Category Archives: News and Current Events
Prudential to Stop Offering Group Long-Term Care Insurance, Giving Buyers One Less Option
If you have been thinking about investing in long-term care insurance when planning for the future, you now, unfortunately, have one less option to consider. Recent news reports that as of August 1 of this year, Prudential Financial Inc will stop selling group long-term care policies in all but five states. According to news… Read More »
Affordable Care Act Likely to Improve Situations of People with Disabilities
The Affordable Care Act (ACA) is a hot topic lately, and of great concern to people of all walks of life; but people with disabilities, or who rely on government benefits to help them pay for health care and living expenses, have even more at stake in the game and more reason to be… Read More »
Changing Tax Law and the Presidential Campaign
Curiosity and excitement are always to be expected in an election year—especially curiosity about taxes. We all know that each presidential candidate has very different philosophies about where the tax burden lies, how much should be paid, and by whom; but all most of us really want to know is how the implementation of… Read More »
Should Zombies Pay Estate Taxes?
How dead do you have to be before the government can tap your estate for estate taxes? Do you have to be only kind of dead, or do you have to be fully dead-dead? This is the subject of a new law review article by Adam Chodorow of the Arizona State University law school,… Read More »
With $5 Million Gift Tax Exclusion Set to Expire, Is Now the Time for You to Give?
When legislation in 2010 raised the lifetime gift tax exclusion amount from $1 million to $5 million many wealthy families rejoiced, expecting that they would now be able to give large gifts to children or grandchildren and be able to save millions in taxes at the same time. But for all the rejoicing, the… Read More »
How the Supreme Court Ruling on Health Care Reform May Affect Seniors
The recent Supreme Court ruling of the constitutionality of the new health care reforms has many seniors breathing a sigh of relief. The ruling has ensured that, at least for the time being, senior citizens will continue to receive their currently existing benefits from programs such as Medicaid and Medicare; but the ruling also… Read More »
Facebook Founders Use GRATs to Avoid Excessive Taxation; You Can Too
News sources recently revealed that Facebook founder Mark Zuckerberg—as well as other Facebook top brass—use Grantor Retained Annuity Trusts to protect their assets and investments from excessive taxation. Grantor Retained Annuity Trusts (more commonly called GRATs) are a perfectly legal—and very efficient—way to protect and pass significant assets from one person to another without… Read More »
Chesapeake Regional Medical Center Discontinues Geropsychiatric Services
Chesapeake Regional Medical Center recently announced that it is closing its geropsychiatric unit due to a change in federal Medicare funding. This unit treated adults 55 and older who suffered from mental disorders such as depression and dementia. The geropsychiatric unit was unique because it provided treatment to patients with mental issues who also… Read More »
Republican Primary Inspires Discussion of Trusts
If you follow current events at all it is impossible to ignore the fact that we are now in the thick of the Republican primary race—and that the Presidential election will not be far behind. With the political machine in full swing there have been quite a few news stories about the candidates’ financial… Read More »
The Bum Rap of Prenups: Why They Are More Romantic Than You Thought
Valentine’s Day is only a couple of weeks away, and love and marriage are in the air; but going hand in hand with love and marriage should be the wisdom to protect yourself and your beloved with a prenuptial agreement. We know that most people don’t consider prenuptial agreements a very romantic gesture, but… Read More »