BLOG

Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax efficiency, but there are potential problems to look out for. 

If you are experiencing financial hardship due to the coronavirus pandemic, you may want to consider withdrawing money from your retirement account while you still can. The special exemption allowing early withdrawals without a penalty ends soon. 

As we enter the giving season, there is an additional reason to be charitable. Congress enacted a special provision that allows more people to easily deduct up to $300 in donations to qualifying charities this year.

With presumptive President-elect Biden preparing to take office this January, it is important to be aware of possible implications of a Biden Administration for your short- and long-term estate planning. The Biden tax proposal, among other tax reforms, includes...

Medicare beneficiaries who qualified for skilled nursing facility (SNF) coverage may be eligible for an additional 100 days of coverage. Whether beneficiaries can actually get the extended coverage is another question.

New York was the only state that didn’t have a look-back period for Medicaid home care, but that is now changing. New York Medicaid applicants will no longer be eligible for home care if they gave away assets within 30 months of applying. 

The Social Security Administration has announced a 1.3 percent increase in benefits in 2021, an increase even smaller than last year’s. 

Once you’ve created an estate plan, it is important to keep it up to date. You will need to revisit your plan after certain key life events.