201703.23
Off
0

Massachusetts Estate Tax Planning

The majority of people have estates under the Federal $5.4 million Estate Tax exemption. But the Massachusetts exemption amount is only $1 million. Some people have enough assets to be subject to that tax. So, it makes sense to plan for it if you have to. My first planning tip is to consider moving out…

201703.08
Off
0

The Estate Tax

You may be working on your Income Tax return about now and know more than you wish about income and deductions, but do you know anything about the Estate Tax? You complete an Income Tax return every year but an Estate Tax return is something you may only encounter once, if ever. Here is some…

201603.15
Off
0

Medicaid Misconceptions

There are many misconceptions about the Medicaid program (called MassHealth in Massachusetts). It is a complex Federal/State program controlled by multiple laws and regulations. The rules vary from state to state and, most importantly, they change over time. What worked for someone else may not work for you as the rules were different in the…

201603.15
Off
0

What will your Long Term Care Cost?

A USA Today headline says that Dementia care could cost $730,000! That’s a scary number that should make you want to plan for your aging needs. However, is it really a valid estimate? The newspaper got that number by using Genworth Financial’s figure of $91,250 for full-time (24 hour) care for eight years. Many Massachusetts…

201505.22
Off
0

MOLST & POLST

A new model for end-of-life care issues, called MOLST, is now in use in Massachusetts. Around the nation, and in New Hampshire where it is also being used, the system is called Physician’s Orders for Life Sustaining Treatment (or POLST). In Massachusetts the first word is changed to “Medical” thus giving us MOLST. The point of the…

201204.05
Off
0

Death Certificates

You may not think that death and paperwork go together, but of course they do. The thought of death is difficult for most people to consider, but eventually it happens. And, in today’s complex modern society, paperwork and its details are always important. After death, one critical piece of paperwork is the record of death….