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June
2010
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| In This
Issue |
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Elder
Law Center, P.C. |
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2111 Plum Street, Suite 201
Aurora,IL
60506
(630)844-0065
cbr@mickeywilson.com
http://www.elderlawpc.com/
Upcoming
Speaking Engagement:
July 14, "24th Annual Elder Rights
Conference" - Connie will present at this Illinois Department
on Aging conference
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Make Sure Your Life Insurance Is Not Taxed at Your Death
Although your life
insurance policy may pass to your heirs income tax-free, it can
affect your estate tax. If you are the owner of the insurance
policy, it will become a part of your taxable estate when you die.
You should make sure your policy won't have an impact on your
estate's tax liability.
Investigative Report Questions Five-Star Rating System for
Nursing Homes
How reliable are the
ratings given nursing homes under the five-star rating system that
the federal government recently instituted? Not very, according to
an investigative report by a Massachusetts magazine.
How Risky Is Buying a Limited-Duration Long-Term Care
Insurance Policy?
More consumers are
buying shorter-duration policies as a way to keep the cost of
long-term care insurance affordable. For example, in 2009 almost
one-third of individual buyers purchased a three-year benefit period
policy, according to an industry trade group. But is that sufficient
coverage or is the policyholder likely to run out of benefit
dollars?
Getting Social Security While Living Overseas
Retirees who decide to
move to another country are still entitled to Social Security
benefits. Once a retiree has been outside the country for 30 days in
a row, he or she is considered outside the United States and the
rules for collecting benefits apply.
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| Disclaimer:
The information contained in this newsletter is not intended
as legal advice and should not be relied upon to answer any
specific questions concerning your own circumstances or for
purposes of legal planning. For specific legal advice, please
contact our offices. |
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