The Veteran’s Administration is beginning asset limits for qualification for the Aid & Attendance benefit. The limit goes into effect on October 18, 2018. If transfers are made prior to October 18, 2018, they will escape penalties on the transfer and the client would qualify. Read on for more information on this unique opportunity. New Asset Transfer Look-Back for VA Aid & Attendance … [Read more...]
Marvel Comic Legend Wins Restraining Order Based on Allegations of Elder Abuse
Sadly, elder abuse is a growing problem in the United States, and a problem that can impact anyone. You do not need to have amassed a fortune to wind up a victim of elder abuse; however, when a fortune is involved it often increases the likelihood of foul play. Marvel Comic legend Stan Lee has been making headlines recently as a result of his battle against elder abuse. The court recently renewed … [Read more...]
Trusts for Privacy
Trusts have many uses. Perhaps the most important is that they can provide privacy at death. Garry Shandling is thought to have used a trust to provide privacy for those he left behind. Trusts for Privacy … [Read more...]
Planning for Lottery Winners, Part 1 of 2
A lucky winner recently won $320 million in the lottery. This article looks at an example of a prior winner’s mistakes. The next article in the series will examine strategies for lottery winners. Planning for Lottery Winners, Part 1 of 2 … [Read more...]
What’s a 529 Plan and What Are the Benefits to Using One?
Would you be interested in a way to save money for education and get tax benefits simultaneously? A 529 plan might be what you’re seeking. Find out more by reading the benefits of a 529 plan. What’s a 529 Plan and What Are the Benefits to Using One? … [Read more...]
Estate Planning: It’s Not Just About the Estate Taxes
The recent tax law temporarily doubled the estate tax exemption. That doesn’t mean there’s no need for estate planning. Estate plans consider many important aspects, not just estate taxes. This article examines some of the many considerations besides estate taxes. Estate Planning: It’s Not Just About the Estate Taxes … [Read more...]
Incapacity Planning
Nobody wants incapacity, not for yourself and not for your loved ones. But planning for that possibility can avoid complications and increase options. The article discusses the elements of incapacity planning and the need for flexibility to do Medicaid planning. It discusses how a trust with Medicaid triggers can allow that. Incapacity Planning … [Read more...]
Planning for Frequent Flyer Miles
This article examines the transfer of frequent flyer mile accounts to beneficiaries. It looks at Anthony Bourdain’s will and its disposition of his miles. The article points out that these are contractual rights and you may or may not be able to transfer them at death. Planning for Frequent Flyer Miles … [Read more...]
Tips for the Parents of a Child with Special Needs
For the parents of a child with special needs, estate planning takes on a heightened importance. Simply including your child as a beneficiary in your estate plan will not suffice when your child has special needs because direct gifts could jeopardize eligibility for much-needed assistance programs such as Medicaid and Supplemental Security Income (SSI). The special needs planning attorneys at … [Read more...]
Apollo 11 Astronaut Sues Children for Mismanaging Money
In 1969, Buzz Aldrin was the second human being to step foot on the Moon’s surface as part of the Apollo 11 mission, cementing his spot as one of the most important people of the 21st century. Today, at age 88, he is embroiled in a legal battle with his own children who claim he is suffering from dementia. Buzz claims they have mismanaged his finances. Sadly, it is an excellent example of why … [Read more...]
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