In order to prevent fraudsters from ruining the financial stability of older adults, there need to be more tools available to prevent them from getting around existing laws. In earlier decades, fraud schemes by snail mail and phone scams were…
For high-net-worth families, many legal strategies are employed to preserve wealth and minimize taxes. However, tax laws continually change and can impact new and existing estate plans. For example, the SECURE and SECURE 2.0 Act presents some challenges and opportunities…
According to a government report, Medicare and Social Security are at risk of insolvency. Social Security will have to start spending down, potentially including massive cuts in payments to recipients by 2035. Likewise, Medicare will be forced to leave patients…
The Medicaid savings protection law was enacted 30 years ago by Congress. These protections prevent husbands and wives from bankrupting themselves trying to fund care for their loved ones. They originally required states to allow spouses of nursing home residents…
There may be a need to reconsider your plans for passing generational wealth to your heirs since the federal estate tax exemption allowance appears to be in danger of being reduced. Senate Democrats are proposing to lower the current estate…
Envision your grandfather, Martin is elderly and his health has deteriorated to a point where he is now unable to make decisions for himself. A court appoints you to be Martin’s guardian of property, to help Martin manage his money.…
Every so often, marriage comes later in life as it did for Wanda and Harry. This was their second marriage, and both had children from the prior marriages. The couple wanted their children to inherit from their respective parents, so…
Your home is commonly your most valuable asset and a significant part of the American Dream. So when health begins to fail and the need for long-term care arises, we often get this fear-filled question from our clients: will they…
In response to the COVID-19 outbreak, the Centers for Medicare & Medicaid Services (CMS) recently announced that it has increased access to Medicare telehealth services. This means that Medicare beneficiaries can receive more benefits from their doctors without having to…
While the US economy is in a cycle of more than ten years of economic growth, its citizens, even the “wealthy” ones, are worried about running out of cash and are scared to spend. Bloomberg.com is reporting many retirees, and…