One attorney calls it the "Get out of Dodge plan"—the best way to keep your assets intact before applying for Medicaid to cover nursing home costs. New Jersey is one of the most restrictive states when it comes to permitting residents to preserve assets for their benefit while Medicaid pays…
People have many options today for creating their own estate planning documents. Forms can be purchased quickly from websites and books. However, trying to create your own estate plan can actually be more expensive than hiring an attorney. Everyone knows that attorneys can be expensive. This is just as true…
There are three basic tax advantaged vehicles to help save for college: 529 plans, Coverdall Education Savings Accounts and Roth IRAs. Saving for college? Consider three tax advantaged tools to help fund your child’s or grandchild’s education: 529 plans, Coverdall Education Savings Accounts and Roth IRAs. A recent Forbes article,…
In 2015, only estates worth more than $5.43 million per individual would owe federal estate taxes if the estate owner dies this year. That's up from last year's $5.34 million estate tax exemption. (In addition, the federal lifetime gift tax exemption also rises to $5.43 million in 2015.) 2015 brings…
Here are seven things you can do this month to positively impact your finances all year. Want to start the New Year off right when it comes to your finances? The Las Vegas Review-Journal article, titled “7 ways to give your finances a facelift in January,”cites some things you can…
As the executor of [my mom's] estate, I'm trying to help her decide what to do with the house. Let another family member live in it who couldn't pay rent but could help with upkeep? Rent it out for market value? Or sell? If she hasn't already, an article in…
Here are four rules you need to know about the estate tax for 2015. The estate tax exclusion is now $5.43 million. The federal estate tax applies only to those whose taxable estates exceed a certain amount. The U.S. has a unified gift and estate tax system, so if you…
“We see that as a big driver for everyone – the opportunity to put your money into the market and get that appreciation and have all those earnings tax-free when you use them for qualified expenses at a university or trade school, or wherever your child or grandchild, or whoever it is you're…
Many business owners fear losing control. Before they’re willing to address exit or estate planning options, they must first be assured of complete dominion over their business. So let’s look at how to lock in ownership. Are you worried about losing control of your business? A recent Forbes article, “Control…
The New Year is a great time to regroup on your financial plans, reevaluate and/or create new financial goals. By sticking to your financial resolutions throughout the year, you can keep on track towards achieving your financial objectives in 2015 and beyond. Make the New Year a happy one by…