Like everything else of value, your estate can be subject to state and federal taxes. If you have significant wealth, you can forfeit a great deal financially when you pass. The value of your estate can affect how much your estate is taxed upon distribution. With several qualifications, portability, and exemption rules, it can be easy to lose the thread, which is why it’s so important to understand how estate taxes work.
Tag: Elder Law
Having a conversation around estate planning isn’t on the top of anyone small talk list, but it is crucial to your life plan. There are many different myths and misconceptions around estate planning, but here are some of the myths and misconceptions that my clients have approached me with more frequently.
When it comes to Estate Planning, I work with many different types of individuals and families at different stages of their life and needs. Too often, however, clients come to me after a painful road of mistakes. This blog is an attempt to help those out there who are unfamiliar or uncertain about estate planning avoid making three very easy to make mistakes when it comes to planning out their legacy, from being unaware of the need for it to be fearful of what it curtails.
Since I have many clients approach me needing one service – such as estate planning, assistance with Medicaid, or helping with estate administration, they are sometimes unclear exactly what an elder law attorney can comprehensively do. Elder law, the specialty that grew in the 1980s out of Medicaid and long-term care, doesn’t focus on a particular area of law, such as a divorce attorney. Instead, elder law is based around the client and provides a wide range of services in many areas.