One of the most alarming trends affecting seniors today is the already high and rising cost of long-term care. Many people are under the impression that Medicare will take care of all their medical needs once they reach the age of 65, but this is not the case; Medicare does not pay for long-term care. Last year it cost over $83,000, on average, to spend a year in a private room in a nursing home, and almost $40,000 for a year in an assisted-living facility, so we are talking about some pretty … [Read more...] about Long Term Care Assistance For Veterans
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Estate Planning & Finer Details Of Tax Act
In December of last year Congress passed a new law temporarilychanging certain provisions of the estate tax law. The most talked-about provisions involve the estate tax exclusion and the rate of the tax. Had no new measure been passed, the estate tax exclusion would have been just $1 million and the top rate of the tax would have been 55%. As a result of the passage of this measure, we are now looking at a $5 million exclusion and a 35% maximum rate, but only until December 31, 2012; after … [Read more...] about Estate Planning & Finer Details Of Tax Act
How NOT to Avoid Probate
One of the goals people often have in estate planning is to avoid probate – the legal process that administers and settles an estate. Probate has the reputation of being costly and taking too much time, and this reputation is well deserved. But to avoid probate, you should work with an estate planning attorney, in order not to make this costly mistake. Transferring your home into the name of a family member can be such a mistake. All too often, we have seen people execute deeds that include … [Read more...] about How NOT to Avoid Probate
Elder Law Attorneys
Often when you have a loved one that requires extra care, you can be faced with a number of different issues. Financially, your situation may feel as if it is reeling out of control, and the legal issues also can seem like an impossible maze. When your loved one has Alzheimer’s, the situation can be even worse, and it is important that you make the right choices for the benefit of your loved one, as well as the rest of your family. Take steps to ensure that you are informed of what your loved … [Read more...] about Elder Law Attorneys
Avoiding Living Trust Mills
A living trust can be a powerful estate planning tool – it not only allows you to control and set parameters on the distribution of your property after you die, but it offers a mechanism to manage your property in the event of incapacitation. Because of their popularity, particularly when it comes to allowing property to avoid probate, there have been some unscrupulous sales tactics over the past decade. One of these tactics we call a "trust mill." The trust mill scam is a nationwide problem … [Read more...] about Avoiding Living Trust Mills
