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Estate Planning and Elder Law Blog

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What wrong with the Presley estate?

IRS Announces New Lifetime and Gift Tax Exemptions

Posted on: November 15, 2022 | By: David Parker, Esq.
The Internal Revenue Service Today announced new inflation-adjusted limits for 2023 that will allow well-off individuals to transfer much more to their heirs tax free during life—or at death.
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What does the surviving spouse get?

Is Spouse Automatically Your Beneficiary?

Posted on: November 14, 2022 | By: David Parker, Esq.
If the surviving spouse is a second or subsequent spouse and did not have any children with the decedent, the surviving spouse takes even less.
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Long-Term Care Insurance?

Why Long-Term Care Insurance ?

Posted on: November 11, 2022 | By: David Parker, Esq.
The financial consequences of a diagnosis of Alzheimer’s disease or any one of the rarer dementias can easily fall to the family of the patient. In any diagnosis that includes declining mental health, it’s important to get one’s financial house in order.
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Social Security and In VItro

Is a Baby Born After Dad’s Death Entitled to Social Security Benefits?

Posted on: November 10, 2022 | By: David Parker, Esq.
In March 2013, 17 months after her husband died, Kathleen Steele gave birth to a child conceived through in vitro fertilization. She used a sperm sample her husband had provided to a fertility clinic before his death. However, years later, Florida and federal courts are trying to sort out an unusual legal question: Is the child, identified by the initials P.S.S., eligible for Social Security benefits resulting from Phillip Steele’s death?
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Your kids can help as co-trustee

Who Should I Name as a Co-Trustee?

Posted on: November 9, 2022 | By: David Parker, Esq.
Unlike a last will and testament, a revocable living trust is effective during your lifetime.
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5 biggest mistakes for beneficiaries

What Happens When Inheritances are Unequal?

Posted on: November 8, 2022 | By: David Parker, Esq.
Robert, the older brother, and Lon, the younger one, were close as they were growing up in the Queens borough of New York City. However, when their mother passed away and left the bulk of her estate to Robert, Lon was devastated.
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Estate Planning for the sandwich generation

Sandwich Generation - Estate Planning for Different Ages and Stages of Life

Posted on: November 7, 2022 | By: David Parker, Esq.
An estate plan works like the operating system on your phone or computer. It runs in the background. However, it needs occasional updates to keep the plan current.
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Estate Planning in a nursing home?

What Estate Planning Can a Nursing Home Resident Do?

Posted on: November 4, 2022 | By: David Parker, Esq.
Research shows that most of these executors aren’t experts and struggle with the estate settlement process.
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An elder law attorney can help with paying for a nursing home

Can an Elder Law Attorney Help Me with Medicaid?

Posted on: November 3, 2022 | By: David Parker, Esq.
How can an elder law Medicaid attorney help?
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Can a BDIT save you on taxes?

How Did Olivia Newton-John Plan Her Estate?

Posted on: November 2, 2022 | By: David Parker, Esq.
Olivia Newton-John would have celebrated her 74th birthday on September 26. The Cambridge-born star earned millions for her efforts in music and entertainment, and a staggering final act of charity saw Newton-John’s family splitting their inheritance with her charities.
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