The Internal Revenue Service (IRS) has announced the amount taxpayers can deduct from their 2021 income as a result of buying long-term care insurance. Premiums for “qualified” long-term care insurance policies (see explanation below) are tax deductible to...
CAUTION!! Many websites offer customized, do-it-yourself wills and other estate planning documents. Although such products are convenient, using them could create serious and expensive legal problems for heirs. These digital services appear to offer a cost-effective...
Revocable trusts are a very popular and useful estate planning tool. But the trust will be ineffective if you do not actually place your assets in the trust. Revocable trusts are an effective way to avoid probate and provide for asset management in the event of...
It depends in large part on the amount of funds at stake and your resources in terms of hiring an attorney. If the estate is worth it and you can afford to do so, we recommend hiring a local probate attorney to look into the matter and file papers in court if...
A U.S. appeals court rules that a group of Medicaid applicants do not have a private right of action to sue in federal court over whether they can deduct their pre-eligibility nursing home expenses from their income. Nasello v. Eagleson (7th Cir., No. 19-3215, Oct. 6,...
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