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Estate Planning & Elder Law Blog

Is a Power of Attorney Really Necessary?

A document usually included in an estate planning package is a financial power of attorney. What is a financial power of attorney?
09/26/23 • by: The Law Office of John A. Laine, P.C.
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Everyone Needs an Estate Plan

Life is unpredictable. At least some uncertainties and concerns can be addressed with a good estate plan that offers a wide range of benefits intended to protect one’s well-being and family’s wealth.
09/21/23 • by: The Law Office of John A. Laine, P.C.
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Wrong Form Leads to a Trust Forfeiting a Large Tax Refund

The moral of this tax tale is that you have to be careful about making sure you file the right tax form to get what you want.
09/14/23 • by: The Law Office of John A. Laine, P.C.
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Don’t Fall for These Medicaid and Estate Myths

Since estate issues, one way or another, affect everyone over time (since death does) and since Medicaid planning has for many years been a topic of popular conversation—and popular misconceptions in the U.S., it is not unusual that both subjects have generated misunderstandings and, in some cases, folklore that has persisted.
09/14/23 • by: The Law Office of John A. Laine, P.C.
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When Is Life Insurance Taxable?

While life insurance is typically not taxable, there are some notable exceptions that could play a role and are important to consider regarding any life insurance policy and benefit.
08/26/23 • by: The Law Office of John A. Laine, P.C.
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How Does an Intentionally Defective Grantor Trust Protect Generational Wealth?

Sometimes it might take an IDGT, or intentionally defective grantor trust, to preserve generational wealth. But how does that work?
08/24/23 • by: The Law Office of John A. Laine, P.C.
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Which Is the Best to Way to Transfer Wealth, Trusts or Wills?

Take the squabbling between siblings you've had to endure and referee as a parent. Now multiply it times age and money. That might give you some idea of the need to make your final wishes clear when the time comes to divvy up your assets.
08/17/23 • by: The Law Office of John A. Laine, P.C.
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Checklist Helps Put Affairs in Order

No one ever plans to be sick or disabled. However, planning for the future can make all the difference in an emergency and at the end-of-life. Being prepared and having important documents in a single place can give you peace of mind, help ensure that your wishes are honored and ease the burden on your loved ones.
08/17/23 • by: The Law Office of John A. Laine, P.C.
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IRS Changes Rule on Inheritance Taxes

The agency has curbed the tax break on a particular kind of trust that is often used to minimize capital gains taxes.
08/17/23 • by: The Law Office of John A. Laine, P.C.
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Never Put These Things in Your Will

Writing a will is not as simple as just slapping together a list of desires. However, there are some things you should not put in your will.
08/10/23 • by: The Law Office of John A. Laine, P.C.
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