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Going to college – do you have your legal docs in a row?

Going to college – do you have your legal docs in a row?

For several years we have added to our summer blog a reminder about getting legal documents ready for college.  This year our firm has two employees and children of two others graduating from high school (and one from college!) Congratulations Brantley, Caroline, Elizabeth, Lawson and Morgan!  While this year’s graduation…

CMS Announces Spousal Allowance Amounts unchanged for 2016

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

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…