Category: Uncategorized

New York Estate Tax Law Changes

Author: Legal Sweeney April 11, 2014 In Uncategorized Comments (0)
NY used to be a very expensive place to die.  As of March 31, less so. The federal law allowed you to pass $5.25M tax free.  NY was only at $1M.  NY topped that off with estate tax rates that […]
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Do I use a Trust or a Will to Settle My Estate

Author: Legal Sweeney April 9, 2014 In Uncategorized Comments (0)
Wills vs Trusts In general, Wills are usually easy and cheaper up front, but more effort and expense later on, while Trusts (also know as Revocable Living Trusts or RLT) are more work up front, more expense up front, and […]
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Increasing Your Social Security Payments with Delayed Filing

Author: Legal Sweeney April 7, 2014 In Uncategorized Comments (0)
You can boost your annual Social Security benefit through a fancy strategy often referred to as delayed filing. Your Social Security Benefits are calculated using a formula called the primary insurance amount, or PIA. The way it works is that […]
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Medicare Can Now Pay For Care to Prevent Deterioration

Author: Legal Sweeney March 25, 2014 In Uncategorized Comments (0)
In the past, it has been Medicare’s position that patients will be denied coverage for therapy services because they are not improving. Fortunately, in January, they changed the rule to eliminate any requirement that improvement is necessary to receive coverage […]
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The Jig is up on Offshore Accounts

Author: Legal Sweeney March 25, 2014 In Uncategorized Comments (0)
I’ve had clients who hid money offshore and didn’t pay tax on it.  They were evading taxes on purpose.  I didn’t like those guys and dropped them as clients. However, most of my clients have had “inadvertent” issues. Let’s see […]
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Medicaid Privatizing Care

Author: Legal Sweeney March 7, 2014 In Uncategorized Comments (0)
The states pay a portion of all Medicaid costs.  Medicaid is the program that pays for nursing homes when you can’t because you don’t have the money.  (The other program is Medicare (confusing isn’t it) which pays for your medical expenses over […]
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White House Tax Proposal in the FY 2015 Budget Proposal

Author: Legal Sweeney March 5, 2014 In Uncategorized Comments (0)
Another Tax Proposal which is dead on arrival came from the White House yesterday. It was contained in the White House FY 2015 budget proposal.  It includes tax increases  targeting multinational corporations and high-income individuals.  These tax increases are used […]
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Do I Have to Pay For Mom’s Nursing Home Costs?

Author: Legal Sweeney March 4, 2014 In Uncategorized Comments (0)
Surprisingly, the answer is, maybe. The first big eye opener is that CT has law which makes children responsible for their parent’s care, until the parent reaches age 65.  CGS Sec. 53-304.  Not only can they make you pay, they […]
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Medicare, Hospitals and Observation Status

Author: Legal Sweeney March 4, 2014 In Uncategorized Comments (0)
Follow the Money, Follow the Money… Medicare Bingo Yes, it is a cat and mouse game where the hospitals try to get as much money from the government as possible….to the detriment of the patient. This one is a classic […]
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New Tax Proposal 2-14

Author: Legal Sweeney February 28, 2014 In Uncategorized Comments (0)
Two days ago the Republican chairman of the House Ways and Means Committee Dave Camp put out a new tax proposal. Frankly, I skimmed through it, but didn’t pay much attention. Even the Republican side of the house could not agree […]
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