One of the first questions asked by those who prepare to plan their estates is “How will my property be taxed at the time of my death?” Many are pleased to know that they need not worry about federal estate tax since Uncle Sam imposes this levy in the year 2025 only if the estate […]

In a related article, I review Medicaid “resource assessment” rules that allow you to protect certain assets when your spouse enters a nursing home. These rules are designed to make sure that the spouse in the community is not rendered penniless by having to deplete all of the couple’s resources to pay for a nursing […]

 If things stayed the same, keeping up with the law would be a breeze. Unfortunately, tax and Medicaid laws seem to change daily. Over the past year, there have been several developments. In this article, I’ll offer some of the highlights. As a result of the 2017 tax package, the federal estate tax exemption has […]

Since inflation was still with us over the past year, Social Security benefits will jump 2.5% in 2025. Benefit recipients will see the raise beginning with the checks to be issued the first week of January 2025.  Unfortunately, this increase will be offset by a rise in the Medicare Part B premium that is automatically […]

Gifts to Qualify for Medicaid In 2025, the rules adopted by the Deficit Reduction Act of 2005 still apply. Those rules are designed to restrict one’s ability to make gifts in order to qualify for nursing home Medicaid benefits. These new rules apply to any gift made on or after February 8, 2006, and within […]