We're hosting two estate planning workshops next week to educate local families on their estate planning options! Date: Tuesday 3/23 or Thursday 3/25Time: 6:30 p.m.Place: New Orleans Marriott Lakeway3813 N Causeway Blvd Suite 200Metairie, LA 70002 These events are open to local families and individuals who are ready to get their legal affairs in order, but aren't sure where to begin! Let Morrison Law Group, PLC teach you everything you need to know about Wills, Trusts, Medicaid, Health … [Read more...]
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The Kiddie Tax is No Child’s Game
If you set up a trust or other investment vehicle for your child, that child could incur taxes at a rate much higher than anticipated. The Kiddie Tax was enacted to prevent parents from transferring investments to the name of their child or children to take advantage of that child’s lower tax rate. Read on to learn more. … [Read more...]
How Can I Continue to Help My Nursing Home Spouse and Pass Down an Inheritance to My Children?
Deciding you can no longer adequately care for a spouse in your home is heart-wrenching. However, once you have made the decision to move your spouse to a nursing home, you will need to make a number of practical, financial, and legal adjustments as a result of the move. One of those adjustments may be to get your spouse qualified for Medicaid to help cover the high cost of nursing home care. If you have managed to hold onto a sizeable nest egg, however, you may be wondering how you can … [Read more...]
Special Needs Trusts for Children with Down Syndrome
Every year, about 6,000 babies with Down syndrome are born in the United States. Over their lifetimes, many of these children will contend with serious medical conditions including heart defects, gastrointestinal problems, visual or hearing impairment, dementia, and early-onset Alzheimer’s disease. As a result, the costs associated with Down syndrome can be astronomical and many of those with the condition receive public benefits, such as Medicaid or Supplemental Security Income … [Read more...]
Medicaid Changes Make Pre-Planning Essential
Chronic illnesses and injuries leave countless Americans disabled and in need of long-term custodial care, which could easily cost over $50,000 per year. Traditional health insurance plans do not cover custodial care because it is not “medical” treatment. Similarly, the Medicare program does not cover custodial care because it is not medical treatment. So, what options remain? You can pay the cost yourself, quickly exhausting what you’ve taken a lifetime to save. … [Read more...]
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