Category Archives: Gifting

‘Tis the Season for Giving

This is the time of year when I receive numerous calls from clients asking about year-end gifts they want to give to their children or other relatives and friends. Many have questions about the amount they can gift away without … Continue reading

Posted in Estate Planning, Gifting

Year-End Gifting Thoughts – Make Your List and Check It Twice!

There are a number of reasons to make lifetime gifts: to express affection, to provide financial assistance, or to support a charitable organization, to name a few. In some cases, you may even receive a tax benefit from making the … Continue reading

Posted in Charitable Planning, Gifting

U.S. Supreme Court Same Sex Marriage Decision And its Tax Implications at the State Level Across the U.S.

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On June 26, 2015, the U.S. Supreme Court issued a landmark 5-4 decision in Obergefell v. Hodges, holding that every state must license a marriage between two people of the same sex and every state must also recognize a marriage … Continue reading

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Making Your Giving Count

           By now you have already been buried with requests from charities near and far, worthy and not-so-worthy, hoping to share in your good cheer during what is inevitably called the season of Giving.  If you’re like many parents (and … Continue reading

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To Gift, or Not to Gift

The topic of gifting assets is often an important discussion in the world of estate planning.  Generally, a main point of gifting is to remove assets from the estate of the donor to avoid potential estate taxes on the asset.  … Continue reading

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All Is Not the Same With Inherited IRAs- The US Supreme Court Denies Creditor Protection For Inherited IRAs

Recently the U.S. Supreme Court issued a ruling related to whether creditors could reach an inherited IRA.  Many individuals assumed that all IRAs were protected from creditors; however, the Supreme Court disagreed under federal bankruptcy law. The issue arose when … Continue reading

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LEGISLATION TO MAKE SURE A GIFT IS JUST A GIFT

Do you remember those Hanukah and Christmas gifts you just made to your children and grandchildren?  As I told you a few weeks ago,  if you need to qualify for MassHealth within the   next five years, you would have to … Continue reading

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Laws Allow Claims Against Fiduciaries for Nursing Home Care

To follow-up on my post on November 14, 2003, regarding the responsibility of others to pay for nursing home costs, and similar posts on this blog regarding Medicaid planning, two states have recently enacted laws that allow nursing homes to … Continue reading

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2014: By the Numbers

  Here’s a summary of some of the recently released numbers affecting tax benefits in 2014: $        Annual exclusion from gift taxes (the amount an individual may give to an unlimited number of donees each year) remains at $14,000.  The … Continue reading

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Some Thoughts About Summer Cottages

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I like practicing elder law because, among other things, my elder clients think that I’m still young at 62. As a relatively elderly elder law lawyer (quite a mouthful) I also find myself identifying more with my clients than I … Continue reading

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