Tuesday, November 25, 2014

Caretaker Corner: Planning Tools

There are many tools available that can help you and your loved one think about the important questions related to health care decisions.   Here are some websites that may help you get the conversation about advance care planning: There also are tools online that will generate advanced directives for you. However, it is very important to execute a health care power of attorney in accordance with state law requirements.

Tuesday, November 4, 2014

Estate Tax News!

The IRS has announced that the estate tax exclusion amount for the estate of those passing away in 2015 will be $5.43 million compared to $5.34 million in 2014. The lifetime tax exclusion also rises to $5.43 million, but the annual gift tax exclusion remains at $14,000.00.   Remember, this only applies to estate tax. There are no exclusions for gifts made within 5 years under the Medicaid rules.