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Retirement can be an exciting new chapter in someone’s life, but it also may be stressful. The change of lifestyle and income source can lead to anxiety for many individuals reaching retirement.

Our elder law specific estate planning sometimes involves both a revocable and irrevocable medicaid asset protection trust to provide flexibility for the unknown future. One issue that comes up is when a client enters an assisted living facility is which trust can help pay the costs of the facility.

Question: My husband may soon need a Nursing Home. I have been told that if he needs to go to a Nursing Home, we will have to spend down all of our assets before he can be eligible for Medicaid benefits, is this true?

On March 21, 2020, the Internal Revenue Service (IRS) announced in IR -2020-58 that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. The IRS also announced that taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed.

Question: I have an IRA, and someone told me that once I reach a certain age that I have to take distributions from that IRA. Can you explain this to me?

Question: My aunt has nominated me as the Executor of her estate. Someone told me that I am entitled to payment for serving as Executor, is that true?

Question: I am 50 years old and my financial advisor has suggested a deferred annuity. What is a deferred annuity? What are the tax aspects?

Question: My mom recently came to live with me, can I get a copy of her medical records?

The new Setting Every Community Up for Retirement Enhancement (SECURE) Act, effective January 1, 2020, is the broadest piece of retirement legislation passed in thirteen years. The law focuses on retirement planning in three areas: modifying required minimum distribution (RMD) rules for retirement plans; expanding retirement plan access and increasing lifetime income options in retirement plans.

Question: I recently heard that the Secure Act passed and that it may affect how my retirement accounts. What changes should I expect and do I need to adjust my estate plan?