Estate Planning, Ethical Wills, and Holiday Gatherings
While visiting loved ones this holiday season, take the time to address two important parts of your family’s future: estate planning and ethical wills.
After staying the same for five years, the amount you can give away to any one individual in a particular year without reporting the gift will increase in 2018. Very few taxpayers will have to pay a gift tax in any case.
You may be afraid of losing your home if you have to enter a nursing home and apply for Medicaid. While this fear is well-founded, transferring the home to your children is usually not the best way to protect it.