BLOG FOR JOHN SWEENEY - ELDER, WILLS, ESTATES, TRUSTS, SPECIAL NEEDS, BUSINESS, & TAX LAWYER IN CT AND NY

Most people do not have a Will.  The older and wealthier you are, the more likely you are to have a Will.  The younger and less educated you are, the less likely.  A recent Gallup Poll detailed who has a Will and […]

There are some reasons it is better for working couples to stagger their retirement dates. The reasons are both financial and emotional. There are three main financial benefits. First, you normally can get more Social Security Benefits if one spouse […]

People who have both Medicaid and Medicare  should never be charged for healthcare, medical or other services covered under Medicaid or Medicare. While this billing is prohibited by law, many providers often still bill the senior.  If you have been […]

The answer is, surprisingly, yes, you can have taxes in your IRA. Normally, IRAs invest in stocks, bonds, mutual funds, and ETFs and receive interest, dividends and gains from these. Congress felt that non-taxable entities shouldn’t unfairly compete with taxable […]

Twelve million workers will pay more this year because of the automatic adjustment in their payroll taxes for the taxable maximum amount of Social Security.  The increase in 2017 is 7.3 percent, the most in 34 years. It can cost […]

Nursing homes are known for various nefarious practices such as getting a relative to unknowingly sign to become financially responsible on check in and forcing disputes into arbitration where the issues can be kept from the public eye and the […]

New regulations have been proposed by the IRS which would eliminate, or severely restrict, one of the primary tools estate planners have used to transfer family businesses and assets for estate tax purposes. The IRS is planning to eliminate or […]

The CT legislature just passed the Uniform Fiduciary Access to Digital Assets Act or HB 5606 and it should be signed into law soon. Essentially, it gives your executor, Attorney by Power, Trustee, or conservator the power to control your […]

The new Connecticut Uniform Power of Attorney Act was enacted last year (Public Act No. 15-240).  This legislation was a major update for Connecticut law bringing it up to date for powers of attorney. Essentially, the form is much more […]

Many states have enacted the legislation for ABLE accounts including NY and CT and the federal legislation is in place too.  However, as of 4-16 no state has the account operational so you can’t open one. In addition, Congress changed […]