Every 4 years, a change in our Presidential elections results in a flurry of literature, workshops, and newsletters regarding potential changes in income and estate tax laws. This year was no exception, as the significant increase in the federal deficit resulting from costs associated with COVID-19 has placed more pressure on tax increases, including potential tax increases in the estate planning realm. The federal exemption amount, which is $11.7 million as of January 1, 2021, will, under the current law, decrease to about $6.7 million in 2026. Many believe that this decrease in the coupon will occur earlier or may even go down below the $6.7M returning to the former $3.5M. All of this is speculation at this point, but we must be prepared to act quickly, as some of these tax law changes may act retroactively.Read More
Every year, at the start of the year, many of us make New Year’s resolutions. We think about the things we want to be different in our lives, and we resolve that we’re going to change them. For some of us, this actually results in life changes every year. For most of us, we have the best of intentions, but life gets busy, or challenges come up, and by February our resolutions are a thing of the past. Personally, I’m resolving to make more time for creativity in 2021—dust off my keyboard, do some more crafts and artwork with my kids. You can ask me in a few weeks what we’ve created, and we’ll see how it goes. I’m pretty sure my 1st grader and preschooler are resolving to find a way to get me to bake more cookies in 2021.Read More
What a year it has been!
We all know that it’s been a crazy year navigating a global pandemic and keeping our family safe, but it’s also been an extraordinary year when it comes to estate tax, estate planning and changes in the law.Read More
By: Scott Maibor, CFE
This week, here at Family Estate Planning Law Group we are excited to have Scott Maibor, of Senior Benefits Boston, guest blogging for us. We know many of our families have questions about Medicare coverage, and we think Scott has some great experience and expertise to share with you.
After 12 years in the Insurance Industry Scott founded Senior Benefits Boston to help clients with their Medicare health insurance needs. He enjoys simplifying an overly complex system with the goal of maximizing coverage and reducing costs.
In 2017 Scott decided to focus exclusively on Medicare and on helping clients approaching eligibility age. He is a Certified Financial Educator and Medicare (AHiP) Certified for 2021. As an independent Advisor he works with multiple carriers to enable him to serve as a fiduciary for his clients.Read More
It’s no surprise that many seniors would much prefer living in their own homes as opposed to facility care. Family members who fully understand the benefits associated with aging in place—a sense of independence, better health outcomes, and the comfort home can provide—may consider an in-home caregiver for their elderly loved one. Check out our recent infographic and see some tips on how to choose the right caregiver for your loved one.Read More