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Estate Planning and Elder Law Blog

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Assistance for caregivers

What Is a Caregiver Agreement ?

Posted on: September 9, 2020 | By: David Parker, Esq.
As family members age and require care, the burden of that care often falls on an adult child. For those that leave jobs to care for family members, it can become a financial hardship for the family.
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New IRS portability rules

How to Make Beneficiary Designations Better

Posted on: September 8, 2020 | By: David Parker, Esq.
Beneficiary mistakes can result in retirement plan assets being transferred to unintended beneficiaries.
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What Happened to Phil Spector

A Four-Decades Longest Social Security Scam Finally Ends

Posted on: September 7, 2020 | By: David Parker, Esq.
In February, Social Security officials calculated that a woman who was sent monthly checks for decades was 114 years old. The problem? The lifelong New Yorker died more than 40 years ago—and may never have seen a penny of her retirement checks totaling nearly a half-million dollars.
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How does Medicare Coverage Work?

Posted on: September 4, 2020 | By: David Parker, Esq.
Medicare kicks in at 65 to help cover healthcare costs as a senior. However, it's not nearly as comprehensive as many people think.
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What doesn't Medicare cover.

What Is a Testamentary Trust ?

Posted on: September 3, 2020 | By: David Parker, Esq.
One component of your estate plan may be a testamentary trust, which is a legal document, usually created within a will, that becomes effective at your death.
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How do I know if I have an IRA inheritance ?

What are my Small Business Succession Planning Goals?

Posted on: September 2, 2020 | By: David Parker, Esq.
Small businesses are often caught up in growth cycles, profits and ensuring that products arrive to consumers on time. The life of a small business owner is a hectic one with many owners failing to follow basic estate planning and business law practices.
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Co-op and transferring to the kids

What Is a Qualified Personal Residence Trust (QPRT)?

Posted on: September 1, 2020 | By: David Parker, Esq.
When creating an estate plan, one important question to consider is how to handle the transfer of personal property, including your home. A Qualified Personal Residence Trust, or QPRT, is something you may decide to create to minimize gift and estate taxes associated for your heirs.
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Teeth and senior health

Different Grantor Trusts for Different Estate Planning Purposes

Posted on: August 31, 2020 | By: David Parker, Esq.
Trusts are legal entities that own assets, and all trusts are not alike. They are created by a written trust document with certain provisions that can vary from trust to trust.
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How do I know if I have an IRA inheritance ?

Estate Planning Is Different for Business Owners and Top-Level Executives

Posted on: August 28, 2020 | By: David Parker, Esq.
Having an estate plan can ensure that fiduciaries are identified to oversee and distribute your assets in the way you would have wanted. As a business owner, your ownership assets in your estate may require a more sophisticated level of planning.
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Is there a step-up-in-basis for real estate?

Change My Home’s Title from Tenants in Common to Joint Tenants?

Posted on: August 27, 2020 | By: David Parker, Esq.
Usually, when you make a simple change in the title from tenants in common to joint tenants, the taxing authorities will ignore that change.
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