The Veterans Health Administration is America’s largest integrated health care system, serving over 8.5 million veterans each year. A veteran who served in the active military and was separated from service under any condition other than dishonorable may qualify for VA health care benefits. The total number of VA treatment sites is now over 1,400 […]
A 2014 Maine court case illustrates how some families can get into significant arguments over what seems to outside observers to be fairly insignificant things. See Estate of Greenblatt, 86 A.3d 1215 (Me. 2014). In 2008 Ada Greenblatt died childless. Her will provided for specific monetary amounts to two charities and 14 nieces and nephews, […]
U.S. Trust conducts an annual survey of high net worth individuals to prepare a comprehensive report it calls the “Insights on Wealth and Worth” (“Survey”). While there are many fascinating observations and conclusions that may be drawn from the 2014 Survey, we have highlighted a few below that have a direct bearing on our practice […]
Over the years, many women decided that they didn’t want children. Their decision was made not necessarily because they were selfish; many were career-oriented and received fulfillment through their work. But as these women age they wonder who will care for them, especially when they watch their friends’ children help them through illness or life […]
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What is a reverse mortgage? Similar to a conventional mortgage (“Conventional Mortgage”), the borrower in a reverse mortgage (“Reverse Mortgage”) will continue to own the home. The lender does not take title to the home, but rather will have a lien on the property. The term “reverse” is essentially referring to a chronological difference compared […]
Yes, in that the state furnishes everyone with a plan to settle their affairs and distribute their assets when they die. That plan is called the laws of intestacy. However, that is a far cry from having your own plan to provide for who is to be in charge (the Executor) and who is to […]
Will my beneficiaries owe taxes on the retirement accounts I pass down to them? Most retirement account, including so-called “traditional” IRAs and employer sponsored 401(k) accounts, are funded with the pre-tax contributions of the plan participant (“Participant”). When withdrawals are made from that account, whether by you or by your beneficiaries, the withdrawals will be […]
An affluent client comes in for estate planning and explains that one of her foremost objectives is to make sure that the wealth she has accumulated over a lifetime of hard work is left to her children. A significant amount of her net worth happens to be held in an IRA account. After a thoughtful […]
One of the benefits of proper estate planning is to ensure that you, and your assets, will be taken care of even if you are no longer able to do so yourself. You may become disabled, for instance, and be unable to make important health care decisions for yourself and/or be unable to manage your […]