The Internal Revenue Service (IRS) has released the gift tax and estate tax exclusions for tax year 2026. These exclusion amounts are adjusted annually to account for changes in the cost of living. The following updates become effective January 1,…
Starting in 2026, older high-earning employees will lose a tax-savings perk that has helped them save extra money for retirement. In September 2025, the Internal Revenue Service (IRS) and the U.S. Treasury issued final rules on a 2022 law which…
In recent years, private equity (PE) firms have been buying more nursing homes and companies that own nursing homes. What seems at first like a simple shift in ownership can have significant consequences for residents, staff, and families trying to…
Minimizing Estate Taxes Many people assume that when they establish a revocable living trust, property held in the trust will completely avoid federal estate taxes after their death, when in fact living trusts do not provide any unique estate tax…
Social Security is best known as a retirement program, but it does far more than provide monthly income for retired workers. It also protects families by extending benefits to spouses, widows, widowers, and children when a worker retires, becomes disabled,…
Many people delay estate planning because they believe it’s only for the wealthy, the elderly, or those with complex assets. Unfortunately, these misconceptions can lead to costly and painful consequences for loved ones left behind, or even for you while…
Deciding to end a marriage as an older adult is increasingly common. If your marriage ended later in life, you could be part of the “gray” divorce trend. AARP reports that Baby Boomers, those born between 1946 and 1964, are…
In estate planning, there is a surprisingly common misstep that can have costly consequences for some families. A recent Wall Street Journal article highlighted this error: the failure to file an estate tax return upon the death of the first…
Though you are likely in good health now and can handle your own financial transactions and health care decisions, there is always a chance you could lose that ability. It could happen suddenly, as with a car accident, or gradually,…
Creating an estate plan is one of the most important steps a person can take to provide for their loved ones and ensure their wishes are carried out. But drafting a will, trust, or related documents is not a “one-and-done”…