In our last post, we began looking at an article with suggestions for married couples about how they can avoid estate taxation, particularly in the event of death in the next couple years. Here we continue that discussion.
Married couples: more tips for avoiding estate tax
Married couples: tips for avoiding estate tax
In 2011 and 2012, only individuals who die leaving an estate worth more than $5 million need concern themselves with federal estate taxes. Married person having an estate worth less than $10 do not have to pay estate tax. Those who have larger estates need to look into ways to reduce estate tax liability. The following are some tips for saving on estate tax.
Felony convictions may be problematic for executor of will
A recent article in the Star-Ledger discussed the problems a convicted felon could potentially face in acting as the executor of a will.
Caregiver agreements an important part of Medicaid planning, P.2
In our previous post, we began discussing an often overlooked aspect of Medicaid planning, namely caregiver agreements. We noted that the value of such agreements lies in their ability to prevent the recipient of health and financial management services from being penalized by Medicaid for reimbursing caregivers for health and financial management services.
Caregiver agreements an important part of Medicaid planning, P.1
According to sources, roughly 44 million adult caregivers provide some unpaid care to adults and seniors with disabilities. Those receiving services are elderly parents, disabled spouses, or another elderly family member. In these types of arrangements, family members care for their loved ones until they are no longer able to do so. Sometimes it is the inability to physically care for their loved one brings about a move, and other times family members are simply unable to continue paying for their care. At that point, many families look to Medicaid to supplement the care.
Charitable giving planning, P.2
In our last post, we spoke about the importance of considering all the options when setting up charitable gifts in one's estate plan.
Charitable giving planning, P.1
Estate planning can involve a number of strategies depending on the donor's specific situation and goals. One of those goals, for many individuals, is charitable giving.
The importance of asset protection planning
The basic idea behind asset protection planning is the preservation of your life's savings, to ensure that the wealth you have accumulated will be available to pass on to those to whom you wish to leave it.
Settling a simple will
Not all wills are complicated and difficult to carry out. Many individuals find themselves in the situation where a parent dies, leaving a simple will with very few assets.
