Nelson Elder Care Law's Profile

The Secret to Spousal Benefits for Social Security

Understand how Social Security spousal benefits work to make the most of your retirement funds. Continue reading

Posted Oct 4, 2019 at Nelson Elder Care Law

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Does Your Estate Plan Include Your Pets?

A pet trust is a legal arrangement that specifies how your animal companions would be cared for and taken care of financially, if you pass away, or if you become ill or disabled and can no longer take care of them yourself. Continue reading

Posted Oct 3, 2019 at Nelson Elder Care Law

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What is Portability and How Does It Impact Estate Planning?

There is often a great deal of confusion about the term “estate taxes” when someone passes away. What exactly are they? Who pays them? When are estate taxes due? How do they get paid and to whom? Continue reading

Posted Oct 2, 2019 at Nelson Elder Care Law

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Enjoying Your Retirement to the Fullest

Retirement can be a fulfilling period of life but also a stressful one, if you haven't planned ahead. Regardless of when you are aiming to retire, here are five important tips to keep in mind. Continue reading

Posted Oct 1, 2019 at Nelson Elder Care Law

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Why It’s Always Better to Plan Ahead

No one ever plans to be sick or disabled. However, it is this kind of planning that can make all the difference in an emergency, according to the National Institute on Aging. Continue reading

Posted Sep 30, 2019 at Nelson Elder Care Law

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What Happens When a Relative Sells a Home They Inherited to another Relative?

My mother recently died, leaving a house to my three siblings and me. We had the house appraised in February. My sister is buying the rest of us out. We decided to give our sister a break and sold her the house below the appraised amount. Continue reading

Posted Sep 27, 2019 at Nelson Elder Care Law

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Protecting Your Family’s Inheritance

We all want the best for our family. We work hard to provide for them. Make sure your hard work continues to provide for them once you are gone, by investing in thoughtful estate planning. Continue reading

Posted Sep 26, 2019 at Nelson Elder Care Law

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Second Marriages Need Plan to Protect Children, New Spouses

According to a study by the Pew Research Center, remarriages are on the rise. Four out of 10 marriages are now remarriages. Half of previously married seniors have remarried again. Continue reading

Posted Sep 25, 2019 at Nelson Elder Care Law

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Everyone Needs Advance Healthcare Directive, Durable Power of Attorney

One in three seniors dies with Alzheimer’s or dementia. The best way to plan for your own end of life wishes, is by having these two important documents in place. Continue reading

Posted Sep 24, 2019 at Nelson Elder Care Law

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When Retirement Is Devoted to Elderly Parents

Americans’ longer life spans mean that more families are ‘aging together,’ as researchers call the trend. Continue reading

Posted Sep 23, 2019 at Nelson Elder Care Law

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I Want to Make a Generous Gift but the Taxes?

The federal estate and gift tax are unified and allow you to give away property above the annual exclusionary gift amount or for your heirs to inherit up to a total of $11.4 million currently, without paying gift or estate taxes and this increases with inflation. Continue reading

Posted Sep 20, 2019 at Nelson Elder Care Law

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Planning for the Impact of Medicaid

When a spouse enters a nursing home, the cost of care can be financially devasting. Many families are simply unable to afford long-term care, without applying for Medicaid. To qualify for Medicaid, there are limits on the resources that an applicant may have. Resources include both income and assets. Continue reading

Posted Sep 19, 2019 at Nelson Elder Care Law

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Special Tips for Retiring Singles

You will want to replace your income. You will also want to stay socially engaged. Continue reading

Posted Sep 18, 2019 at Nelson Elder Care Law

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What Happens When Real Estate Is Inherited?

There are many questions that come with inheriting a piece of real estate. Do you want to live in it? Do you want to sell it? Do you have to split the property with another heir? Continue reading

Posted Sep 17, 2019 at Nelson Elder Care Law

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Estate Planning Can Solve Problems Before They Happen

The word ‘estate’ conjures images of great wealth, which may be one of the reasons why so many people don’t develop estate plans—after all, they’re not rich, so why make the effort? In reality, however, if you have a family, you can probably benefit from estate planning, whatever your asset level. Continue reading

Posted Sep 16, 2019 at Nelson Elder Care Law

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Filing Taxes for a Deceased Family Member

When a financially comfortable loved one departs, a bevy of tax issues can come into play. Continue reading

Posted Sep 13, 2019 at Nelson Elder Care Law

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Do Many Americans Pay Any Kind of Inheritance Tax?

Most Americans don't understand how much they pay in taxes. This is true of taxes in general. Most Americans, for example, believe the canard that half of all workers pay nothing in taxes. This is especially true with inheritance and estate taxes. Continue reading

Posted Sep 12, 2019 at Nelson Elder Care Law

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The Decedent’s Debts: Who’s on First?

Nursing home expenses and even funeral bills might initially be ignored or delayed during a time when survivors are seriously concerned about final VISA or Mastercard bills. Continue reading

Posted Sep 11, 2019 at Nelson Elder Care Law

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Can You Bequeath Frequent Flier Miles?

You obviously can’t take them with you. However, upon death, you often can’t even leave your frequent-flier miles behind. Continue reading

Posted Sep 10, 2019 at Nelson Elder Care Law

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Is It Possible to Recession-Proof Retirement?

An estimated $2.4 trillion disappeared almost overnight from Americans’ 401(k)s and IRAs, when the market crashed in 2008. This was devastating to many Americans’ retirement prospects. Continue reading

Posted Sep 9, 2019 at Nelson Elder Care Law

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Social Security Is Just One Slice of Retirement, Not the Whole Pie

Tens of millions of seniors collect Social Security. Those benefits are instrumental in helping them pay the bills. Continue reading

Posted Sep 6, 2019 at Nelson Elder Care Law

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The Dark Side of Reverse Mortgages

Reverse mortgages can be a good way for income-starved seniors to gain extra cash, when going back to work is no longer an option or desirable. The loans, which enable homeowners to tap the equity in their dwellings, also can be complex and even lead to foreclosure. Continue reading

Posted Sep 5, 2019 at Nelson Elder Care Law

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What to Know About Medicare Enrollment

Enrolling in Medicare isn’t as simple as checking a box. Seniors have a number of options when signing up for Medicare, each with its own set of enrollment requirements. In order to get the right Medicare coverage and avoid any potential penalties, you need to start planning your Medicare coverage... Continue reading

Posted Sep 4, 2019 at Nelson Elder Care Law

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Stretch IRA May be Disappearing Soon

If Congress gets its way, you’re going to lose the opportunity to help your children build wealth, and at the same time, they could end up in higher tax brackets for years. Continue reading

Posted Sep 3, 2019 at Nelson Elder Care Law

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Can I Create POA without Giving Up Control?

Disability can strike suddenly and is one of the reasons appointing an agent on your behalf to act when you cannot, is so important. Continue reading

Posted Sep 2, 2019 at Nelson Elder Care Law

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