Category archives: Planning
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7 years ago
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The Internal Revenue Service (IRS) is increasing the amount taxpayers can deduct from their 2017 taxes 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 that they, along with othe... [read more]
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7 years ago
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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 to give your house to your children is to leave it to the... [read more]
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7 years ago
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Most parents of children with special needs are well versed when it comes to the government benefits like Medicaid or Supplemental Security Income (SSI) that their child receives. Most know not to give the child any money outright and to establish a standalone supplemental needs trust to protect the... [read more]
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7 years ago
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Special needs trusts (SNTs) can play an important role in helping families plan for children with special needs. Here are some of the most compelling reasons to speak with your attorney about establishing an SNT.
1. Preserve public benefits while enhancing your child's lifestyle. As adults, m... [read more]
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7 years ago
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Although it is often said that nothing is certain except death and taxes, the one tax you may be able to avoid or minimize most through planning is the tax on capital gains. Here's what you need to know to do such planning:
What is capital gain? Capital gain is the difference between the "b... [read more]
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8 years ago
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As people approach age 65, they should be thinking about their Medicare enrollment choices, including whether to sign up for traditional Medicare or with a Medicare Advantage plan, and if so, which one. But it turns out that some Medicare-age people are having these important decisions made for the... [read more]
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8 years ago
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If for any reason, you become unhappy with the person you have appointed to make decisions for you under a durable power of attorney, you may revoke the power of attorney at any time. There are a few steps you should take to ensure the document is properly revoked.
While any new power of attorney... [read more]
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8 years ago
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When people retire they often have more time to travel. Although Medicare coverage is generally not available when beneficiaries are overseas, what about coverage for those exploring our own varied and scenic land?
If you have original Medicare, the answer is easy: you can travel anywhere in... [read more]
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8 years ago
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While it is illegal for a nursing home to discriminate against a Medicaid recipient, it still happens. To prevent such discrimination, nursing home residents and their families need to know their rights.
The potential for discrimination arises because Medicaid pays nursing homes less than the... [read more]
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8 years ago
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We’re proud and excited that Brittany Holley has joined our team as a law clerk. Brittany is a recent graduate of Florida Coastal School of Law and she is preparing to take the Florida Bar Examination.
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8 years ago
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The median cost of a private nursing home room in the United States has increased slightly to $92,378 a year, up 1.24 percent from 2015, according to Genworth's 2016 Cost of Care survey, which the insurer conducts annually. Genworth reports that the median cost of a semi-private room in a nursing ho... [read more]
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8 years ago
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Being the executor of an estate is not a task to take lightly. An executor is the person responsible for managing the administration of a deceased individual's estate. Although the time and effort involved will vary with the size of the estate, even if you are the executor of a small estate you will... [read more]
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