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Philadelphia PA Estate Planning Blog

Thursday, July 26, 2012

A Few Words from Jeremy

Every year, I attend the annual Pennsylvania Elder Law Institute for two days in Harrisburg. It's just one of the many ways I keep up to date on the current laws, policies and best practices in the field.

 

Elder law and estate law are fluid areas of law that are constantly changing. One year, there could be a major tax change. The next, there could be more stringent requirements to qualify for Medicaid if you need to enter a nursing home.

 

It's my opinion that the "new estate planning" is really long-term care planning, not tax planning. People are living longer and need some form of long-term care. Fewer insurance companies are offering affordable long-term care insurance. So, where does that leave seniors who enter a nursing home and want to preserve part of their estate for their family? This question is precisely the reason I'm continuing to see more clients who want help shielding some of their assets against nursing home costs.

 

Yes, it can be done.

 

Now, that's not to say that tax-planning concerns have gone by the wayside. In the last few years, middle class families have been lucky because the federal estate tax has been basically non-existent. But, we seem to be hearing a lot about a "fiscal cliff" on the way. Part of the cliff is that estate taxes will again become relevant for many more people if Congress doesn't act before 12/31/12.

 

I am following this matter and other important developments very closely. I will continue to make sure my clients are kept up to date with any news regarding estate or elder law.

 

I hope you find this newsletter helpful. I appreciate any feedback you have, and also invite you to forward this to your friends or family that may have an interest.

 

In our feature article this month, I discuss five steps you can take right now to improve your estate plan. I hope you find it informative and helpful.

 

Thanks again for reading, and see you next month.

Jeremy


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The Law Offices of Jeremy A. Wechsler assist clients with Estate Planning matters in Willow Grove, PA as well as Abington, Hatboro, Dresher, Horsham, Bryn Athyn, Huntingdon Valley, Fort Washington, Jenkintown, Glenside, Oreland, Warminister, Wyncote, Ambler, Elkins Park, Flourtown, Philadelphia, Warrington, Cheltenham, Gwynedd Valley, Jamison, Feasterville Trevose, Richboro, North Wales, Blue Bell, Lafayette Hill, King of Prussia, Collegeville, Oaks, Phoenixville, Oxford Valley, Langhorne, Penndel, Bristol, Fairless Hills, Bensalem, Plymouth Meeting, Furlong, Philadelphia County, Bucks County and Montgomery County.

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