In order to keep a community spouse from being impoverished when their partner enters a nursing home, federal laws allow the community spouse to keep a certain amount of assets and income. The amount of assets the community spouse is allowed to keep is termed the community spouse resource allowance (CSRA). The amount of income the community spouse is allowed to keep is called the minimum monthly maintenance needs allowance (MMMNA).
Spousal Support Order Deemed Improper
By Jill Roamer, JD, CIPP/US on Jan 20, 2023 12:56:00 PM
Strategies for the 2023 Increase in Estate and Gift Tax Exclusion Amounts
By WealthCounsel Staff on Jan 20, 2023 10:00:00 AM
Rising inflation has led the US government to increase the estate and gift tax exclusion amounts for 2023. This is a perfect time for estate planning attorneys to talk to their clients about taking advantage of innovative strategies, while keeping an eye on larger changes that are coming at the end of 2025. Keep reading to learn the new amounts and ideas to help your clients.
Current Developments in Estate Planning and Business Law: January 2023
By WealthCounsel Staff on Jan 13, 2023 10:00:00 AM
From the enactment of the SECURE 2.0 Act to the issuance of a proposed rule on access to beneficial ownership information under the Corporate Transparency Act, we have recently seen significant developments in estate planning and business law. To ensure that you stay abreast of these legal changes, we have highlighted some noteworthy developments and analyzed how they may impact your estate planning and business law practice.