The stepped-up basis is a provision in federal tax law that adjusts the value of an inherited asset for tax purposes. It means that the cost basis (the original purchase price) of the asset is increased to its fair market value … Read More »

The stepped-up basis is a provision in federal tax law that adjusts the value of an inherited asset for tax purposes. It means that the cost basis (the original purchase price) of the asset is increased to its fair market value … Read More »
One common misconception for those who have entered a nursing home is that the home must be sold before one can attain Medicaid eligibility. This is simply not true. … Read More »
Last month’s article discussed a Life Estate Deed and the pros & cons of this estate planning document. This month is related, but a discussion of a different estate planning document, the Transfer on Death Deed (TOD … Read More »
A parent routinely comes in and will say: “I want to put my house into my kids’ names while I’m alive to protect it and avoid probate, but I do not want them to be able to kick me out!” There are several options in Indiana, but a Life Estate Deed is one.… Read More »
While there are strategies to protect the home of those who are entering, or already in a nursing home, the focus of this article is on advanced Medicaid planning: for those who will not be needing nursing home care within the next 5 years. I will discuss crisis Medicaid planning techniques in a future series of articles.… Read More »