Your estate plan is not something that you devise in one sitting and then tuck away in a lock box forever. As things change in your life estate plan updates are called for. On a personal level these changes include things like marriage, divorce, and remarriage; additions and subtractions to the family; and significant changes to your financial situation. … [Read more...] about Estate Tax, Legislation, & Your Legacy
The recent Health Care Reform enacted by Congress has focused on avoiding abuse to the elderly and those with special needs by incorporating the following provisions: It allows States to conduct national criminal background checks, including fingerprints, on anyone who seeks direct access to patients in long-term care facilities or with home care agencies receiving funding under the Medicare or Medicaid programs.It authorizes $10.8 million for Geriatric Education Centers to provide training … [Read more...] about The Health Care Reform Bill’s Affect on Treatment of the Elderly
Recently, I’ve been talking about the effect the Comprehensive Health Care Reform Bill and the Reconciliation Act of 2010, commonly referred to as the Health Care Reform package, has had on the elderly and those with special needs. The reach of this law has been extremely comprehensive. It establishes the Community Living Assistance Services and Supports (CLASS) program, a new national long-term care insurance program funded through voluntary payroll deductions. It also allocates $10 million … [Read more...] about The Health Care Reform Bill’s Affect on Nursing Homes
President Obama signed a Comprehensive Health Care Reform Bill (H.R. 3590) into law on March 23, 2010. Congress then passed the Reconciliation Act of 2010 (H.R. 4872), which modified H.R. 3590, on March 25, 2010. This is what is commonly referred to as the Health Care Reform package. Many clients have been asking us how this Health Care Reform will affect the elderly and those with special needs. I thought it might be helpful in this and upcoming blogs to highlight the significant provisions … [Read more...] about The Health Care Reform Bill’s Affect on Elderly and Those With Special Needs
Speaking of health care…. We have to talk about this. Caution: some may be offended by the following. So, before you go forward, be aware that the content is strong. Some may not like it. If you’re open minded, want some facts and new ideas, tune in. Health care costs are spiraling out of control. We know there are problems with our current system. We’re told if they are left untended, the current system will bankrupt us. We hear there are 40 million uninsured people in the U.S. By the … [Read more...] about The “Health Care” Debate
While attending a meeting of the American Academy of Estate Planning Attorneys, one of the presenters discussed the status of legislative proposals concerning estate tax. In a nutshell…. Today the estate tax exclusion is $3.5 million. As written, current law says the estate tax will be repealed in 2010 and revert back to a $1 million exemption in 2011. With 58 seats in the Senate (plus two Independents), a clear majority of 255 in the House and their party occupying the White House, no one in … [Read more...] about How Sensible and Relief-Oriented ARE the Federal Estate Tax Legislative Proposals?
My clients tire of me telling them this. Yet, too often it seems a well designed estate plan goes awry. Here’s an example I picked up from a post by Lou Ann Anderson in a report she wrote. Pay attention to this. This concerns a large estate. That’s not the point. It happens to estates of all sizes. In New York City a trial is underway in which Anthony Marshall, son of New York socialite and philanthropist Brooke Astor, and estate planning attorney Francis Morrissey, Jr., face charges of using … [Read more...] about Bad Behavior Can Ruin A Good Plan!