The federal government recently released new federal state tax exemptions for 2011 and 2012 that benefit the wealthy more than some state legislatures anticipated, with exemptions available up to $5 million per estate and $10 million per couple. Though...
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Ridgewood Estate Planning Blog
Caring for Your Elderly Relatives and Medicaid Planning, Part 2
On Behalf of The Manna Helmy Law Group | Jan 7, 2011 | Medicaid Planning / Nursing Home Planning
In our last post, we began discussing some of the issues surrounding paying family members to provide caregiving services. Here, we want to continue that discussion by talking about potential tax implications and how these arrangements may affect Medicaid...
Caring for Your Elderly Relatives and Medicaid Planning
On Behalf of The Manna Helmy Law Group | Jan 5, 2011 | Medicaid Planning / Nursing Home Planning
A confluence of factors are presenting many people with some interesting and complex problems related to Medicaid planning and estate planning. An aging population, high unemployment, and the rising cost of long-term care have combined to present many with the...
It’s Never Too Early to Start Planning for the Future
On Behalf of The Manna Helmy Law Group | Dec 31, 2010 | Estate Planning
The beginning of a new year is a natural time to look out and think about what the future has in store for you and your family. For those with young or newborn children, the immediate future may include lack of sleep, warming bottles, plenty of diaper changes, and...
Passage of Tax Bill Provides Some Clarity for Estate Planning
On Behalf of The Manna Helmy Law Group | Dec 29, 2010 | Inheritance And Estate Tax
After months of speculation on what would happen regarding the estate tax, Congress finally passed an extension of the 2001 tax cuts and provided some guidance as to the future of the estate tax. As we have discussed before, the estate tax had disappeared completely...
Taking Care of Four-Legged Loved Ones Takes Careful Planning
On Behalf of The Manna Helmy Law Group | Dec 27, 2010 | Estate Planning
The purpose of estate planning is to take care of those we leave behind and provide an orderly plan for carrying out our wishes. One aspect of creating that plan that many of us forget about is taking care of our pets. To some it may sound rather silly to talk about...
Giving Away Assets and Making Gifts, Part 3
On Behalf of The Manna Helmy Law Group | Dec 22, 2010 | Asset Protection
In our last few posts, we discussed some methods and tools that can be used by individuals that want to pass their wealth on to others while minimizing tax consequences and protecting the value of their assets. In this post, we will conclude that discussion by talking...
Giving Away Assets and Making Gifts, Part 2
On Behalf of The Manna Helmy Law Group | Dec 17, 2010 | Estate Planning
In our last post, we discussed some of the basics about making gifts as part of your estate plan. In this post, we will discuss a couple of other estate planning tools that can also be used to help you distribute and protect your assets while minimizing the tax...
Strategy is Key in Giving Away Assets and Making Gifts
On Behalf of The Manna Helmy Law Group | Dec 15, 2010 | Estate Planning
A large part of effective estate planning is creating a strategy that will protect your assets while allowing you to pass them on to your heirs. One of the most effective ways to accomplish these goals is to give those assets away. Of course, accomplishing your goals...
Updating and Revising an Estate Planning Crucial
On Behalf of The Manna Helmy Law Group | Dec 10, 2010 | Estate Planning
Dealing with estate planning issues is difficult for many people. Whether they feel intimidated by the perceived complexity of the matter, or they just don't want to discuss issues of death, many people will put estate planning off as long as possible. Fortunately, if...