Estate Planning and 2014: Looking Back, Elder Law Attorney, Woodstock, GA

Every year has new developments in estate planning. 2014 was no different in this regard. Some of the changes to estate planning in 2014 are very important to know about.

With 2014 just behind us, now is a good time to look back and see what changed in estate planning during the year. After all, the only true constant in life is change itself.

While the changes might not affect everyone, they are important enough for you to determine whether they impact your estate plan.

Recently, the Wills, Trusts & Estates Prof Blog published a list of the most important estate planning developments of the year in an article titled “2014 Estate Planning Developments.”

The list includes:

Final IRS regulations that describe the circumstances that trusts’ and estates’ costs might be deductible without being limited by the AGI floor.
A court decision limiting tax free rollovers to one per year, not one per IRA.
A court decision that a trust can and did materially participate in a real estate business.
A court decision that inherited IRAs are not retirement funds for the purposes of bankruptcy protection.

If you think that one or more of these developments might affect your estate plan, be sure to consult an experienced estate planning attorney early in the New Year. It is important to change your estate plan without delay or risk falling prey to procrastination.

Reference: Wills, Trusts & Estates Prof Blog (December 25, 2014) “2014 Estate Planning Developments“

Hear From Our Clients

I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce

Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!

- Marcia

I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!

- Ben