Blog

 

Charitable Gift Annuities

A charitable gift annuity (CGA) is a contract between you and your designated charity.  For some clients, the CGA can increase retirement income while also supporting a favorite charity.  Simply, you make an irrevocable gift of cash or stock to the charity, and in return, the charity makes regular fixed payments, often at fairly attractive…

read more
Proposed Changes to SSI Asset Test

On March 24, 2010 the SSI Savers Act of 2010 (H.R. 4937) was introduced to reform the asset test in the Supplemental Security Income (SSI) program.  SSI provides monthly cash payments to people with disabilities, among others.  Currently, to be eligible for SSI, the applicant must have assets of $2,000 or less ($3,000 or less…

read more
Retirement Communities

Is your retirement community secure?  Follow this link to an interesting Wall Street Journal Article:    http://www.washingtonpost.com/wp-dyn/content/article/2010/04/03/AR2010040305010.html

read more
Durable Powers of Attorney for Health Care and Property Pending Legislation

HB6477, which is making its way through the General Assembly, makes numerous substantive changes to the Illinois Durable Power of Attorney Act.  Among them, provisions relating to an agent’s record keeping and disclosures, and remedies when agents abuse his or her duties.  In addition, more and more institutions require a certification that the document is in effect.…

read more
Tenants by the Entirety Pending Legislation

Tenants by the entirety is a form of ownership available to spouses on their primary residence.  Holding title as tenants by the entirety provides spouses greater creditor protection for their home.  This creditor protection is lost when spouses convey their primary residence into revocable living trusts for estate planning purposes.  HB5282, if passed, would continue…

read more
No Federal Estate Tax for Decedents dying in 2010

As of January 1, 2010, there is no federal estate tax for decedents dying in 2010. Congress could reinstate the federal estate tax retroactively in 2010, perhaps as part of broader tax reform, or take no action, in which case the federal estate tax will be reinstated in 2011 but with a reduced exemption of…

read more