The New Tax Law Means It’s Time Review Your Estate Plan

While the new tax law doubles the federal estate tax exemption, meaning the vast majority of estates will not have to pay any federal estate tax, it doesn't mean you should ignore its impact on your estate plan.

Promissory Notes and Medicaid

A promissory note is normally given in return for a loan. Classifying transfers as loans rather than gifts can be useful because it sometimes allows parents to "lend" assets to their children and still maintain Medicaid eligibility.

Handsome veteran soldier reunited with family on a sunny day

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. 
Big sister kissing disabled little brother on cheek

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.
Getting out of debt 2018 murphy berglund 2

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?”
HOW WILL THE NEW TAX LAW AFFECT YOU

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.

Documentary Stamp Tax Pitfalls Murphy Berglund 1

Documentary Stamp Tax Pitfalls

One of the questions we're frequently asked is, “Should I add my new spouse to the deed of my house?”  Before deciding whether to do so, you must understand the legal and documentary stamp tax implications of the “gift." You may ask yourself - “What on earth is a documentary stamp tax?”
end of year charitable giving murphy berglund pllc

End of Year Charitable Giving

‘Tis the season for giving - especially for end of year charitable giving. In fact, one third of all charitable giving occurs in December, with the final three days of the year accounting for a whopping 12% of the entire year’s total.
YOU CAN GIVE AWAY MORE TAX FREE IN 2018

You Can Give Away More Tax Free in 2018

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.

adoption - Murphy and Berglund Attorneys at Law

Navigating Adoption In Florida

Navigating adoption in Florida can be confusing. At Murphy & Berglund, PLLC, we have helped parents adopt the most amazing children, and have represented children being adopted into a loving family.
Estate Planning Tips - Murphy & Berglund

Estate Planning Tips

An estate plan – especially a trust – can do more than just transfer ownership of certain assets to its beneficiaries. Here are some things that you might not have realized estate planning can do for you:
Disability Documents - Murphy & Berglund

Disability Documents

A huge part of making sure that your family is protected in the event of the unexpected involves having a proper estate plan in place.
breast cancer awareness legacy

Diagnosed with Breast Cancer? Preserve Your Legacy.

October is Breast Cancer Awareness Month, which is an annual movement to increase awareness of the disease. We are here to support the fighters, admire the survivors, honor the taken, but never, ever give up hope.