The transfer of real estate to a family member by gift means they take your tax basis in the property which can lead to a big capital gains tax liability later for the person receiving the property.
All of a sudden we find ourselves to be the “elder” generation – the house where people come to celebrate holidays.
Sometimes we get asked our opinion about do-it-yourself documents, the kind you can buy at an office supply store or online and fill them out yourself. Here’s our answer. They might suit your purpose just fine, but they might not. The problem is, no one will know how well your documents work until it’s too late.
When your loved one is in a nursing home receiving rehab, and is unable to return home, you are in an excellent position to ensure your loved one can stay in the facility, even if the facility states they are not accepting Medicaid patients, or they don’t have a long term bed, or you don’t have enough financial resources to stay. Medicaid discrimination is illegal.
Is Prince Charles III the sole heir of Queen Elizabeth’s fortune?
With me on one side, and my daughter on her other, my mother died. The intensity of this moment will stay with me forever.
On Aug. 16, 2022, the Food and Drug Administration (FDA) published its final rule establishing a new over-the-counter (OTC) hearing aids category.
Well-meaning, generous parents can create capital gains tax problems by making certain types of gifts
Assisted living operators would need to meet new requirements before evicting residents under legislation passed Monday by the Virginia General Assembly. The bill has been sent to Gov. Glenn Youngkin (R) for his signature.
A new study explores how specialized care providers can navigate conversations about end-of-life care and help patients optimize their quality of life and mitigate suffering.
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Legal and fiduciary services offered through Robyn Smith Ellis PLC. Investment advice offered through Ellis Financial Group LLC, A Registered Investment Advisor in the Commonwealth of Virginia. Insurance products offered through Ellis Insurance Services LLC.
