Feature Educational Article | By Michael Nelson, Esq.
It’s All About The Basics – Estate Planning
Estate planning is a process that evolves over time and directly affects your family members, individuals who are connected to your family by marriage or business, charities, the next generation, and skipping generations(s) in terms of a legacy. Estate planning cornerstones are assets (your property) and the various forms of ownership and title that those assets are recorded in as well as assets that are not publically recorded. Not only does estate planning focus on your assets, the needs of your immediate family, but also the medical care issues should you find yourself unable to provide you own care, either mentally and/or physically.Estate Planning is a process, not an event.Estate Planning is constantly changing due to the enactment of new taxes and estate laws, changes in your life and life-style, sales and purchases of new assets and its related encumbrances and your age and health condition.Read the full story
Changes to Reverse Mortgages Affect Medicaid Planning Techniques
By: Mike Anthony, J.D.
The DRA of 2005 instituted an equity cap for homes.
A reverse mortgage is a loan for people 62 or older that lets them tap home equity. The reverse mortgage requires repayment if the homeowner dies, moves, or sells the property.On August 9, 2013 President Obama signed the Reverse Mortgage Stabilization Act into law empowering the Department of Housing and Urban Development (HUD) to make some significant changes to the reverse mortgage program. The changes in this law will have a direct impact on Medicaid eligibility planningRead the full story
Tax Reform in China and India
By: Laurence E. Lipsher
Asian finance is risky. Banks are edgy, interbank rates are high.
Journalism can vary so much by culture. For example, the press in India often publish one paragraph articles on subjects that should probably get in-depth coverage. On the other hand, the English-language Chinese press generate longer articles and seem to serve as spokespeople for the government. Thus, the seven-page article in the August 26 edition of China Daily, ‘‘China Banking on Tax Returns to Help Transform Its Economy,’’ was most likely the government telling us what it wanted us to know.
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