Category archives: Planning
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9 years ago
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When leaving a home to your children, you can avoid probate by using either joint ownership or a revocable trust, but which is the better method?
If you add your child as a joint tenant on your house, you will each have an equal ownership interest in the property. If one joint tenant dies, hi... [read more]
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9 years ago
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Tax day, which is April 18th in 2017, is approaching and it is time to begin crossing T's and dotting I's in preparation for paying taxes. As tax time draws near, you want to make sure you file all the proper forms and take all deductions you're entitled to. Following are some things to keep in mind... [read more]
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9 years ago
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Many attorneys create trusts, and some even create special needs trusts, often using pre-written templates. So why, you may ask, do you really need an attorney whose practice focuses on special needs planning?
It is important that special needs trusts not be unnecessarily inflexible and gene... [read more]
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9 years ago
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As part of the Jacksonville Retirement Strategy Summit, hosted by Stratton & Company on February 25th at the University of North Florida, Managing Attorney, Grady H. Williams, Jr., LL.M., Associate Attorney, Alison E. Hickman, J.D., and Elder Care Coordinator, Marie Skipper, presented three hour... [read more]
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9 years ago
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When serving as the trustee of a special needs trust, it is crucial to be careful when making distributions for the benefit of the trust beneficiary. This is particularly true if the beneficiary receives Supplemental Security Income (SSI) because any distribution could potentially violate Social Se... [read more]
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10 years ago
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A law signed by President Obama in 2014 allows people with disabilities who became disabled before they turned 26 to set aside up to $14,000 a year in tax-free savings accounts without affecting their eligibility for government benefits. Called the Achieving a Better Life Experience (ABLE) Act, the... [read more]
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10 years ago
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A new Medicare rule will promote earlier diagnosis of Alzheimer's disease. Medicare will now reimburse primary care doctors who conduct an Alzheimer's evaluation and offer information about care planning to elderly patients with cognitive impairment.
According to the Alzheimer's Association, ... [read more]
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10 years ago
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Emotions can run high at the death of a family member. If a family member is unhappy with the amount they received (or didn't receive) under a will, he or she may contest the will. Will contests can drag out for years, keeping all the heirs from getting what they are entitled to. It may be impos... [read more]
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10 years ago
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As part of The Shepherd’s Center of Orange Park's (SCOOP's) “Adventures In Learning” Associate Attorney, Alison E. Hickman, J.D., Elder Care Coordinator, Marie Skipper, and Public Relations and Social Media Manager, Andrew Paul Williams, Ph.D. led the class, "Aging in Place by Design" this morni... [read more]
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10 years ago
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Finding love later in life may be unexpected and exciting, but should it lead to marriage? The considerations are much different for an older couple with adult children and retirement plans than for a young couple just starting out. Before deciding whether to get married or just live together, you n... [read more]
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10 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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10 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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