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Year-end tax planning: COVID-19 has tweaked some approaches
- Gina M. Barry, Esq • December, 2020
- The holiday season has begun. As you sit down for your holiday dinner, remember that soon Uncle Sam will be visiting you to enjoy his share of your bounty. Despite the hustle and bustle of the holidays, the savvy taxpayer will make room in their overstuffed holiday calendar to complete year-end tax planning. Of course, it would be best to take steps to minimize taxes all year, but if you have failed to do so, there are still some options that can be utilized before year-end…..
The special needs trust: Why it’s important to plan ahead
- Gina M. Barry, Esq • November, 2020
- Many people in the United States are currently considered disabled as defined by Social Security. Their disability may entitle them to receive various benefits that are provided by the federal and state government. Some of these benefits, such as Medicaid, Supplemental Security Income (“SSI”), food stamps (“SNAP”), housing or fuel assistance, may only be available to the disabled person if they meet eligibility requirements that require the disabled person to have income or assets less than a certain amount…..
Charitable giving: You can still do good in a time of uncertainty
- Gina M. Barry, Esq • October, 2020
- As the COVID19 pandemic continues, many are suffering, including the charitable entities that would normally rush to assist those who are in need. With nearly all inperson events being cancelled, charities have found themselves unable to connect with their donors in the usual ways, and they have been working hard to create meaningful alternatives…..
Will vs. Trust: Deciding which is right for your estate
- Gina M. Barry, Esq • September, 2020
- With the pandemic bearing down on our communities, more people are recognizing their own mortality, and with that, the desire to establish an estate plan has come to the fore. A common decision you will face when planning your estate is whether to establish a Will or a Revocable Trust. Both Wills and Revocable Trusts are devices that provide for the distribution of your estate upon your death…..
Good grief: Plan now to lessen the burden on loved ones
- Gina M. Barry, Esq • August, 2020
- Imagine if you were to pass away today. Your loved ones would be devastated, but would, nonetheless, be called upon to tend to your final affairs – arranging your funeral, managing your final debts, and possibly even having to probate your estate…..
Caregiver stress: Could this become the next epidemic?
- Gina M. Barry, Esq • June, 2020
- Approximately 44 million Americans (21 percent of the adult population) provide unpaid care in their home. In fact, the U.S. Department of Health and Human Services estimates that informal caregivers provide 80 percent of the long-term care in the United States. A caregiver is anyone who helps another person in need with daily tasks, such as bathing, cooking, eating, taking medications, dressing, using the bathroom, shopping and house cleaning…..
A Pandemic Estate Plan
- Gina M. Barry, Esq • April 13, 2020
- COVID-19, also known as the novel coronavirus, has arrived in our communities. While statistics show that many people will survive being infected, they may experience incapacity due to significant symptoms, such as breathing difficulties and fever, and, for some, the infection will be fatal…..
For the love of your partner include these documents in your estate
- Gina M. Barry, Esq • February 1, 2020
- Recently, many committed couples are choosing not to get married, especially if one or both have been previously divorced or widowed. Although unmarried, these couples present themselves as a married couple. They live together and own property and other assets together. They share debts. They may have children. While this arrangement allows them to live in bliss while each partner is alive and well, difficulties arise when one of the partners loses their competency or passes away…..
Your estate plan: January’s a great time for an annual review
- Gina M. Barry, Esq • January 1, 2020
- Happy New Year! It’s time to make your New Year’s resolutions. Reviewing your estate plan is a simple resolution to keep that ensures your estate plan remains current and consistent with your wishes…..