Sam, Mary’s son and agent under her power of attorney, didn’t bother to seek legal advice after Mary entered a nursing home. “She only has $60,000. There’s nothing we can do”, he told his sisters. Six months later, with her funds exhausted, Mary sought Medicaid to pay for her care. To Sam’s shock and dismay,
Direct and indirect changes create new and interesting life insurance planning opportunities. The Tax Cuts and Jobs Act was signed into law by President Trump on December 22, 2017. The Act brings direct changes to the tax treatment of insurance and significant indirect changes to planning with life insurance. These changes present new and interesting
Q: My son was disabled prior to age 18 and is now 39. He lives with us at home and draws Social Security benefits on his dad's work record. I will be 62 in June and have applied for early retirement. Will our son be able to draw from my work record as well?