Category Archives for 2022
Year End Tax Strategies Can Include Qualified Charitable Distribution or QCD
At about this time Americans looking to save taxes for the 2022 tax year might be casting about for strategies. One of these that can be beneficial for some taxpayers age 70 ½ and above is a Qualified Charitable Distribution or QCD. QCD’s can use the federal tax code to benefit taxpayers, mostly in the […]
Continue readingConsiderations Before Disinheriting a Child
Frequently Wills drafted for husband and wife with surviving children designate assets to flow from husband to wife if husband dies first and from wife to husband if wife dies first. Then, when the parents have both passed, assets would be distributed equally to their children. This testamentary plan works in most cases especially with stable […]
Continue readingDoes A Life Estate Make Sense For An Estate Plan
Life estates have received some attention recently as a way to resolve partial ownership of a property. Like any other estate planning tool it needs to be considered in light of the objectives of the parties involved. A life estate is a form of joint ownership that allows one person to remain in the house […]
Continue readingSupreme Court Case Examines Right to Sue Regarding Nursing Home Care
A case currently before the U.S. Supreme Court could decide whether Medicaid beneficiaries and their families can obtain relief for some nursing home violations in federal court or be left to filing a complaint with the federal Centers for Medicare and Medicaid Services (CMS). The case of Health & Hospital Corporation of Marion County (HHC) […]
Continue readingHow Do You Know When You Need a Trust?
Trusts are sometimes offered as a “cure all” solution to estate planning problems. It is true that some issues lend themselves to the use of trusts. It is also true, however, that there are states like Pennsylvania, where a trust is not generally necessary and a simple Will will work just as well. So in […]
Continue readingThe CLIO Conference and A Client Centered Law Firm
Lawyers and technology do not always work well together – or at least they did not often in the past. Some Americans actually still believe that, after a family member’s death, the lawyer “reads the Will” to assembled beneficiaries in a comfortable office preferably before a raging fire and, if a male, while smoking a […]
Continue readingComparing Yesterday To Today – Can You Afford To Retire Now?
Recently, in describing situations before today for instance back when my father would have retired if he had lived that long or even just twenty or thirty years ago I have begun to fall back on an expression from nursery rhymes “once upon a time.” The expression is useful because it is sometimes difficult to […]
Continue readingWhat You Need To Change If You Get Divorced
When you are in the middle of a divorce you know you are confronting drastic change. This could be a reason to forget some things and focus on others that might be less significant. This divorce recovery coaching here will help empower you to move through the transition of being married, feeling the stages of […]
Continue readingPersonal Choice Makes a Difference For Senior Living
After living in a house where you raised your children and you know every nook and cranny it is difficult to decide whether to stay where you are and, if you do decide to take the next step, where you should move. If you are one of a couple, your husband or wife or partner […]
Continue readingLessons For Executor – What To Do Next
If you are appointed executor of your parent’s estate, others in the family – usually brothers and sisters – might think you were placed in a favored position. After listening to several newly appointed executors and after having served in that capacity myself more than once I realize the work involved can be more than […]
Continue readingMedicare Assistance At Home Distinguished From Medicaid
The first thing you need to know when searching for assistance at home for a parent, spouse, or other loved one is the difference between help received under Medicare and Medicaid. Because of the similarity of the terms there is often confusion. Medicare can offer much needed assistance especially after hospitalization but is generally limited […]
Continue readingRetirement Decisions – More Than Just Retire or Work
Some years back I remember hearing a fictional story of a businessman trying to convince an islander of reasons to go to work as a regular employee. The islander who was quite happy relaxing in the sun and living simply off the land did not understand reasons to do this. The businessman explained that, after […]
Continue readingHow the Inflation Reduction Act Affects Senior Drug Prices
One often unrecognized fact regarding drug pricing is the the difference in bargaining power depending on what agency or group is doing the bargaining. Taking a simple but profound example, there is a huge difference in bargaining power between the U.S. Department of Veterans Affairs and the Department of Health and Human Services. In other […]
Continue readingHow To Avoid Your Bank Refusing Your Power of Attorney
Often we look to a Power of Attorney only when we need to use it. At that time, if the person who gave it to you is incapacitated, it can be too late. To avoid complications that are frustrating, annoying and possibly unnecessary, there are some steps you can take to protect both yourself and […]
Continue readingFinancial Planning Strategies Matter For Millenials
Thrivent, a financial services organization headquartered in Minneapolis, Minnesota, on April 5, 2022 published an article titled “Financial planning for millennials: How to set financial goals.” Millennials, a group variously described as from their mid-20’s to early 40’s seem rarely to be the subject of financial planning but, considering the fact they have the opportunity […]
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