Beneficiaries, in general, are people or entities that the holder of an account designates to receive the assets in the account, typically, in the event of the account holder’s death.
Who needs long-term care insurance … and who might be able to do without it?
Whether referred to as companion animals, service animals or simply as pets, they play an important part in the lives of many. Owners can use estate planning tools to ensure their pets continue to receive proper care, if the owner becomes incapacitated or dies.
Creating a will is important for all adults, but particularly those who have dependents—including adult dependents. Adding a trust to your estate plan can provide even more guidance.
One of the biggest concerns a trust creator might have is that the beneficiary would squander their inheritance or that the beneficiary’s creditor would attach the inheritance to cover the beneficiary’s debt.
Do you suspect, or know, that somebody has been stealing from you? Maybe it’s items from your home? Or maybe it’s your money? Or perhaps you’re being pressured by someone to keep giving them cash. If so, you are not alone. It’s called elder abuse.
The estate tax exemption raised by the Tax Cuts and Jobs Act will sunset in five years—possibly sooner, as the new Congress gears up for a Biden tax overhaul.
House appropriators backed White House plans for another big funding boost for the Department of Veterans Affairs next year in their first public budget draft released on Thursday.
Planning for long-term care can be an intimidating process, especially when it comes to decoding the specifics of resources, like Medicaid and Veterans Pensions. Working with the help of an experienced elder law planning attorney allows people to prepare for the future and save time, money and stress.
President Biden’s proposal to eliminate the step-up for calculating inheritance taxes targets a tactic that has long been a wealth-preservation tool. What are some of the ramifications of the proposal and what, after political wrangling, could be the tax implications for large inherited assets?
