Earlier this year we reported President Biden’s tax plan which included items such as raising the corporate tax rate, raising the highest marginal income tax rate, eliminating the step-up in basis at a taxpayer’s death and revising the estate tax…
Year: 2021
Can a nursing home sue an agent under a power of attorney for unpaid bills?
If you are the agent under a power of attorney for a parent or loved one, you may often sign documents on their behalf. However, it is important to be careful what you sign – and how you sign it.…
Understanding the Caretaker Child Exception
Many of our clients have heard of the “five-year lookback” but few understand what it actually means. In essence, since Medicaid is a payer of last resort, the government wants to ensure that people are not divesting themselves of assets…
Charitable and Tax Planning with Charitable Lead Trusts
A Charitable Lead Trust (“CLT”) is tax beneficial way to achieve a donor’s philanthropic goals and pass assets to heirs at a reduced transfer tax rate. A CLT is a powerful tool for donors who anticipate high estate and gift…
The Dangers of Holographic (Handwritten) Wills
There are two types of wills: (1) holographic and (2) non-holographic. Non-holographic - or typed, witnessed and attested wills - are the most common and the type that people are most familiar with. A holographic will is a will written…
Do I Really Need a Living Will?
More than any other legal document, clients are most often concerned or hesitant about signing an advance directive or “living will.” The reasons behind the hesitancy are varied but range from a thought that physicians will not honor the terms…
Funding Pooled Special Needs Trusts after Age 65
Over the course of the last year, one of the major developments in special needs law has centered around the funding of pooled special needs trusts after age 65. Historically, policy on this issue has been inconsistent among the states,…
Recent Updates: Dental Benefits Under Virginia Medicaid, Medicaid Treatment of COVID-19 Relief Payments, & COVID-19 Funeral Assistance
New Dental Benefits Available Starting on July 1, 2021, adults over age 21 who are receiving full Medicaid and FAMIS benefits are now eligible to receive comprehensive dental benefits through Virginia’s dental program, Smiles For Children, administered by DentaQuest. …
Britney Spears’ Conservatorship Highlights Flaws in the Legal System
Britney Spears was once one of the most famous pop stars on the planet. Her rise to fame made her a household name and led her to financial success, but by many accounts, her personal life suffered significantly under the…
