On February 1, 2012, the U.S. House repealed a long-term care insurance program created by the 2010 health-care law that the Obama administration decided was too costly to put in place. The 267-159 vote sends the bill to the Senate, where Democrats don’t plan to bring it up.
Late Senator Ted Kennedy advocated a long-term disability […]
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March 25th, 2012
March 25th, 2012
The fate of the federal estate tax is still unclear. What is clear is that the results of the next election will play a significant role in the future of the federal estate tax system. Here is a little bit of historical background and the most likely future scenarios.
Recent Federal Estate Tax Law Changes
In December […]
March 25th, 2012
People sometimes ask - do those online or computer software estate planning programs work? My response is to ask them what they are looking to accomplish.
If they are just looking for a “product” with very little understanding of what they are purchasing (or guidance in relation to) - then utilize a program. However, if they […]
February 22nd, 2012
If you’re about to turn age 65 (or know someone who is) it’s wise to start taking care of a few personal “house keeping” tasks that can significantly impact your future finances and healthcare. Here is a short list (not meant to be all-inclusive) of some of the more important tasks that you should complete […]
February 22nd, 2012
The cost of long-term care continues its upward climb, according to the 2011 MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs. Private room nursing home rates rose 4.4 percent to $87,235 a year or $239 a day, while assisted living facility costs jumped 5.6 percent on average to $41,724 a […]
February 22nd, 2012
Many people wonder if it is a good idea to give their home to their children. While it is possible to do this, giving away a house can have major consequences, including: increased taxes due upon sale, ineligibility for Medicaid benefits, loss of control over the home, among other results.
When you give anyone property valued […]
January 21st, 2012
If you have original Medicare, the doctor you visit can make a difference in how much you have to pay. While you can go to any doctor who accepts Medicare payments, if the doctor does not “accept assignment,” you can end up paying a lot more. (This does not apply to beneficiaries who are in […]
January 21st, 2012
While it is important to have an updated estate plan, there is a lot of information that your heirs should know that doesn’t necessarily fit into a will, trust or other components of an estate plan. The solution is a letter of instruction, which can provide your heirs with guidance if you die or become […]
January 21st, 2012
Social Security doesn’t just pay retirement benefits to retired workers; in some circumstances, it also provides benefits to a worker’s spouse or ex-spouse and to a deceased worker’s surviving spouse. Here are the ins and outs of spouse and survivor benefits.
Spousal Benefits
Spouses are entitled to benefits if the marriage lasted at least 10 years. A […]
November 22nd, 2011
Amy Winehouse had many ups and downs during her short life, but it appears the singer/songwriter left behind an up-to-date and ironclad estate plan. Winehouse’s tragic death at age 27 illustrates why you are never too young for a will.
Winehouse and Blake Fielder-Civil were married briefly. Under English law, marriage negates any wills made before […]
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