November, 2012

What?! – I Can’t Amend My Irrevocable Trust?

I can’t tell you how many times I have heard this question, usually years after the irrevocable trust was signed: “You mean I can’t change the trust?” The short answer to the question is “No, an irrevocable trust is, by its terms, irrevocable and cannot be changed”. The long answer is… well, first some basics. […]

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Special Tax Alert

Well, the results are in.  President Obama has been re-elected.  The Democrats have won the Senate.  The Republicans have won the house.  No party can claim a mandate. What does this mean for us?  From the standpoint of estate and gift taxes, it means a lot.  Currently, each individual has a $5,120,000 exemption from the federal estate […]

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Government Sets Obstacle for the Disabled

Earlier this year, the Social Security Administration released a substantial revision to its Program Operations Manual System (POMS) which has a dramatic impact upon those who are classified as disabled and receive needs based government benefits such as Supplemental Security Income (SSI), Medicaid and Section 8 Housing.  Specifically, POMS SI 01120.201 has been modified to […]

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