Have you heard proposed changes to the capital gains tax rate buzzing around the retirement planning world? If you are already a senior citizen and are depending on your retirement savings to fund the rest of your retirement, you may want to consider following these four tips that seniors will need if the capital gains tax...
Have you heard that the Biden administration has proposed several major changes to the federal estate tax? These include raising the capital gains tax rate for the highest earners to match ordinary income tax rates and removing the step-up basis provision that previously allowed heirs who inherited assets to avoid capital gains tax on any asset...
Have you heard of the proposed tax changes on the horizon with long term capital gains tax rates being a big focal point? Currently, the top capital gains tax rate is 23.8%. This number is reached by adding the 20% top capital gains tax rate and a 3.8% surcharge on the highest earners intended to fund...
When your aging parent needs nursing home care, although it can be difficult, it may also come as a relief if you have struggled to provide the necessary care on your own and it just may not be enough anymore. Do you understand, however, the cost structure of nursing home care and how you can help...
In the early stages of Parkinson’s, families may often be able to care for a loved one at home. As Parkinson’s progresses, however, it can become more debilitating with increasing tremors and decreasing mobility, often requiring the use of a walker or wheelchair and unfortunately, sometimes leaving a person bedridden. With the loss of mobility, risk...
Have you been planning to remarry? If so, it can be important to understand some key estate planning issues that may be directly impacted by remarriage. Election Against The Will - Overruling estate plans The first issue to be aware of is that Florida, unlike many other states, allows a spouse to elect against the will...
Has the Covid-19 pandemic cast a shadow of fear and uncertainty over your life? This year, in the face of a global pandemic, National Estate Planning Awareness Week offers an opportunity to learn how to protect yourself, your family, and your business, even in the face of a looming health threat like Covid-19. Estate planning can...
If you own more than one home, what determines your legal residence? If you work or go to college across state lines, which state can you legally call home? Such questions depend on where you are domiciled, or the place where you maintain a permanent residence. You can have more than one home, but only one...
It may be no secret that we live in a litigious society. Business owners, people worried about an expensive divorce, working professionals who operate in a legally treacherous environment, and others, are all potentially at risk of devastating lawsuits. Did you know, however, that a Domestic Asset Protection Trust is one way to protect yourself? First,...
Did you know that Individual Retirement Accounts are outstanding tools for a broad range of Americans to prepare for their post-working years? They are not, however, without drawbacks. Understanding the pros and cons of these popular investments can help account holders decide whether to contribute more during this year’s extended deadline. Due to the COVID-19 crisis,...