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Beginning in 2020, Medicare supplement insurance policies, known as Medigap plans, will offer fewer choices to individuals who reach age 65 after January 1, 2020. Individuals who turn age 65 before 2020 will not be affected by these changes. The ABCs of Medigap plains Medigap plans, which are sold…
The Supreme Court recently issued a decision in a North Carolina case, which will likely have a limited but substantial impact on estate planning and tax-related issues. The case in issue concerned North Carolina’s taxation of Kimberley Rice Kaestner’s 1992 Family Trust for more than $1.3 million between the…
An appellate court in the case of Gonzalez v. City National Bank recently affirmed a probate court’s order that denied a plaintiff’s request after the death of plaintiff’s daughter that the remainder of a special needs trust be distributed to the plaintiff rather than the Department of Health Care Services. …
My doctors always advise me that medications are meant to help me live better not longer. I always walk away from the experience scratching my head a bit because most of my medications have made me live longer but worse than before. The worst part of taking medication daily is…
Nobody likes talking about what will happen after their death. But it is a universal truth that every one of us will die at some time, which is why it is absolutely critical to create a funeral plan. One of the best ways to make sure that your loved ones…
For many individuals, retirement accounts are one of the largest assets that they have to pass on to loved ones throughout estate plan. Without the assistance of a knowledgeable estate planning professional, however, it is very common to make mistakes including with IRA’s. In the hopes of helping you…
Trusts are an excellent way to pass and preserve wealth privately. Two of the main benefits of using a trust to pass your assets – timeliness and cost – were explored in our previous post. Unlike the probate process that accompanies the settlement of an estate by will, a trust…
There are a number of myths that continue about exactly who needs an estate plan. For example, couples without high value assets can still benefit from estate plans. Another common myth is that a person who does not have children has no need for estate planning. In reality, it…
Many people are familiar with the concept of “power of attorney”, but less have an idea about these documents operate. A power of attorney is used to give one or more individual the power to act on your behalf or as your agent in case something happens to you. …
Trusts are an excellent method for individuals with substantial assets to pass their wishes and wealth to others or a charitable organization when they pass. The key to an effective trust begins and ends with documentation. The proper documents, when drafted carefully by a qualified attorney, ensures your beneficiaries will…