By: Martin S. Shenkman and Sandra D. Glazier[1] This article was originally published in Leimberg Information Services, Inc. (LISI). In 1786 Robert Burns wrote his insightful poem commonly referred to as “Mousie”. In it he reflects that upon plowing his fields he undoes the foresight of mice who unfortunately built their nest in Burns’…
reprinted with permission from wealthmanagement.com http://www.wealthmanagement.com/estate-planning/having-tough-client-conversations-about-health-issues Every estate and financial planner must ask and discuss tough issues with clients. One of the toughest centers around the client’s health. Without an understanding about health the client and/or a family member faces, proper planning isn’t possible. The impact health issues might have on the client’s finances, life…
President Trump has proposed a repeal of the estate tax, and the possible enactment of a capital gains tax on death. There are many potential variations to how these proposals, when first suggested, might play out. This program reviews many of those possibilities and practical estate planning steps wealthy taxpayers should consider in light of…
Explanation: The following is a sample letter for a physician to provide to a patient/taxpayer to use as support for claiming a home medical improvement expense deduction. The illustration uses multiple sclerosis as an example and provides indications in brackets of the type of information to add to a particular letter. Obviously, the entirety of…
Dear Colleague/Friend: Every spring and summer for the past seven years, my wife Patti and I, accompanied by our adorable therapy dog Elvis, spend 2+ months traveling the country in our Airstream, lecturing to professional advisors on how to better advise clients living with chronic disease and other health challenges. Patti was diagnosed 11 years…
“Assisted suicide.” While the phrase itself may evoke strong emotions on each side of the issue, it is important that everyone affected (whether because you or a loved one face a terminal illness, or as a physician or estate planner you are advising patients or clients as to end of life decisions) be aware of…
Introduction I was recently asked by the Pulmonary Hypertension Association to present a webinar on estate and financial planning for those living with pulmonary hypertension or “PH.” This article reflects the reading and discussions on a disease I had previously no knowledge of so that I could create a power point and webinar for…
Introduction Estate, financial and related planning must always be tailored to reflect each person’s unique circumstances, needs, goals and objectives. If you or a loved one have been diagnosed with Rheumatoid Arthritis (“RA”) you planning should be tailored to address the challenges you may now have, or face in the future. RA, like many chronic…
Introduction Estate planning is rapidly moving away from the historical focus on bypass trusts and saving estate taxes. While many professionals have rightfully focused considerable attention on income tax considerations, there is more involved. The shift in focus is due to far more than changing tax laws. Everyone, clients and professional advisers alike, will…
Many people facing the challenges of Parkinson’s disease, multiple sclerosis, or any one of a myriad of other chronic illnesses may need to cut back on work or retire early because of increasing health challenges. What are some of the financial steps you might consider before formally giving notice: 1. Do not stop work if…