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IRS Raising Annual Gift Tax and Estate Tax Exclusions in 2024

In an effort to keep up with inflation, the Internal Revenue Service (IRS) has announced adjustments to the annual gift tax and estate tax exclusions for the year 2024. These changes are a reflection of the evolving economic landscape and aim to ensure that taxpayers are aware of their obligations and entitlements.

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Cheers to a Bright and Successful Year Ahead!

As the clock strikes twelve, a brand new year Hope fills the air, banishing all fear. The past is behind us, a chapter now closed A fresh canvas awaits, where dreams are composed.

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Have yourself a very Merry Christmas!

In the frosty air, a joyous tune Christmas spirit begins to bloom. Lights twinkle, casting a magical glow As snowflakes dance, gently falling below.

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A Gift For Your Children (2023)

During the holiday season, families worldwide engage in the tradition of giving gifts to express their love and appreciation for one another. As parents, we strive to find the perfect presents for our children, and kids eagerly await the moment they can unwrap the surprises waiting for them under the Christmas tree. But as we all know, some of the most valuable gifts in life cannot be purchased from a store.

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How does the Sandwich Generation Plan for The Future? (Part 2)

It’s an excellent idea to consult your attorney about legal documents if a sudden financial or medical decision presents itself. You need to have the legal power to make important decisions for your aging parents and minor children.

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How does the Sandwich Generation Plan for The Future?

Anyone experiencing the struggle of simultaneously caring for children and aging parents is part of the sandwich generation. Although "generation" is part of the phrase, it doesn’t refer to people born at a specific time. Typically, these family caregivers will be in the 30- to 40-year-old age range, providing for their families and balancing care duties between the needs of children and parents.

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What Will Your 2024 Social Security Benefits Look Like?

In 2023, recipients of Social Security benefits saw the biggest increase in decades in their monthly checks. Although their payouts will indeed rise again in 2024, the cost-of-living adjustment (COLA) will be more modest – just 3.2 percent, versus the nearly 9 percent boost in 2023.

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What Does Incapacitated Mean in Elder Law & Estate Planning? (Part3)

Estate planning is often associated with distributing assets after one's passing. However, it is equally important to consider the possibility of incapacity during our lifetime. Incapacity can strike unexpectedly due to illness, injury, or advanced age, making it crucial to have a comprehensive estate plan in place. In this article, we will explore the importance of planning for incapacity as part of your overall estate planning strategy.

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What Does Incapacitated Mean in Elder Law & Estate Planning? (Part2)

Elder law involves preparing for and addressing incapacity associated with injury, illness, disability, or aging. It is essential to understand the concept of incapacity applies to power of attorneys, wills and estate planning, and guardianship of an adult.

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What Does Incapacitated Mean in Elder Law & Estate Planning?

When working with an attorney to prepare for your future and address the challenges associated with aging, you will likely come across the term "incapacitated."

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