Newsletters

Decisions to Make for Your Power of Attorney A power of attorney may seem like a simple document, but there are several important decisions that need to be made when creating one. From whom to appoint to what powers to grant, care and consideration should be put into each choice. A power of attorney is one of the most important...

Helping Families Deal With the Financial and Emotional Costs of Dementia This issue of The Planner we will discuss a debilitating condition that many Americans eventually face as they age: dementia. First, we will describe what dementia is and what it isn't. Then we will turn our focus to its costs. to the individual, the family and our nation. As...

The Value of Using Irrevocable Trusts in Medicaid Planning People often wonder about the value of using irrevocable trusts in Medicaid planning. Certainly gifting of assets can be done outright, not involving an irrevocable trust. Outright gifts have the advantages of being simple to do with minimal costs involved, including the cost of preparing and recording deeds and the cost...

Medicaid Planning PLAN OR PAY What are your options? The Purpose of this Article The decision to move a family member or loved one into a nursing home is one of the most difficult decisions you can make. The laws are very complex and the decision is very emotional. That emotional time can be fraught with downfalls. Make one wrong...

Portability laws and the opportunities they create have significantly increased advisors' roles in estate planning. No longer is the standard credit shelter trust (with QTIP or outright distribution to spouse) the only way for married couples to plan. Now, CPAs, insurance professionals, and financial advisors have a larger and more complex role in determining whether an estate plan should be...

On January 2, 2013, the President signed into law the American Taxpayer Relief Act of 2012 (the 2012 Tax Act) to deal with the so-called "fiscal cliff." The 2012 Tax Act included revisions to estate, gift and generation-skipping transfer ("GST") tax laws and income tax laws that will affect estate planning for the foreseeable future. In this edition of The...