributions to mankind. But for most of us with more modest goals, what pushes us is the desire to leave a legacy. Do you know the […]
If you live in one of the states with an estate tax, you need to take the tax into account when planning your estate … Another state tax to take into account when planning your estate is the inheritance tax. Just when you think you’ve got the whole federal estate tax figured out, you may […]
Many families today are living with trusts that their ancestors established decades ago. In each case, there’s a definition of “family,” either explicitly written into the trust or, by default, applied by its governing law. There are innumerable ways that these trusts might define which family members are eligible to be beneficiaries and/ or remaindermen of […]
“This is the thing people who disinherit someone don’t understand: It puts a huge amount of pressure on those who aren’t being disinherited,” says Caschetta, whose experience inspired her to write a book on the subject that she’s trying to get published. “Suddenly you have this rift and they have this choice. ‘Do I do […]
In general, the value of an easement is the value of the property’s development rights. But in practice, these financial values are far more nuanced and flexible. Do you know the fundamentals of conservation easements? If not, then you might want to do your homework before exploring this charitable tool. Better yet, you really ought […]
The first issue regarding portability is what does portability do? The answer is that portability allows the first spouse to die to transfer his/her unused estate tax applicable exclusion amount to the surviving spouse, who can then use it for his/her gift or estate tax purposes. The American Tax Relief Act of 2012 (ATRA) brought […]
There’s never a good or easy time to talk with older parents about their finances and estate plans. But taking advantage of a relaxing moment –well before problems arise – can improve the odds of success. If you are heading out for vacation with your elderly loves ones, you may picture some relaxing time by […]
Long-Term Care, LTC, planning is one aspect of retirement planning that many people overlook. They don’t want to cover the additional expense of LTC policies, and find it difficult to plan for care that they might not need for years down the road. Before becoming a retiree, you tend to plan for those “someday” moments, […]
Are the proceeds of life insurance policies owned first by a taxpayer’s wife and then owned by a family trust, includible in a taxpayer’s gross estate? The estate tax is currently set at a generous level, with married couples able to protect up to $10.5 million combined. So it can be enticing for many taxpayers […]
Weird berries. Capsules of unpronounceable supplements. Yoga or tai chi. Crossword puzzles. Such amulets, we’re told, may ward of disability — which is the real fear that accompanies aging, isn’t it? Not the sheer number of years that will have passed, but the things we’ll no longer be able to do. Lifespans are becoming much […]
