On January 23, 2015, the Department of Veteran Affairs proposed a Veteran’s Benefits Eligibility Rule Change – RIN 2900-AO73, Net Worth, Asset Transfers, and Income Exclusions for Needs-Based Benefits. A rule that would, among other things, impose a 3-year look back for transfers of assets. Including gifts to persons, trusts, and purchases of annuities. The…
What Are Digital Assets? The definition of a digital asset is “anything that exists in binary data which is self-contained, uniquely identifiable, and has a value or ability to use.” Digital assets include but are not exclusive to digital documents, audible content, and motion picture. As well as other relevant digital data that exist on…
The last part of the Connecticut Advance Healthcare Directive form includes a section that begins “I hereby make this anatomical gift…” The section includes several boxes to check to make a choice about which organs the person wants to donate and for what reasons…
As most of you who have purchased a home knows, the process to get to the closing date is not always smooth. There are many steps along the way to the closing, including inspections, title searches, and mortgage approval. How Does a Closing Date Work? The Agreement spells out how long the buyer has to…
MYTH 1: “Medicare Will Pay for Long-Term Care such as an Assisted Living Community or and Nursing Home.”
Can you gift $10,000 a year without a penalty? For tax purposes yes, with the Gift Tax Exclusion. With the holidays around the corner and the end of the year fast approaching, many of you may be thinking about making gifts for your children and grandchildren. If you want to avoid paying a gift tax…
