Senior Life Care Planning helps seniors plan for their future and for what happens after they pass away. While it’s not a subject that people enjoy talking about, it’s a necessity for seniors. We help elderly people with all aspects of their current life and assets. One of the biggest areas we can help seniors with is Medicaid planning. Because Medicaid laws are constantly changing, it’s important to start the planning process as early as possible. We help seniors qualify for Medicaid and the benefits that come along with it. Estate planning is another area in which we can help…
Roth IRAs have become the darling of the financial media recently. Of course much of the chatter has been about using a Roth as part of your retirement planning strategy, and the superb conditions for Roth conversions. But what about the Roth IRA and your estate planning, what happens if you leave your Roth IRA to your estate? Marketplace Money guru for American Public Media, Chris Farrell, recently fielded the question. “When it comes to estate planning, the Roth ranks among the best of the retirement savings plans,” says Farrell. Why? Unlike a traditional IRA, a Roth does not have…
Forbes.com notes the circumstances surrounding Anna Nicole Smith and her protracted legal siege as an example of what not to do. 2010 marked the fifteenth year of fighting, and the Supreme Court’s ruling that it will hear her case once more, of whether or not her late 90-year-old husband left his estate to her. Some allege the young model was financially exploiting her (wealthy) elderly husband. This year the first of the baby boomers will turn 65, along with approximately 2.5 million of their peers. Exploitation of those 65 and older is a growing epidemic: a study by Met Life…
Your wills, trusts, powers of attorney and other documents (including health care directives) should be reviewed and updated every few years – or whenever you experience significant life events like a marriage, divorce, move to another state, birth of a child or grandchild, etc.
The number of unmarried couples is on the rise, and with them a myriad of legal snarls and entanglements. In fact, if you are not married to your partner, but have shared assets or living arrangements, the Wall Street Journal article says you may experience a sort of (un)marriage penalty. According to the Census Bureau, the number of opposite-sex unmarried couples living together in the U.S. jumped some 13% in 2010 from the previous year, to about 7.5 million. The bureau also estimates the number of same-sex couples living together rose roughly 30 percent, to about 620,000 this year from…
The new tax bill contains a little-known loophole that, if you act quickly, could save a big tax bite for those who want to make substantial gifts to grandchildren. The Generation Skipping Tax (GST), in place since 1986, is a second layer of tax applied to gifts that “skip” a generation – for example, gifts made to grandchildren if the parents are still alive. The loophole in the new tax bill not only confirms a 0% GST for all of 2010 (making the law more clear) but widens that loop hole substantially, albeit temporarily, through the end of this year,…
President Obama’s recent Republican-friendly tax proposal has riled many Democrats. The deals are still far from being made. As CNN recently pointed out, and Bloomberg called before the fact, the estate tax could be the un-hitching point, as it is becoming the focus of disgruntled Democrat attention. The Obama plan offers two benefits for those planning their estates: First, it appears to be the light at the end of the tunnel: we finally have a plan that might actually be put into place, so we can stop asking, “What’s going to happen in 2011?” Second, and this may be…
If you’re looking for a way to bring up the topic, you might consider sharing a recent issue of our newsletter, like the October issue that focuses on Family Matters.
These special types of trusts allow you to supplement any government benefits to which your
loved one may be entitled, without disqualifying them from receiving those benefits.
From the following blog http://mhs.typepad.com/threepointfive-45/dying-free-of-the-federal-estate-tax-billionaire-deaths-in-2010.html Billionaire Fortune Date of Death Estimated Net Worth (from Forbes billionaires, 3/10/10) Mary Janet Cargill inherited, Cargill Inc. February 5, 2010 $1.7 bil Dan L. Duncan self made, energy March 28, 2010 $9.0 bil Walter Shorenstein self made, real estate June 24, 2010 $1.1 bil (with family) George Steinbrenner self made, Yankees July 13, 2010 $1.1 bil John Kluge self made, Metromedia September 7, 2010 $6.5 bil
Frederick, MD 
301-663-9230
