Now that the excitement (or relief) of Black Friday, Cyber Monday, Giving Tuesday, etc have passed, I thought it would be a good time to share a gift giving guide from an Estate Planning/Elder Law perspective. Not sure that I have a gimmicky name for this yet, but maybe next year. Many of these suggestions come from you, my clients. Thank you for sharing.
Apple Watch 4 – with new...Read More
As the holidays approach, many of us will be traveling to visit family we have not seen in awhile. This family may be our aging parents or our children who have started families of their own. For others, there will be family celebrations with those who we see everyday – because they live with us. More and more families find themselves in the latter category. A recent Wall Street...Read More
The Veterans Administration has announced changes to the eligibility requirements for Veterans to receive Aid and Attendance benefits.
The two most significant changes the VA has added is a gifting penalty and a 36-month look-back period for gifts an uncompensated transfers. These changes go in effect October 18, 2016
Overview of VA Aid and Attendance Benefits
Aid and Attendance is a Veterans...Read More
The Texas legislature created a standard, statutory form for the durable power of attorney. This is also known as a Financial Power of Attorney. This document, along with a Medical Power of Attorney, addresses circumstances when an individual is unable to make decisions for themselves. Individuals who execute these documents help their families avoid spending the time, money and energy to...Read More
For families with minor children, parent’s have some interesting decisions when they draft their estate plan. It is common for a parent’s will to leave specific directions to the executor of the will as it relates to their children. For example, if there is no surviving parent and the child has not reached a certain age, the will may direct the executor to create a trust for the...Read More
The Tax Cut and Jobs Act of 2017 has doubled the Federal Estate and Gift Tax exemption amount from $5.6 million to $11.2 million (2018 numbers). This means that if you are married, under portability rules, you and your spouse have a $22.4 million federal estate tax exemption (at least through 2026).
Many people may not have paid too much attention to these new numbers. They believe their...Read More
Long Term Care Payment Options Continue to be Limited
The Wall Street Journal continues to report on the struggles of the long term care insurance market. Why is this important? Long term care insurance was viewed as the middle class solution to affording long term care. Without long term care insurance, options are limited for many individuals approaching retirement. Even with limited...Read More
An estate plan asks the client to name individuals for a variety of responsibilities – responsibilities that differ from one another and may lead the client to determine that more than one person is best suited to fill each of these roles.
For the client
The executor of a will is responsible for following the directions set forth in the will – in other words,...Read More