If you have an estate plan, it is very important that you monitor the progress of President Obama’s latest budget. It could have major implications for your plan.
Now that President Obama has released the full details of his latest budget proposals and experts have had time to review them, details are emerging about some of the big changes that could be in store for wealthy families’ estate plans if the budget proposals pass.
Forbes has a complete rundown of the proposed changes in an article titled “Obama Budget Would Upend Estate Plans.”
While you will want to read the original article, here are some of the highlights:
President Obama has also proposed a whole host of other tax changes designed to force wealthy individuals to pay more in taxes. While not all of the President’s proposals will pass Congress, many of them might.
Consequently, it is very important that you pay attention to what these tax hikes might mean for your taxes and your estate plan. If the laws change, you may need to change your estate plan as soon as you possibly can.
Be sure to consult an experienced estate planning attorney sooner rather than later.
Reference: Forbes (February 5, 2015) “Obama Budget Would Upend Estate Plans.”
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.
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!
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.
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!
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!