24 12, 2021

Annual Gift Tax and Estate Tax Exclusions Are Increasing in 2022

2021-12-23T15:32:56-05:00December 24th, 2021|

The amount you can gift without filing a tax return is increasing to $16,000 in 2022, the first increase since 2018. The federal estate tax exclusion is also climbing to more than $12 million per individual. The IRS’s announcement that [...]

17 12, 2021

The Difference Between Elder Law and Estate Planning

2021-12-15T09:16:18-05:00December 17th, 2021|

Elder law and estate planning serve two different--but equally vital--functions. The main difference is that elder law is focused on preserving your assets during your lifetime, while estate planning concentrates on what happens to your assets after you die. Elder [...]

13 12, 2021

You Can ‘Cure’ a Medicaid Penalty Period by Returning a Gift

2021-12-11T13:44:47-05:00December 13th, 2021|

Anyone who gifted assets within five years of applying for Medicaid may be subject to a penalty period, but that penalty can be reduced or eliminated if the assets are returned. In order to be eligible for Medicaid, you cannot [...]

10 12, 2021

What Vaccines Does Medicare Cover?

2021-12-08T14:55:22-05:00December 10th, 2021|

Vaccines can become less effective over time. Even individuals fully vaccinated as children may need to update their immunizations. Medicare Parts B and D offer vaccination coverage. Medicare Part B covers shots for the flu, hepatitis B, pneumococcal (pneumonia), and [...]

3 12, 2021

Why You May Need a Trust in Addition to a Power of Attorney

2021-12-02T14:54:20-05:00December 3rd, 2021|

While everyone should have a durable power of attorney that appoints someone to act for them if they become incapacitated, in some circumstances it is not enough. In these cases, a revocable trust can help. A durable power of attorney allows you [...]