Special needs trusts can be an invaluable tool for families that have a child with special needs. One often overlooked aspect of a special needs trust (SNT), however, is how the trust is taxed. This consideration is important because the tax savings can be...
Unique tax benefits are available to families who have children with special needs. And thanks to recent changes in the tax code, there are opportunities to save substantial amounts of money at tax time. Thomas M. Brinker, Jr., a professor of accounting at Arcadia...
A bipartisan bill recently reintroduced to Congress seeks to support senior military veterans in living more independently as they age. The number of U.S. military veterans aged 85 or older who will become eligible for nursing home care is anticipated to increase by...
Privacy laws were enacted so that when a child turns 18, his or her parents are no longer able to make medical or financial decisions for them because that child is now considered a legal adult. This is the case for all children turning 18, especially those with...
Any complete estate plan should include a medical directive. This term may encompass a number of different documents, including a health care proxy, a durable power of attorney for health care, a living will, and medical instructions. The exact document or documents...
Medicare recipients living with a diagnosis of Alzheimer’s recently received promising news: The Centers for Medicare & Medicaid Services (CMS) has announced that it would begin covering new Alzheimer’s treatments that receive approval from the FDA. “If the FDA...
The week of June 5 marks Medicare Fraud Prevention Week. Seniors – as well as their caregivers – should be aware of the risks posed by Medicare scams and how to avoid falling victim to this type of fraud. Each year, Medicare loses tens of billions of dollars to abuse...
Per an announcement from the United States Department of Health and Human Services (DHHS), the federal Public Health Emergency created in response to the COVID-19 pandemic ended in May 2023. With the end of this Public Health Emergency (PHE) comes a number of shifts...
In late 2022, the federal government passed legislation known as the SECURE 2.0 Act. Provisions in this bill have made it easier for people to fund certain annuities that can delay taxes on their retirement funds until the age of 85. First, What Is an Annuity? If you...
According to the 2023 Wills and Estate Planning Survey by Caring.com, only 34 percent of Americans have an estate plan. The primary reasons respondents gave for not participating in estate planning are: Procrastination Believing they need more assets Not knowing how...
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