PENNSYLVANIA BECOMES FIRST STATE TO STOP LAWYERS FROM BEING FINANCIAL ADVISORS The governing body to discipline attorneys in Pennsylvania, the Disciplinary Board of the Pennsylvania Supreme Court, has issued a prohibition against lawyers who are federally or state licensed financial advisors or insurance agents fr om recommending...
A bill has been proposed to the Texas legislature to implement the Achieving a Better Life Experience Act (ABLE) which allows adults and children with disabilities whose disability occurred before age 26 to shelter up to the annual exclusion (presently $14,000 per year) into an...
To Stretch or Not? According to a U.S. Census report, around 13 percent of our U.S. population who are not in an institution are disabled. It is anticipated with an aging population that over 50 million Americans are disabled. As a result, many plan for those...
It is anticipated that the Texas Medicaid transfer penalty divisor will be increased to the rate of $162.41 for those who apply for long-term care Medicaid on or after September 1, 2015. Under the long-term care Medicaid Rules, it is presumed that if an applicant...
According to the 2015 Long-Term Care Insurance Price Index, long-term care insurance premiums increased approximately 8.6% in year 2014 as a result of higher claim costs and low interest rates. In year 2015, approximately $7.5 billion was paid in claims. The American Association for Long-Term...
President Obama has attacked Individual Retirement Account (IRAs) as indicated by his Fiscal Year 2016 Budget released two weeks ago. Although probably most provisions will not likely be passed by congress, it paints a clear picture what the administration would like to do. Although there...
Under current law, a donor may give $14,000 per year, per person, without having to report such gift to the IRS or be subject to gift taxes. Furthermore in Texas (which follows the federal law), a donor can give an amount in excess of $14,000...
Although the Special Needs Trust Fairness Act did not pass in the last federal legislative session, it has been introduced again to overcome the present legal presumption that all disabled persons lack sufficient mental capacity to handle their own assets. As a result of a law...
What happens to your email account after you die or become incapacitated by illness? Your Facebook? The photos you’ve uploaded to Flickr or a private Instagram account? Your online banking? We used to keep our valuables and items of personal significance in safe deposit boxes,...
The Veteran’s Administration has proposed new rules for eligibility for VA pensions and the Aid and Attendance benefit which are often used by wartime Veterans or their surviving spouses to help pay for the cost of care such as assisted living facilities and nursing homes....
