Estate Planning & Elder Law Blog - Page 7: Murphy & Berglund

Parents walking with a baby in a blue outfit, highlighting late-in-life parenting and family dynamics.

Estate Planning and Retirement Considerations for Late-in-Life Parents

Older parents are becoming more common, driven in part by changing cultural mores and advances in infertility treatment. But later-in-life parents have some special estate planning and retirement considerations.

Family portrait of a soldier in military uniform with spouse and daughter, symbolizing support and eligibility for VA benefits for families.

When Can You Claim VA Benefits For A Spouse?

If A Spouse Is Ill But A Veteran Isn't, Can A Couple Still Get VA benefits for Long-Term Care Expenses? While the veteran is alive, the claim is the veteran’s. In cases where the Veteran is over 65 and healthy, but the Veteran’s Spouse is ill, the best that the couple can qualify for is the base pension amount.

Mother kissing her smiling son in a wheelchair, showcasing love and care for a disabled loved one, reflecting themes of family support and financial planning for special needs.

How to Save for a Disabled Loved One

Planning ahead financially for a family member with special needs can be difficult. As an adult with special needs, if you have more than $2,000 in savings, you can potentially lose out on Supplemental Security Income (SSI) benefits and Medicaid. We know this is not a lot of money, so let us share some ways you can save for your disabled loved one while protecting their future eligibility for benefits.

Person reviewing a Debt Consolidation Loan application form, emphasizing financial planning and debt management strategies.

Getting Out of Debt in 2018

Individuals who resolve to get out of debt in 2018 will likely find that putting the resolution into action can be overwhelming. We completely understand the difficulty, as getting out of debt is easier said than done. You might have questions such as: “Where do I start? What resources are available to me? Who do I consult?”

Open calendar on wooden desk, showing December dates, relevant to annual tax law discussions and estate planning timelines.

How Will the New Tax Law Affect You?

While most of the new tax law has to do with reducing the corporate tax rate from 35 percent to 21 percent, some provisions relate to individual taxpayers, including changes to the estate tax and 529 accounts.