» Estate Planning Law

Roseville, CA (Law Firm Newswire) March 27, 2017 – The majority of tax strategies focus on lowering federal income taxes because they make up the largest amount of taxes that someone could owe. However, in some states, income tax rates are considerably high, and can be a substantial addition to tax bills. One solution is to establish a trust in such a way that prevents it from being subject to state income tax. For the past 10 years, affluent individuals, families and their advisors have been using incomplete non-grantor (ING) trusts to reduce their exposure to state income taxes. The […]


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Fairfax, VA (Law Firm Newswire) March 21, 2017 – Many people consider making gifts to qualified charitable organizations in an effort to lower their possible estate income tax liability while helping a worthwhile cause. Potential donors should be careful to gift only the “right kind” of stock, and not the “wrong kind.” If a person is making a contribution of stock that was owned for more than one year, the owner’s tax deduction is decided by the stock’s fair market value. Therefore, if the owner donates stock with a low basis that was held for a lengthy period of time, […]


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Harrisburg, PA (Law Firm Newswire) March 16, 2017 – Marielle F. Hazen has been named a Lawyer of the Year for 2017 by Best Lawyers Pennsylvania magazine. Each year, Best Lawyers Pennsylvania highlights one attorney in a particular practice area and location to be named Lawyer of the Year. The award is significant because it is based on peer review, so the person named Lawyer of the Year must receive the highest votes from other attorneys in the area. “I am honored to be recognized by my peers in this way,” said Hazen. “I consider it a great privilege to […]


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San Francisco, CA (Law Firm Newswire) March 15, 2017 – The magazine that started in 2011 as a legal marketing publication has reached a new milestone. Starting today, Bigger Law Firm Magazine will cover current events from a legal perspective. Over the last six years, Bigger Law Firm (BLF) Magazine has introduced lawyers to online marketing tactics, practice management software, internet security and e-discovery. Starting March 15th, BLF is reaching a wider audience with active reporting on current events. As the new presidency aims to reshape the role of government and an emboldened single party Congress rushes to introduce new […]


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San Francisco, CA (Law Firm Newswire) March 3, 2017 – Last year, Gov. Jerry Brown approved legislation, which limits California’s estate recovery from low-income Medi-Cal recipients who are aged 55 to 64. The 2016-17 budget includes $30 million to curb the seizure of assets only to what is required under federal law, which is the cost of long-term care in nursing homes. The state previously sought repayment for virtually all Medi-Cal costs paid on the deceased person’s behalf. “The change in the law ensures individuals who go on Medi-Cal are no longer forced to choose between health care and being […]


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San Francisco, CA (Law Firm Newswire) February 24, 2017 – Last year, President Obama signed a reauthorization of the Older Americans Act, renewing it for three years. The legislation provides funding for many services that are necessary for older adults to maintain their health and independence. It will enable millions of elderly to stay at home and in their communities during retirement. The reauthorization enhances the Act’s core programs by funding services such as job training, caregiver support, transportation, legal services and elder abuse protection. Elder abuse prevention training will be improved, along with the screening of individuals who work […]


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New Orleans, LA (Law Firm Newswire) January 25, 2017 – A day-long intensive workshop on March 23, 2017 will reveal the secrets of effective online marketing for lawyers. The session, part of the Academy of Special Needs Planners’ 11th Annual Meeting in New Orleans, will be led by Victoria Fabiano of Google and Conrad Saam, founder of Mockingbird Marketing, an agency that delivers advanced online marketing exclusively for the legal industry. Attorneys, Saam says, are getting “intimidated, overcharged, confused and downright lied to by marketing consultants and self-proclaimed search gurus” who see dollar signs but deliver “little (if any) value.” […]


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San Francisco, CA (Law Firm Newswire) January 20, 2017 – Estate planning involves countless complex rules that can change every year. It is important to ensure that estate planning documents take modifications into account and are up to date. Tax laws govern how people can make gifts during their lifetimes and transfer estate property to heirs tax-free up to a certain amount. In 2017, the lifetime gift and estate tax exclusion amount has increased by $40,000 from 2016 to adjust for inflation. This means each individual can protect up to $5.49 million from estate and gift tax. “Neglecting to actively […]


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Wesley Chapel, FL (Law Firm Newswire) December 29, 2016 – Estate planning attorney Shiobhan Olivero has a message for young families: It is never too early to implement a basic estate plan. “It’s understandable that so many young parents put off estate planning,” Olivero said. “They have their whole lives ahead of them. But it’s better to plan ahead and recognize that life often brings the unexpected. Most young families don’t need anything fancy, but they should definitely put in place a few basic elements.” First, Olivero says, young parents should have a will. If both parents die or become […]


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Roseville, CA (Law Firm Newswire) November 30, 2016 – Effective Jan. 1, 2017, claims by California Medi-Cal Estate Recovery will be decreased to the minimal amount required under federal law. The reduction applies to those who receive Medi-Cal and who die on or after Jan. 1, 2017. The new legislation, SB 833, was signed by Governor Jerry Brown on June 27. Under federal law, the state is required to obtain an adjustment or recovery from a person’s estate for nursing facility services if the person was permanently placed in an institution. The state also had the option to secure an […]


