Dynasty Trusts Used to Pass Wealth Down Through the Generations
Baker Law Group PC Blog
by bwgdev
1y ago
If you want to pass money to future generations without having it subject to gift and estate taxes, then a dynasty trust may be right for you.   The post Dynasty Trusts Used to Pass Wealth Down Through the Generations appeared first on Baker Law Group P.C. - Estate Planning ..read more
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Estranged Child and Your Estate Plan
Baker Law Group PC Blog
by bwgdev
1y ago
Unfortunately, not all families get along. If you are having problems with one of your children, you may not want them to benefit from your estate. There are several strategies for dealing with an estranged child in your estate plan. The post Estranged Child and Your Estate Plan appeared first on Baker Law Group P.C. - Estate Planning ..read more
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Cost of Long Term Care Sees Sharp Increase
Baker Law Group PC Blog
by bwgdev
1y ago
Long-term care costs climbed again in 2021, with rates for home health aides and homemakers seeing the sharpest rises, according to Genworth’s annual Cost of Care Survey. The coronavirus pandemic continues to contribute to cost increases.  The post Cost of Long Term Care Sees Sharp Increase appeared first on Baker Law Group P.C. - Estate Planning ..read more
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Comparing Nursing Home Staff Gets Easier
Baker Law Group PC Blog
by bwgdev
1y ago
The Centers for Medicare and Medicaid Services announced that it will add data on staff turnover rates and weekend staffing levels to its Care Compare website, giving consumers another tool when choosing a nursing home.  The post Comparing Nursing Home Staff Gets Easier appeared first on Baker Law Group P.C. - Estate Planning ..read more
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Charitable Trust for both Charity and Loved Ones
Baker Law Group PC Blog
by bwgdev
1y ago
A charitable lead annuity trust (CLAT) is an estate planning tool whereby a person creates a trust that initially benefits a charitable organization, foundation, or other qualifying entity for a defined period. The post Charitable Trust for both Charity and Loved Ones appeared first on Baker Law Group P.C. - Estate Planning ..read more
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What Is IRMAA? Does It Affect My Medicare Premiums?
Baker Law Group PC Blog
by bwgdev
1y ago
As we near retirement, we may assume that once Medicare kicks in, our medical insurance premiums will be fixed. However, many people may not realize that there are special rules regarding how much they pay for Medicare Parts B and D if they are in a higher income range. What Is IRMAA? If the Social […] The post What Is IRMAA? Does It Affect My Medicare Premiums? appeared first on Baker Law Group P.C. - Estate Planning ..read more
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IRS Announces Increase in 2023 Tax Exclusions
Baker Law Group PC Blog
by bwgdev
1y ago
The IRS announces three important increases for 2023 - Gift tax exlusions, estate tax exclusions, and the genertion-skipping transfer tax exemption. The post IRS Announces Increase in 2023 Tax Exclusions appeared first on Baker Law Group P.C. - Estate Planning ..read more
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Medicare Telehealth Coverage Expands
Baker Law Group PC Blog
by bwgdev
1y ago
Medicare telehealth now includes access to expanded services including physical therapy, preventative screenings and post-surgury appointments. The post Medicare Telehealth Coverage Expands appeared first on Baker Law Group P.C. - Estate Planning ..read more
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Nursing Home Care – Updated Guidance to Improve Quality
Baker Law Group PC Blog
by bwgdev
1y ago
As part of an effort seeking to improve the health and safety of nursing home residents nationwide, the Centers for Medicare and Medicaid Services released updated guidance for state agencies. The post Nursing Home Care – Updated Guidance to Improve Quality appeared first on Baker Law Group P.C. - Estate Planning ..read more
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When the Required Distribution from your IRA Isn’t Needed
Baker Law Group PC Blog
by bwgdev
1y ago
Not everyone needs their required minimum distributions from their retirement accounts to make ends meet. If you don’t need your distribution, one option is to donate it to charity and not pay taxes on it.  The post When the Required Distribution from your IRA Isn’t Needed appeared first on Baker Law Group P.C. - Estate Planning ..read more
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