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Title 19 and IRAs

May 21, 2018 by Terry Campbell

What happens if your spouse enters a nursing home?  What assets are protected for you?  Will you still be able to afford to live independently?

Medicaid Protective Trust

January 16, 2018 by Terry Campbell

It is not unusual for nursing home costs to exceed $12,000 per month.  For many individuals, a long term nursing home stay will be financially devastating.  The illness of one spouse will substantially deplete the assets available for the healthy spouse.

Tax Cuts and Jobs Act

January 03, 2018 by Stephen Lasky

The reconciled tax reform bill, commonly called the “Tax Cuts and Jobs Act” (“TCJA”), was signed into law on December 22, 2017.  The new law also includes significant changes for individual taxpayers, most of which take effect for 2018 and expire after 2025 (absent additional legislation).

Creating a Medicaid Plan

September 06, 2017 by Terry Campbell

For anyone in the middle class, a long term illness can wipe out all assets in a heartbeat.  Hard earned money and a life time savings can be wiped out quickly when faced with monthly bills that can easily exceed $10,000 per month.

Income Tax Deduction for Medical Expenses

August 22, 2017 by Stephen Lasky

If you are under the age of 65, you can claim deductions for medical expenses not covered by your health insurance only if these expenses exceed 10% of your adjusted gross income.  A temporary exemption was in place through December 31, 2016 for individuals age 65 and older and their spouses that

Divorce: Use Problem-Solving Approach Rather Than a Court Battle

June 20, 2017 by Linda Lamb

Divorce: Use Problem-Solving Approach Rather Than A Court Battle By: Attorney Susan A. HansenHansen & Hildebrand S.C. 126 N. Jefferson St.  #401 Milwaukee, WI 53202 (414) 273-2422

Annuities and Medicaid – The Misunderstood Child

May 30, 2017 by Terry Campbell

There has often been confusion about the role or purpose of annuities in Medicaid planning.  Is there a place for annuities or is this planning tool obsolete?

Revocable and Irrevocable Trusts – What is the Difference?

February 28, 2017 by Stephen Lasky

A trust is “revocable” if the terms of the governing instrument allow the trust settlor to amend the trust’s terms, or cancel (revoke) the trust or remove property from the trust without the approval or consent of a third party (e.g., trust beneficiary, a court).  Conversely, a trust is “irrevoca

Tax Reporting at Death

February 01, 2017 by Justin Prince

When a family member passes away, grieving relatives do not typically contemplate the decedent’s basic tax reporting obligations.

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