Tag Archives: life

Do You Need Life Insurance?

Hartford estate planning lawyers offer assistance to clients in making a plan for their legacy. Most people want to ensure their family members are fully cared for after they pass away. This can mean using a variety of estate planning tools to facilitate the transfer of assets. In some cases, it can also mean purchasing [ ] The post Do You Need Life Insurance? appeared first on Nirenstein, Horowitz & Associates P.C..
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Basics of Estate Planning: Estate Planning for Major Life Events

An estate planning attorney assists throughout the client’s life. This blog examines the role of the estate planning attorney at various stages. It also looks at the various documents which the attorney might prepare as they counsel the client. The post Basics of Estate Planning: Estate Planning for Major Life Events appeared first on Nirenstein, Horowitz & Associates P.C..
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Will I Lose my Life Savings if I Have to go To a Nursing Home?


Medicaid lawyers help you to afford nursing home care. Once you ve reached the age of 65, you have a 40 percent chance of someday requiring care in a nursing home, according to the Wall Street Journal.  Nursing home care can be astronomically expensive, which means that if you require this care for any length of [ ] The post Will I Lose my Life Savings if I Have to go To a Nursing Home? appeared first on Nirenstein, Horowitz & Associates P.C..
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Four Colossal Myths About Estate Taxes


As you go through life providing for your family, you may see a comprehensive picture. Your success can build on itself, and as you get older, you may recognize the fact that you are going to be in a position to leave behind a significant legacy for your loved ones to draw from after you are gone. This is a rewarding position to find yourself in as a senior citizen, but you do have to be aware of the potential impact of estate taxes. There are some misconceptions that people often harbor about taxes, and in this blog post, we will look at four myths that people often buy into. 1.) Every estate is subject to the federal estate tax. When you hear about the existence of estate taxes, you may automatically assume that your estate will be reduced through the imposition of these taxes after you are gone. This may be the case, but in fact, most estates are not subject to taxation. This is because there is a federal estate tax credit or exclusion that allows you to transfer a certain amount t
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What Is End of Life Planning?

Estate planning involves making preparations for the things that will happen after you pass away, but you should also consider the period of time that will precede your passing. These years are sometimes called the twilight years. First off, you should consider the possibility of long-term care expenses. According to a government agency, seven out of every 10 seniors will someday need help with their activities of daily living. Long-term care is something that most people will need; it is a likelihood, not a remote possibility. Medicare will help with your medical expenses when you re a senior citizen if you have paid into the program sufficiently throughout your life, but Medicare does not pay for long-term care. Paying out-of-pocket is not easy for most people, because nursing homes and assisted living communities are very expensive. We practice law in the state of Connecticut. In our state, the average charge for a year in a nursing home is over $100,000, and seniors often require
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Do Most Elders Require Nursing Home Care?

As you are going through life as a capable person, the concept of living assistance can seem irrelevant. Of course you are aware of the fact that some elders do require nursing home care, but you may assume that you will always be able to handle your activities of daily living. This could be especially true if you have taken good care of yourself throughout your life. It can be a sobering reality to confront, but in fact, most senior citizens will eventually need long-term care of some kind or another, and many will ultimately require nursing home care. There is a very informative website that you may want to visit if you are serious about preparing for the future called LongTermCare.gov. The site is maintained by the United States Department of Health and Human Services. According to this government maintained website, no less than 70 percent of people who are reaching the age of 65 on any given day will eventually need long-term care. Clearly, as you get older, it becomes more likel
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Can I Work When I’m On Social Security?

When you are working throughout your life, you pay a tax that can seem like a nuisance. It carries these initials: FICA. Though this can seem like money down the drain, in fact, if you live long enough you do get something for your contributions. As you are paying these taxes, you are earning retirement credits that can provide you with eligibility for Social Security and Medicare. It is relatively easy to earn the maximum amount of credits that you are allowed to accumulate in a calendar year. You can earn up to four credits each year, and in 2015, you get one credit for every $1220 that you earn. So, if you make a minimal amount of money for at least 10 years, you will qualify for Social Security and Medicare coverage. Age of Full Social Security Eligibility You may think that you become eligible for your full Social Security benefit when you reach a particular age, regardless of your year of birth. This would seem like a logical way to go about it, but the powers that be have creat
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