Articles 2016-12-22T06:23:33+00:00

Articles

VA Benefits FAQ

When we talk with seniors and their families, we find that they all have the same question: how can they finance long-term care? Whether they are planning on living at home or moving into an independent or assisted living facility, outside of private resources or long-term care insurance, there are very few ways to finance this care. For veterans and spouses of deceased veterans, the Veterans Pension and Survivors Pension [...]

April 24th, 2015|

Planning for Long Term Care

As consumers, we are used to celebrity endorsements for things like shampoo, cars, cosmetics and beverages, but for long term care insurance? That seems like a weighty topic for stars to support. However, a recent campaign from Genworth Financial has enlisted notable personalities to help educate Americans about the importance of long term care planning. Our purpose at Morgan & DiSalvo in this newsletter is not to endorse any particular insurance company [...]

March 27th, 2015|

Special Needs Trust Accounts Created Under the ABLE Act

by Diane Weinberg This month’s Passionate Estate Planner continues our discussion of trusts used in special needs planning. In January, we looked at three types of special needs trusts commonly used to preserve assets for an individual with a disability while allowing that individual to qualify for public benefits: a self-settled (first party) special needs trust, a third party supplemental needs trust, and a community pooled trust. This month, we are [...]

February 17th, 2015|

Primer on Special Needs Trusts

by Diane Weinberg Last week, I received my first phone call about the Achieving a Better Life Experience (ABLE) Act, new legislation creating a type of special needs trust for individuals with disabilities. A financial planner called me about a client who was concerned that he was going to have to liquidate certain assets of his special needs child to comply with the terms of the Act. The good news is [...]

January 29th, 2015|

POWERS OF ATTORNEY – How to Avoid Potential Agent Liability with a Quick Fix

By Loraine M. DiSalvo Under the Federal Bank Secrecy Act, the U.S. Treasury Department was given the authority to collect information about financial accounts held anywhere outside of the United States. Financial accounts are broadly defined, covering bank or brokerage accounts, commodities, futures and options, mutual funds, and many other kinds of securities, insurance policies with a cash value, and any other accounts which are held with a foreign financial [...]

December 10th, 2014|

Planning for Incapacity and Death

Most people don't like to think about their own incapacity or their own death. However, the probability of disability increases with age, and death is inevitable. Planning for the possibility that you will become incapacitated can help protect your living standards during such an event. This planning can also help you ensure that the person making your decisions is the person who you would really want making those decisions. It [...]

October 23rd, 2014|

What is a Trust?

"What is a Trust?" is one of the most fundamental questions we want to answer for our clients. A trust is a legal relationship created when one entity, called the trustee, is given legal ownership of assets, and is also made responsible for managing and using those assets for the benefit of other entities, called the beneficiaries. As estate planners, we use Trusts for many different purposes; in fact it [...]

October 22nd, 2014|

Estate Planning – The Big Picture, but Critically Important, Issues.

This week, National Estate Planning Awareness Week, we'd like to take the opportunity to share information with you regarding estate planning. We provide individualized counsel and guidance in the estate planning process. As part of this process, we initially consider and discuss the following big picture, but critically important, issues: Information about the family. This discussion would include any special considerations, such as family make-up (single, married, traditional family, non-traditional [...]

October 21st, 2014|

National Estate Planning Awareness Week – October 20-25, 2014

During the third week of October every year, we recognize National Estate Planning Awareness Week. This is an ideal time for you to revisit your estate plan or make an appointment to create one. At Morgan and DiSalvo, we encourage all adults to protect themselves, their assets and their loved ones through estate planning. While it is essential to have an estate plan in place, it is equally vital to [...]

October 20th, 2014|

Morgan and DiSalvo, P.C., Encourages a Review of Estate Plans as Part of National Estate Planning Awareness Week, October 20-26, 2014

Estate Planning Attorneys Morgan and DiSalvo, P.C., encourage all adults to protect themselves, their assets and their loved ones through estate planning. National Estate Planning Awareness Week, the third week in October annually, is an ideal time to revisit your estate plan or make an appointment to create one. This year’s National Estate Planning Awareness Week is October 20-26. Estate planning offers control over what happens if one becomes incapacitated [...]

October 17th, 2014|

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