Endangered Species: Grantor Trusts?


A favorite estate planning transaction used by many sophisticated estate planning attorneys across the country involves the use of an “intentionally defective grantor trust” (IDGT).  The “grantor trust” rules of the Internal Revenue Code instruct that a grantor trust is not taxed as an entity separate from the grantor (the person creating the trust) and that […]
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Determining Residency for California Income Taxes


Many of our clients have residences in or spend a significant amount of time in both Nevada and California.  Although the state of Nevada has no income tax, the state of California taxes non-residents on any California taxable income and California residents on all income.  If individuals are not careful, they may be considered residents of California and therefore subject to […]
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2012 Medicaid and Medicare Amounts


  Medicare  and Medicaid Spousal Impoverishment Figures Maximum Community Spouse Resource Allowance $113,640.00 Minimum Community Spouse Resource Allowance $22,728.00 Maximum Monthly Maintenance Needs Allowance $2,841.00 Minimum Monthly Maintenance Needs Allowance $1,891.25 Medicaid Institutional Income Cap $2,094.00   Medicare Part A Hospital Deductible (Days 1-60) $1,156.00 Hospital Co-Insurance per day (Days 61-90) $289.00/day Hospital Co-Insurance per day […]
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