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Fairfax, VA (Law Firm Newswire) November 28, 2016 – A considerable number of Americans are grappling with decisions concerning investments, retirement and estate planning. According to the Pain Points and Actions Report from Hearts and Wallets, an acclaimed data consulting firm, over 50 percent of those who responded to a poll said they were experiencing challenges in retirement planning. The respondents consisted of those in the latter part of their career (52 percent age 53-64), and those in the middle of their career (59 percent, age 40-52). Estate planning was especially problematic for a large amount of both pre-retirees and […]


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San Francisco, CA (Law Firm Newswire) November 15, 2016 – Many Americans approaching old age are unsure of their ability to pay for long term care, according to an Associated Press-NORC Center for Public Affairs Research report. Misconceptions persist among the aging adult population about the ways in which long term care will be financed. Around one-third of individuals aged 40 and older have not planned for their future needs, whether it is saving for a nursing home or setting aside funds for in-home care. “Planning for long term care for yourself or a loved one is essential to ensuring […]


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Roseville, CA (Law Firm Newswire) November 8, 2016 – The increasing life span for many Americans translates into the need for more financial support as they age. While men live an average of 76 years, women, on average, live for 82 years. This is a significant increase over what it was just a few decades ago. If people fail to plan for those extra years, this can end up causing great financial stress and pose a threat to the ability of the elderly to continue having a high quality of life. According to a study published by the American Association […]


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Virginia Beach, VA (Law Firm Newswire) October 28, 2016 – Under Medicaid law, there are certain security measures for the spouses of those applying for Medicaid to make certain they possess the necessary minimum support to reside in the community at a time when their husband or wife is in receipt of long-term care benefits, generally in a nursing home. The spousal protections function in the following way: if the person applying for Medicaid is married, the countable assets of both spouses are combined as of the date on which the ill spouse was admitted to either a hospital or […]


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Fairfax, VA (Law Firm Newswire) October 26, 2016 – Couples approaching retirement age and contemplating divorce, may confront problems regarding ways in which to divide their retirement accounts. The divorce rate is skyrocketing for baby boomers. According to a report by the National Center for Family and Marriage Research, between 1990 and 1994, the divorce rate among adults over age 50 doubled. And the rate tripled for those over age 65 in the same time frame. Recently, a survey conducted by the American Academy of Matrimonial Lawyers found that retirement accounts and pensions were second only to alimony as the […]


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Fairfax, VA (Law Firm Newswire) October 19, 2016 – Many people are of the opinion that if they bequeath money to charity upon their death, there will be a lesser amount left for their family. However, an experienced estate planning attorney is able to create an estate plan that includes charitable bequests and, in several cases, divert funds that are earmarked for the IRS, back to the family and charities that are important to the client. One method of accomplishing this objective is to transfer the funds that were intended to be left to charity, to a charitable remainder trust […]


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Virginia Beach, VA (Law Firm Newswire) September 19, 2016 – In families with adopted children or stepchildren who have not been formally adopted, there can be some estate planning challenges. More attention must be given to estate planning involving a family that consists of an unmarried couple in which one member has children, either biological or adopted, who are not also the children of the other member of the couple. In such a scenario, the couple should have a thorough understanding of their estate planning options. In most cases, adopted children are treated in the same manner as biological children […]


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San Francisco, CA (Law Firm Newswire) September 8, 2016 – The Content Issue by Bigger Law Firm magazine is full of ways to bring better legal content to more people. In the feature article, Kristen Friend examines the problem of how to get your website content to stand out among an ever-increasing number of sources and competitors. Her solution entails understanding your audience’s needs and the unique value you can create. Friend explains, with specifics, how to engage your audience, give them the information they need, and promote your content to reach the right people. Brendan Conley considers the question […]


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Virginia Beach, VA (Law Firm Newswire) August 8, 2016 – Among the most significant factors to consider when establishing a business succession plan is the timing of the change of ownership. Whether the owner is planning to sell or make the business a gift, or combine the sale with a gift, the changeover should not occur prior to the identification and development of the next generation of leaders. Several estate planning methods for business succession plans work most effectively in an environment of low interest rates. Usually, when there are lower interest rates, the seller has more chances to finance […]


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Virginia Beach, VA (Law Firm Newswire) July 15, 2016 – Older workers need to be wary of some potential Medicare errors that may come up if they intend to continue working past the age of 65. Approximately one-third of Americans within the age group of 65 to 69 stay in the workforce. This rate is 50 percent higher than it was ten years ago. Thus, an increasing number of older Americans are not getting Medicare upon reaching age 65. Andrew H. Hook, a prominent Virginia elder law attorney of Hook Law Center with offices in Virginia Beach and northern Suffolk, […]


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