People often want to know how long they should keep bank statements and other financial records. There are different rules depending on the kind and purpose of the record, but five years is probably a good rule of thumb, says Chris Bray of Rheinhardt & Bray, PC. For income tax purposes, three years is…
How Long Should You Keep Financial Records? Read More »
By James S. Rizzo, Esq.* “The difference between death and taxes is death doesn’t get worseevery time Congress meets” – Will Rogers I frequently tell clients if they have to worry about the estate tax, it’s generally a “good problem to have”, as that means their asset level is quite high. That was not the
2021 Update: Should You Be Concerned about the Estate Tax? Read More »
By James S. Rizzo, Esq.* “Out of intense complexities, intense simplicities emerge.” – Winston Churchill There is very little “basic” about Medicaid. When faced with a life altering long term nursing home stay, it is important to consult a professional to review your family’s assets and income and to determine the best option, if any,
2021 Update: “Basics” of Medicaid and Nursing Homes Read More »
COVID vaccines are starting to roll out to nursing homes across the country, signaling the beginning of the end of the pandemic. Once your loved one has had both doses of the vaccine, you may be able to visit, but precautions are still necessary. The federal government entered into a partnership with CVS and Walgreens
Can You Visit Nursing Home Residents After They are Vaccinated? Read More »
Many employers offer critical illness insurance as part of their benefit package. What is this insurance and is it worth purchasing? Before paying for a plan, you should read the fine print and consider alternatives. While a regular health insurance plan usually offers comprehensive coverage for all types of illnesses, many plans have high deductibles
What Is Critical Illness Insurance and Is It Worth Buying? Read More »
Pets are members of the family, so it is important to consider how to provide for them in your estate plan just as you would the human family members. While we may think of pets as part of our family, the law considers them to be property. This means that you cannot leave anything in
How to Create an Estate Plan That Includes Your Pet Read More »
While it may seem great to inherit a vacation house, in actuality it may not be practical to keep the property, especially for tax reasons. There are many factors to consider when inheriting property, including taxes, any mortgage, and other owners. But if you know you do not plan to keep the property, it is
Paying Taxes When Selling an Inherited Vacation House Read More »
OUR COMMITMENT Challenges like we face now present opportunities for us to come together as a community, to watch out and care for each other, and to envision and build toward a brighter future. It is up to all of us to focus our attention on helping each other and our most vulnerable family, friends
