Over the course of your lifetime, you will likely co-own property with someone. If you marry, you may purchase a home that you want to title in both your name and your spouse’s name. If you own a business, you may also decide to purchase real property with a business partner. You might also decide to invest in property with a sibling, adult child, or close friend. As the North Andover estate planning attorneys at DeBruyckere Law Offices explain, the manner in which you hold that joint title is … [Read more...]
New Tax Proposal re: Retirement Savings
There are new tax proposals working their way through the House and Senate. These proposals, if passed, would change retirement savings significantly. Read on to learn more about these proposals and whether they might impact you or your clients.New Tax Proposal re: Retirement Savings … [Read more...]
New Jersey A.G. Announces New Protections for Elderly
Although it is unfortunate that it is necessary, it is great to know that authorities are working hard to protect the elderly from abuse. If you are a resident of New Jersey, or you have an older loved one who is, you will be pleased to hear about actions taken recently that will make the state safer for seniors. Attorney General Gurbir S. Grewal and the Division of Consumer Affairs elaborated on the actions taken recently to help protect the elderly from abuse and neglect.New Jersey Takes … [Read more...]
Staying Current on Estate Planning
It’s important for estate planning attorneys to stay up on the latest developments and techniques. The American Academy of Estate Planning Attorney held its semi-annual conference in Atlanta last month. Read on to learn more about the topics discussed at that cutting-edge conference.Staying Current on Estate Planning … [Read more...]
What Is a “Community Spouse?”
If you were fortunate over the course of your working years to be covered by employer-sponsored or privately purchased health insurance, you likely know very little about the Medicaid program. During your retirement years, however, you may find yourself in a position where eligibility for Medicaid becomes important. One of the many myths about Medicaid is that relying on Medicaid to pay for long-term care means your spouse will be left out in the cold. The Londonderry Medicaid planning attorneys … [Read more...]
Is a Reverse Mortgage Right for Me?
A reverse mortgage is a loan for senior homeowners that allows a homeowner to access a portion of the home’s equity and convert it into cash using the home as collateral. Initially, the concept of a reverse mortgage was conceived as a way to help retirees with limited income use the accumulated wealth in their homes to cover basic monthly living expenses and/or pay for costly health care; however, the proceeds of a reverse mortgage can be used for anything you wish. If you are a senior on a … [Read more...]
Kiddie Tax is Worse Than Ever
The Kiddie Tax can apply to the unearned income of children. Read on to learn if this tax applies to you or your children. Also, learn ways to avoid the Kiddie Tax.Kiddie Tax is Worse Than Ever … [Read more...]
What is a GST Trust?
A Generation-Skipping or “GST” trust can be a good way to keep assets out of the taxable estate of a beneficiary and yet still allow them to be used for the beneficiary’s benefit during life. Read on to learn more about this type of trust and whether it might make sense for you.What is a GST Trust? … [Read more...]
Planning is Critical
It’s important to have a plan. If you don’t have a plan, your state law dictates who gets your property and makes decisions for you. Read on to learn more about a heart-breaking story of someone who didn’t plan and the consequences.Planning is Critical … [Read more...]
Making Trusts More Flexible
Trusts can be drafted to be quite flexible. This article examines several ways you can add flexibility to your trust. This added flexibility will increase the usefulness of your trust.Making Trusts More Flexible … [Read more...]
