Not Your Father’s Estate Planning

  Not Your Father’s Estate Planning by Eric M. Schorr So, you think because Congress wants to do away with the Federal Estate Tax you don't need to do estate planning… Think again! Although reducing potential Estate Tax is certainly a valid reason to plan, it’s certainly not the only reason. And, chances are, Estate [...]

Medicare or Medicaid… You Mean There’s a Difference?

  Medicare or Medicaid… You Mean There’s a Difference? by Eric M. Schorr Medicare and Medicaid may sound similar, but they are very different programs that serve very different needs. Although Medicare and Medicaid were both established by the Federal Government in the 1960s during the Johnson administration, that’s pretty much where the similarities end. [...]

But Momma Promised The Farm To Me…?

  But Momma Promised The Farm To Me…? by Eric M. Schorr People are living longer than ever before. Longer life spans, however, present unique problems in terms of decreased mobility, decreased capacity and increased medical expenses. The care of aging parents frequently falls to their children, and often, one child takes on a greater [...]

Republican Tax Blueprint

  Republican Tax Blueprint by Eric M. Schorr President Trump and Republican lawmakers recently unveiled a Blueprint for tax reform. However, there are still many uncertainties in the plan and in the prospects for passage. The plan calls for numerous changes to the current tax scheme, including a compression of income tax rates, a doubling [...]

Will I Have to Pay Taxes on My Inheritance?

  Will I Have to Pay Taxes on My Inheritance? by Eric M. Schorr One of the most common questions we get is whether you will have to pay taxes on your inheritance. Before you can answer this question, you need to understand that the term "taxes" actually encompasses four (or more) different types of [...]

Medicaid Myths and Misconceptions

  Medicaid Myths and Misconceptions by Eric M. Schorr With skyrocketing costs of assisted living options, more people are turning to Medicaid to help fund long-term care. But Medicaid rules are complex and confusing. Here are some common misconceptions, and what you need to know: I WON’T QUALIFY FOR MEDICAID IF I OWN MORE THAN [...]

Your Will May Not Be the Last Word

  Your Will May Not Be the Last Word by Eric M. Schorr After putting it off for years, you finally got around to making a will. Now your estate plan is complete–or is it? Many people put a great deal of thought and effort into creating their estate plans. They take the time to [...]

The Special Needs Trust Fairness Act is Law

Individuals with Disabilities can Establish Their Own Trust As of December 13, 2016, persons who are mentally capable will now be able to establish their own self-settled special needs trust (SNTs). Incredibly, this type of trust could be established before this date by a parent, grandparent, a guardian (tutor, in Louisiana) [...]