A deceased individual’s estate is taxed when assets are transferred to their heirs or beneficiaries. An estate tax is not the same as an inheritance tax. It’s a tax on the total value of a person’s assets at the date of death. The estate pays the tax before any assets are distributed to beneficiaries or […]
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The US Veterans who are preparing to retire have access to a variety of benefits programs, both short-term and long-term, for financial support and care. Programs include but are not limited to: Veterans’ Health Care and Veterans’ Pensions Survivor’s Death Pension Housebound Pension Aid and Attendance Pension Disability compensation Burial benefits And more Which Program […]
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It is important to talk to your spouse or life partner about comprehensive estate planning before making any decisions. Before meeting with an estate planning attorney, it is best to discuss your ideas to present a united goal. This conversation can be challenging if you and your loved one have different points of view about […]
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In human history, there has never been a more critical time in terms of wealth transfer than now as baby boomers prepare their estate plans. Over the next 25 years, projections estimate 68.4 trillion dollars will be in motion to create an unprecedented transfer of generational wealth. The post-WWII economic environment allowed the growth of assets during […]
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We tend not to talk or think about end-of-life planning because it’s a difficult topic for us. But without planning for it, we will have fewer options and things may not go as well as we would like for them to. You may wish to pass away in the comfort of your home, but without […]
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Smart homes, self-monitoring medical devices, telehealth, and the internet of things make it possible for many older Americans to remain in their homes for longer periods of time. Elder law and at-home medical technology uses can intersect in several ways. Whether you are a senior looking to stay in your current home or have an […]
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The number of older Americans experiencing widowhood or divorce is on the rise, prompting them to form new partnerships. The US Census Bureau reports that more than half of all older adults have only married once, opting to stay legally single in their future relationships. Cohabitating can have unforeseen and unintended consequences without a legally recognized civil […]
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It’s unlikely that people who marry for the second time (or more) are thinking about losing assets to fund their spouse’s serious illness. But that could happen. Costs for long-term care have been rising significantly for years and continue to grow. Studies show that 70% of Americans will need some form of long-term care, which can last […]
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The Social Security fund is funded by payroll taxes paid by U.S. workers during their working years. Individuals may opt to receive Social Security benefits as early as age 62. However, claiming SS benefits before the full retirement age (FRA) reduces your payment even though you will receive the benefit for a longer time. Aside […]
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Your elder law estate planning attorney understands the array of qualified information needed to create a sound estate plan.
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