The 2016 Community Spouse Resource Allowance will remain at $119,200 (maximum) and $23,844 (minimum), as recently reported by the Centers for Medicare and Medicaid Services (CMS). In addition, the spousal monthly maintenance needs allowance will remain $2,980.50 a month. For medicaid eligibility, the income cap is projected to remain at $2,199.…
2016 Estate and Gift Tax Exemption increases from $5.43 to $5.45 million per person
The estate and gift tax exemption for 2016 is increased to $5.45 million per individual– increased from $5.43 million in 2015. With the exemption, a US citizen is able $5.45 million to heirs and pay no federal estate or gift tax. A married couple may combine the exemptions to protect…
Do You Have Unclaimed Property?
According to the National Association of Unclaimed Property Administrators, states are holding approximately $41.7 billion in unclaimed assets, including dormant bank accounts, stock splits, life insurance payouts, gift cards and un-cashed payroll checks among other funds. Have you searched your own name to see if you have unclaimed property? For…
Executors 101
An executor is named in a Will to manage the decedent’s affairs upon the decedent’s death. Before naming an executor or agreeing to serve in the role of an executor, there are a few things to you should know. An executor is given the responsibility of ensuring that a decedent’s…
StoneMyers Law to become StoneMyers Law PLLC
StoneMyers Law will become StoneMyers Law PLLC effective January 1, 2015. Please make a note of the change.