Elder law attorneys help clients address the legal and financial challenges that they may face during their golden years and twilight years that will follow. Without question, long-term care is the most pressing matter that we address on a day-to-day basis. Just over half of senior citizens will need some type of paid care eventually, and 52 percent of these individuals will require care for over a year. Professional in-home care is very expensive, and you can expect to pay over $100,000 for … [Read more...] about Veterans Aid and Attendance Pension Can Defray Assisted Living Costs
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Use It Before It’s Gone
The amount you can pass free from estate tax is at a record high of $11.7 million per person. There’s legislation which would lower the exclusion to $3.5 million per person. Married people can take advantage of the current exemption. Read on to learn more. … [Read more...] about Use It Before It’s Gone
The Role of the Estate Planning Attorney
Clients often come to an Estate Planning attorney with specific ideas in their minds. The attorney’s role is to counsel them regarding their plan, not just to draw up documents to accomplish it. Read on to learn more. … [Read more...] about The Role of the Estate Planning Attorney
Tax Proposals Could Alter Estate Planning Landscape
Senators Sanders and Whitehouse have introduced legislation in the Senate which would significantly alter the Estate Planning landscape. It would dramatically change the tools we use to plan for our clients. Time is of the essence. Read on to learn more. … [Read more...] about Tax Proposals Could Alter Estate Planning Landscape
CRT: Best Tool for Proposed Tax Changes?
Tax proposals would increase capital gains rates, among other things. These proposed changes could make a Charitable Remainder Trust look even better. A Charitable Remainder Trust can earn the donor an income tax deduction upfront and defer gains on its sale of assets. Read on to learn more. … [Read more...] about CRT: Best Tool for Proposed Tax Changes?
How Can a Special Needs Trust Trustee Spend the Money?
Most people with disabilities in our state rely on Medi-Cal as a source of health insurance, and Supplemental Security Income (SSI) provides a modest stream of monthly cash. These are need-based programs, so you cannot qualify if you have more than $2000 in countable assets in your name. Since these folks are not in a position to work, they typically have sparse resources, so the limit is not a problem on the one hand. On the other, a parent or another family member may be willing to … [Read more...] about How Can a Special Needs Trust Trustee Spend the Money?
“Last Will and Testament” Origin
Why do you have a “Last Will and Testament.” Even Estate Planning attorneys are unlikely to know the etymology of the term. It was the subject of a recent question on “Jeopardy.” Read on to learn more. … [Read more...] about “Last Will and Testament” Origin
Using Disclaimers to Achieve Client Goals: Double Disclaimers
Disclaimers can be a good way of getting assets where you want them to go. If the disclaimer is a “qualified disclaimer,” the client isn’t treated as having made a taxable gift. Sometimes a “double disclaimer” is necessary to achieve the desired outcome. Read on to learn more. … [Read more...] about Using Disclaimers to Achieve Client Goals: Double Disclaimers
Pandemic Relief for Employers
The pandemic has been difficult for many of us, including some Estate Planning attorneys. Sometimes it’s difficult to follow all the news. But, there’s little-known pandemic relief for employers struggling from the pandemic. Read on to learn more. … [Read more...] about Pandemic Relief for Employers
How to Dispose of “Stuff”
Clients are often most concerned about how to dispose of their tangible personal property, i.e., their “stuff.” Often even wealthy clients are most concerned with the things around them rather than their financial accounts. What’s the best way to handle the “stuff”? Read on to learn more. … [Read more...] about How to Dispose of “Stuff”
