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In order to maximize wealth preservation and minimize tax liabilities, high-net-worth families implement a number of legal strategies. However, tax laws continually change and can impact new and existing estate plans. For example, the SECURE and SECURE 2.0 Act presents some challenges and opportunities in high-net-worth estate planning and the ability to transfer wealth from…

As technology advances, aging Americans can remain in their homes longer and more safely due to self-monitoring medical devices, telemedicine, and smart homes. Elder law and at-home medical technology uses can intersect in several ways. Whether you are a senior looking to stay in your current home or have an aging parent and want to…

Even though Medicaid provides health insurance to low-income families and individuals, Medicaid planning is becoming increasingly popular as an alternative to spending assets to qualify for benefits due to the steep costs associated with long-term care. Individuals can plan to meet eligibility requirements by legally restructuring their financial resources and maximizing their likelihood of being…

The trend of senior consumerism is increasingly focused on wellness and solutions at affordable prices. Prevention and proactive measures are becoming increasingly important for maintaining physical and mental well-being. For seniors to thrive and flourish in retirement, technology and reliance on community and home-centered care is a game changer for wellness, financial viability, and happiness.…

You should plan for the unexpected by making sure your affairs are in order in the event of an accident, incapacitation, or death. If the COVID-19 pandemic taught us anything, it’s that life is uncertain and that caring for you and those you love is imperative, including legal preparedness. An elder law attorney and estate…

The process of building lasting generational wealth requires time and careful planning. Without specific plans to create and transfer your legacy, statistically, 70 percent of wealthy families will lose that wealth in the subsequent generation, and 90 percent will lose it in the following generation. The sooner you begin implementing the principles to build generational wealth…

It is often the case that an aging parent can no longer think clearly enough to make informed and meaningful decisions about their life. This growing inability may occur due to Alzheimer’s disease, other forms of dementia, mental illness, stroke, brain injury, or other severe health or disability conditions. In the absence of your parent…

Transferring wealth or assets between individuals or entities is called wealth transfer. The transfer can happen either during your lifetime or after your death. Wealth transfer strategies use various methods to create the most tax-efficient and effective reorganization of assets. Below are some popular wealth transfer strategies. Gifts Gift giving involves giving a gift of…

SECURE 2.0 Act and the Inflation Reduction Act (IRA) enacted in August and December of 2022, respectively, contain new tax provisions. Lower-income household tax code changes will automatically take effect. Households of higher income and net worth may want to review their retirement and estate plans to see if changes are necessary. Beyond these two…

Assuring your loved ones are taken care of after you pass away is one of the purposes of an estate plan. It requires organization and strategy and begins with five key legal documents that can address many areas of estate planning concerns. Proper estate planning can provide tax savings and asset protection so that the…