25 12, 2016

Medicaid Long-Terms Care Waivers

2018-02-02T22:10:43-05:00December 25th, 2016|

For most elderly Americans, home health care is not a viable financial option. These services are not affordable for the average American, especially as the average human lifespan lengthens. For financial reasons, many senior citizens must turn to nursing homes [...]

22 12, 2016

Why Your Estate Planning Project Must Morph into a Process

2017-10-15T16:21:36-04:00December 22nd, 2016|

Many people put their estate plan on their to-do list as a one-time project: “Create estate plan” or “Meeting with lawyer 10:30 a.m. Thursday for estate plan.” Thinking of your estate plan as a single project or task to complete [...]

16 12, 2016

How to Pass Your Home to Your Children Tax-Free

2018-02-02T22:10:43-05:00December 16th, 2016|

Giving your house to your children can have tax consequences, but there are ways to accomplish it tax-free. The best method to use will depend on your individual circumstances and needs.  Leave the house in your will  The simplest way [...]

16 12, 2016

When Can You Delay Taking Medicare?

2018-02-02T22:10:43-05:00December 16th, 2016|

While you are eligible to apply for Medicare when you are 65, there are circumstances where you might not want to, particularly if you are working full time for a larger employer or contributing to a health savings account. However, [...]

15 12, 2016

IRS Issues Long-Term Care Premium Deductibility Limits for 2017

2018-02-02T22:10:44-05:00December 15th, 2016|

The Internal Revenue Service (IRS) is increasing the amount taxpayers can deduct from their 2017 income as a result of buying long-term care insurance. Premiums for "qualified" long-term care insurance policies (see explanation below) are tax deductible to the extent [...]

8 12, 2016

Why a Trust Is the Best Option for Avoiding Probate

2018-02-02T22:10:44-05:00December 8th, 2016|

As Ambrose Bierce once darkly observed, “Death is not the end. There remains the litigation over the estate.” Obviously, ideally, when someone passes away, the paperwork and material concerns associated with the estate are so flawlessly handled (thanks to excellent [...]

1 12, 2016

The Pros and Cons of Probate

2018-02-02T22:10:44-05:00December 1st, 2016|

In estate planning circles, the word “probate” often comes with a starkly negative connotation. Indeed, for many people — especially those with larger estates — financial planners recommend trying to keep property out of probate whenever possible. That being said, [...]