In June of last year, I wrote that "in the near future, life estates will no longer be considered exempt assets when applying for Medicaid." This was due to the fact that the Virginia General Assembly had recently passed … [Read more...]
Print This PageUpdating Your Estate Plan When Your Finances Change
June 24, 2009 by
In the recent economic downturn, many homes have lost considerable value and stock portfolios have plummeted. If this is the case for you, as it is for many of our clients, you may need to change your will or amend your living … [Read more...]
Print This PagePlanning for Long-Term Care (Part 3)
February 26, 2009 by
In Part 1 of this series I outlined the necessity to create a good Long Term Care Plan and in Part 2 I discussed the three most essential documents found in that plan. The first essential document is a General Power of Attorney … [Read more...]
Print This PagePlanning for Long-Term Care (Part 2)
February 16, 2009 by
"Long-Term Care" refers to the broad spectrum of medical and support services provided to persons who have lost some or all capacity to function on their own due to a chronic illness or disabling condition, and who are expected to … [Read more...]
Print This PageEstate Planning For Parents of Special Needs Children
October 22, 2008 by
A recent Wall Street Journal article focused on estate planning for parents of children with special needs, which includes the following challenges: - How do you leave funds for the benefit of the child without causing the child … [Read more...]
Print This PageLife Estate Law Changing Soon
June 16, 2008 by
See update on this article here. In Virginia, a life estate in real estate has always been treated as an exempt asset for the purposes of Medicaid eligibility. Unfortunately, the Virginia General Assembly recently passed … [Read more...]
Print This PageDon’t Use An Off-the-Shelf Power of Attorney
June 3, 2008 by
A durable Power of Attorney is one of the most important estate planning documents you can have, because it allows you to appoint someone to act for you (your "Agent" or "Attorney-in-fact") if you become incapacitated. Without a … [Read more...]
Print This PageWithdrawing Your Early Social Security Benefit
May 5, 2008 by
Did you elect to take Social Security benefits before your full retirement age? If you did and are now looking for extra income, there may be an answer. Once you reach full retirement age, you can pay back the money you have … [Read more...]
Print This PageHow to Avoid Estate Tax
March 4, 2008 by
Federal tax law allows an unlimited transfer of property to a surviving spouse without imposing any estate tax. This is a result of the "unlimited marital deduction." In addition to the unlimited marital deduction, Federal tax law … [Read more...]
Print This PageA New Year’s Resolution
January 7, 2008 by
It is customary to begin the New Year by tackling first those tasks that have been put off. As the holiday season winds down, why not begin the New Year by getting your estate in order? A revocable living trust might be the estate … [Read more...]
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