The Internal Revenue Service has announced the 2009 limitations on the deductibility of long-term care insurance premiums from taxes.

Premiums for "qualified" (see explanation below) long-term care policies are tax deductible provided that they, along with other unreimbursed medical expenses, ...   more »

Very recently, “The Tax Extenders and Alternative Minimum Tax Relief Act of 2008" was signed by President Bush extending an excellent charitable planning opportunity for both 2008 and 2009. This act permits an IRA owner aged 70 ½ or older ...   more »

Just when America was warming up to the idea of purchasing long term care insurance to protect family assets from the devastating costs of custodial care, the three largest insurance companies have shaken up the market by raising prices on ...   more »

How to Enroll for Health Benefits
You can fill out the form to enroll for health benefits online at https://www.1010ez.med.va.gov/sec/vha/1010ez or you can receive the form by calling 1-877-222-VETS (8387). Once you complete and sign the form, mail it to ...   more »

Co-Payments

There are no costs for certain veterans and low-income veterans. The following veterans are eligible to receive cost-free health care benefits automatically:

-A service-connected veteran receiving VA compensation benefits
-A veteran seeking care for a specific service-connected disability
-Former ...   more »

Medical Care
The Veterans Administration (VA) provides health care benefits to veterans. The plan covers a number of health care services, including preventative services, diagnostic and treatment services, and hospitalization. It may also cover nursing home and other long term ...   more »

Learn the Ins and Outs of Being an Executor or Trustee

Taking on the job of executor or trustee is not a role to be taken lightly. If you ignore certain problem signs, you could be setting yourself up for ...   more »

Earlier this year (March 13, 2008), the Senate voted on four amendments to the estate tax that were filed as a part of the budget resolution debate. As background, the budget resolution gives Congress non-binding fiscal guidelines for the upcoming ...   more »

Recently, Medicaid announced that they are raising the Resource Level to $13,050 for a single individual and to $19,200 for a couple on Medicaid.

The increase of the Medicaid resource allowance from $4,350 to $13,050 for a single individual (and ...   more »

Deduction for Dependents. The most common, and often the most important, income tax benefit is the deduction provided for an individual who is dependent on you for support. Of course minor children, whether suffering from a disability or not, provide ...   more »

Governor David A. Paterson announced the signing of legislation to help
curb predatory attacks on New York's elderly. Governor Paterson was joined for the bill signing at St. Margaret’s House on Fulton Street by Assembly Speaker Sheldon Silver and several ...   more »

Two U.S. senators have introduced legislation that would end the practice of nursing home residents signing away their right to a trial before any actual dispute with the facility has arisen.
Nursing homes are increasingly asking -- or forcing -- ...   more »

Widows and widowers who don't want to sell their house right away will get a tax break under a new law. The law gives surviving spouses two years to sell their house and receive the full $500,000 capital gains exclusion ...   more »

Introduction: Families with special needs children must exercise extra care in making their estate plans. This is true whether their special needs child is still a minor or now an adult, and particularly so when the child is – or ...   more »

A durable power of attorney is one of the most important estate planning documents you can have. It allows you to appoint someone to act for you (your "agent" or "attorney-in-fact") if you become incapacitated. Without a power of attorney, ...   more »