Contemplating a stay in a nursing home is certainly an unpleasant thought. On top of needing the care, you have the financial concern of having to pay the bill. Unless you have purchased private long-term care insurance, you may be faced with depleting the family’s resources in order to pay the nursing home costs. Once […]

SEE THE 2025 UPDATE BELOW Suppose you own a home, have life insurance, own a business or have a substantial retirement account with your employer. Without knowing it, you may need a lawyer. It’s not because you are on the verge of being sued, rather it’s because your net worth may be more than you […]

See the 2025 update at the end of this article. On June 7, 2001, President George W. Bush fulfilled his campaign promise to reduce taxes by signing a much ballyhooed $1.35 trillion tax cut package known as the Economic Growth and Tax Relief Reconciliation Act of 2001. The good news is that the new law […]

As the proverb goes, “It is better to give than to receive.” The sage who coined this phrase was no doubt speaking in terms of the good we can do by making gifts. Little did he know that following this same advice can lead to tax savings as well. However, another wise man instructed us […]

In articles on spousal asset protections and income protections and another article on medicaid gifts we looked at the public assistance program known as Medicaid that provides benefits for the costs of long-term health care. Medicaid is the federal program administered by the states which provides medical benefits to those with limited assets. If your […]