by Susan Grissom | Oct 6, 2015 | Estate Planning
It depends on the type of bill. Payments for medical, dental, and tuition are not subject to federal gift tax laws. But if you are paying other bills, you will be subject to the laws. This means that if you give away $14,000 or less to any one individual, you do not...
by Susan Grissom | Sep 16, 2015 | Elder Care, Estate Planning, Wills & Trust
An advance directive for health care, also known as living will, durable power of attorney for health care, or advance directive, is a legal document that allows an individual (Principal) to specify what medical actions should be taken if they are no longer able to...
by Susan Grissom | Sep 2, 2015 | Elder Care
No, previous gifts are not considered income. Medicaid rules require that nursing home residents contribute their income towards their cost of care, but his income is only income that the resident is legally entitled to receive. To insure that your generosity is not...
