Chadwick Boseman played many heroic American roles and the superhero role of the Black Panther. His death at age 43 demonstrated how it’s important to have at least a basic estate plan in place even if you’re young. Read on to learn more. … [Read more...] about Chadwick Boseman Demonstrates the Importance of Planning
Many families experience role reversals at some point in time. When you reach your middle-aged years, you may find yourself providing more and more assistance for your aging parents. This is simply the way of things, but eventually, the level of care that is needed may be beyond your capabilities. We are going to provide some insight here to help you understand some very important facts about long-term care and the costs that go along with it. Government Statistics The United States … [Read more...] about Will You Be Caring for Your Aging Parents?
Most of the laws that apply to taxation and inheritances are friendly to the taxpayer. You do not have to report an inheritance on your federal or state income tax returns, and this applies to insurance policy proceeds along with direct bequests. If you are the beneficiary of a Roth individual retirement account, the distributions would not be taxed, because the account would have been funded with after-tax earnings. The reverse situation applies to traditional accounts, so beneficiaries of … [Read more...] about Do I Pay Capital Gains Taxes on an Inheritance?
Generational wealth is wealth earned by one generation and passed on to the next. Generational wealth is key to allowing the next generation to be free from the burden of having to live hand-to-mouth and allows them to pursue an education and build a career or business to build a better life for themselves. Read on to learn more. … [Read more...] about Generational Wealth is Key to Leveling the Playing Field
The acronym “HIPAA” stands for the Health Insurance Portability and Accountability Act. To understand why we would be highlighting this piece of legislation as an elder law firm, we have to provide some background information about incapacity planning. Decision Making Ability There are some unpleasant realities of life that you should meet head on, and the eventualities of aging would certainly fit into this category. A very significant percentage of Americans live into their 80s and … [Read more...] about What Is HIPAA?