When elderly parents require more help than an in-home caregiver can provide, we recommend you take the following steps to learn about long term care before committing to relocate your parents.
Author Archives: Skvarna Law
Depending on your parenting philosophy, decide you you want to treat your children or grandchildren. Treating loved ones equally means that they all receive the same amount.
To help your loved ones avoid this troubling statistic, educate, and update your extended family about wealth transfer goals. Finally, it alerts them to the plan you created to achieve these goals.
The person who was paid must not have been reimbursed by their insurance company. Reimbursed amounts do not qualify for eligibility under the unlimited medical exclusion tax-free gift category.
Planning to Receive an Inheritance Estate planning makes most people think about preparing accounts and property for loved ones. The goals include working in a tax-efficient way. Tax advisors protect clients from probate and disgruntled heirs. Also, they watch out for beneficiaries’ creditors, divorcing spouses, bankruptcy, and more. Finally, they try to prevent poor spending […]
From a practical perspective, the grandchildren’s parents often understand how to use the money for the benefit of their children. What’s more, they may spend or invest it appropriately on their children’s behalf.
If something happens, a successor trustee you previously selected steps in without court involvement. In such a case, they manage the trust on your behalf. You can also designate what happens to the trust’s money and property at your death.
Many estate planning attorneys struggle to formulate a concrete definition of the term. Nevertheless, most estate attorneys define elder law by the demographics they serve — the elderly and the disabled.
Even if Congress fails to act, in 2026, the current rate sunsets. This cuts rates in half to about $6 million per individual. This blog post discusses ILIT Trusts. So, read on.
he SECURE Act drastically decreased which individuals could stretch distributions over their life expectancy.