Tina Gil, Angela Montogmery, David Reich, Erin Vogt
January and February 2018
Make Sure to Have a Say in Your Future
No one likes to think about not having the ability to make healthcare or financial decisions due to illness, disability or death. However, it can and does happen. Why not have a say in your own future and plan now rather than waiting for a crisis and having others make critical decisions for you?
We can assist you with your estate planning matters. Our attorneys work closely with our clients to develop a plan that addresses all planning issues, from the financial to the personal; a plan that is custom, yet flexible, and a plan that is both easy for our clients to understand and for their loved ones to administer.
The Tax Cut and Jobs Act (TCJA) is now officially law. Both the House and Senate passed the new tax reform bill in December with straight party-line votes and no support from Democrats. President Trump signed it into law right before Christmas. It is the first overhaul of the tax code in more than 30 years.
Click here to read an article written by Attorney Janna Dutton.
Even Gifts Allowed by the Internal Revenue Service (IRS) Are Subject to a Penalty for Medicaid
With the increase in 2018 of the amount that the IRS will allow a person to gift free from gift tax reporting, from $14,000 per person to $15,000 per person, per tax year, there is greater opportunity for tax-free gifting. This is the first increase in the tax-free annual gift limitation in five years. As a result, any person who gives away $15,000 or less annually to any one individual does not have to report the gift or gifts to the IRS.
Creating Communities Which Support People Living with Dementia
Dementia Friends Illinois, sponsored by the Rush Alzheimer's Disease Center, encourages each of us to consider what it means to live with Alzheimer's and what we might be able to do to help. Even though these steps are small they can have a lasting impact.
Click here to read more.