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HOW DOES THE AFFORDABLE CARE ACT IMPACT SENIORS? Part 2 of 2

Pre-Existing Conditions             All health insurance carriers are prohibited from including pre-existing conditions clauses in their plans.  They are also prohibited from charging varying amounts for coverage based on health, sex, age, or other common factors.  Furthermore, they may not dis-enroll a person for becoming ill.  Nursing Home Changes             Patients will be able to […]

How Does the Affordable Care Act Impact Seniors? (Part 1 of 2)

How Does the Affordable Care Act Impact Seniors?   Since its passage in 2010, the Affordable Care Act has been the subject of debates and the cause of confusion.  If you are wondering how the Act specifically affects those aged 65 and older, you’re not alone.  Read on.  Mandatory Coverage             If you are over […]

Estate Planning and Beloved Pets

Many people consider pets to be members of their family. They want to ensure that their pets are cared for after their death. A direct gift of money or other property to an animal is not recognized, however, since a pet is considered property under the law. Thus, a deceased individual’s attempt to make a […]

Benefits of Creating a Charitable Trust

Charitable trusts enable a person to donate generously to charity while receiving several tax advantages. There are different types of charitable trusts, but the most common one is called a charitable remainder trust. To establish a charitable trust, a person transfers the property he or she would like to donate into the trust through a […]

Estate Planning 101

Proper estate planning is crucial to ensuring a deceased individual’s financial goals are met after death. Ideally, an estate plan determines a multitude of issues. These may include the inheritance of assets, tax liability, and the appointment of someone to handle an individual’s financial and medical affairs if the person becomes incapacitated. There are countless […]

Inheriting IRAs: The Importance of Beneficiary Forms

For many people, an Individual Retirement Account (IRA) is one of their largest assets. It is important to note that the beneficiary form on file with the custodian of an IRA, not a will, controls who inherits it. Therefore, it is crucial to file the beneficiary form and keep the designated beneficiary current. Often an […]

Identify Your Assets to Develop an Ideal Estate Plan

Preparing for an estate planning discussion with your attorney by diligently inventorying all of your assets beforehand can greatly improve the estate planning experience and make the process more efficient. CNN Money advises a list of actions that should be taken as an individual enters the estate planning process: List all your assets. These include […]

Planning for Distribution of Tangible Personal Property

Individuals involved in planning their estate often focus on assets such as real estate, bank and retirement accounts and stocks. Frequently overlooked are the unique tangible personal property items that have been amassed over a lifetime. These items may hold sentimental value for family members and cannot be equally divided like other assets. This can […]

Florida Law Nullifies Beneficiary Interests of Ex-Spouses

For of the disposition of certain assets, Florida estate law now treats a divorced spouse the same as a predeceased spouse as soon as the divorce decree is final. Many states have implemented similar rules applicable to wills. However, the new Florida law extends to non-probate interests, such as insurance, annuities, employee benefit plans, IRAs […]

Advantages of a Living Trust

A living trust is substantially more complicated than a typical will. Consequently, it is also more expensive to set up and may require a higher degree of oversight during the settlor’s lifetime. But for some individuals and couples, especially those with larger estates, a living trust can offer numerous benefits. These include avoidance of probate, […]