In this increasingly mobile world, clients often spend periods of time living in other countries, or even retiring overseas. How does one address estate planning in this situation? This article explains what to do.
The Veteran’s Administration is beginning asset limits for qualification for the Aid & Attendance benefit. The limit goes into effect on October 18, 2018. If transfers are made prior to October 18, 2018, they will escape penalties on the transfer and the client would qualify. Read on for more information on this unique opportunity.
Many seniors are surprised when they realize they may need to rely on Medicaid to help them cover the often exorbitant costs associated with long-term care. Even more worrisome are the eligibility guidelines that include both income and asset limits. These guidelines can put your retirement nest egg at risk if you find yourself in […] The post What Assets Can I Have and Still Qualify for Medicaid in Connecticut? appeared first on Nirenstein, Horowitz & Associates P.C..
Whether you are considering nursing home care for a spouse, parent, or other loved one, making the decision that nursing home care is necessary is never easy. Once you have accepted that nursing home care is the best option, however, you have an equally difficult task ahead of you – finding the best facility for […] The post Top 10 Tips for Finding the Best Nursing Home appeared first on Nirenstein, Horowitz & Associates P.C..
An irrevocable trust can be one of your most important estate planning tools. There are many reasons why you may wish to create an irrevocable trust but there are also downsides that you should be aware of to this type of trust in addition to the advantages. If you are thinking of creating an irrevocable trust, you should […] The post Why Do You Need an Irrevocable Trust? appeared first on Nirenstein, Horowitz & Associates P.C..
Lottery winners often end up in bankruptcy. Learn how an estate planning attorney can help you avoid mistakes and plan for your newfound wealth. The article looks at ways to protect the wealth and ways to benefit charity and others. The post Planning for Lottery Winners, Part 2 of 2 appeared first on Nirenstein, Horowitz & Associates P.C..
Would you be interested in a way to save money for education and get tax benefits simultaneously? A 529 plan might be what you’re seeking. Find out more by reading the benefits of a 529 plan. The post What’s a 529 Plan and What Are the Benefits to Using One? appeared first on Nirenstein, Horowitz & Associates P.C..
A lucky winner recently won $320 million in the lottery. This article looks at an example of a prior winner’s mistakes. The next article in the series will examine strategies for lottery winners. The post Planning for Lottery Winners, Part 1 of 2 appeared first on Nirenstein, Horowitz & Associates P.C..
The new tax law brought a cap of $10,000 on federal deduction for state and local taxes. People are trying different ways to get around the cap. Some of the ways work and others could land you in hot water. Read the article to find out more. The post Planning to Avoid Too Much SALT appeared first on Nirenstein, Horowitz & Associates P.C..