What is a Fiduciary and What Are the Obligations?
When you need someone else to care for money or property on your behalf, that person (or organization) is called a fiduciary.
Understanding the Differences Between a Will and a Trust
Everyone has heard the terms “will” and “trust,” but not everyone knows the differences between the two.
Hybrid Insurance Policies
An increasingly popular hybrid product combines life insurance with long-term care coverage and offers buyers solutions to a number of problems that have kept people from buying traditional long-term care policies.
Why Not Use A Do-it-Yourself Power of Attorney Form?
A durable power of attorney is one of the most important estate planning documents you can have. It is important to get it right, so you shouldn’t use a do-it-yourself form.
Why an Irrevocable Trust May Be Superior to Gifting
Parents and other family members who want to pass on assets during their lifetimes may be tempted to gift the assets. Although setting up an irrevocable trust is not as simple as giving a gift, it may be a better way to preserve assets for the future.
How an Irrevocable Life Insurance Trust Can Be Used to Avoid the Estate Tax
With the federal estate tax exemption possibly about to be lowered, it may be time to think about steps you can take to keep your estate from being taxed. An irrevocable life insurance trust allows you to pass on money to your heirs while avoiding estate taxes.
Senators Propose Sweeping Changes to the Taxation of Estates and Inherited Gains
Vermont senator Bernie Sanders has introduced legislation that would require more estates to pay estate tax and that raises the amounts they would pay. Another proposed law would eliminate the step-up in basis that inherited assets currently enjoy.
Receiving Stimulus Checks While Living In A Nursing Home
As the latest round of stimulus checks go out, it is important to know that nursing home residents are not required to turn their checks over to their nursing home. And Medicaid recipients need to spend the cash within a year if it puts them over Medicaid’s resource limit. In December 2020, Congress approved $600 … Read more
Tax Code Changes May be on the horizon
Tax code changes may be on the horizon with the Biden Administration.
The Top Eight Mistakes People Make With Medicaid
Plan ahead and avoid these top eight mistakes people make with Medicaid.
