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Category: Estate Planning

9/27/2011

Tramatic Brain Injury and the VA

It seems that almost every Huntsville, Alabama resident knows a veteran. After all,Redstone Arsenal has been a steadfast part of the North Alabama and Huntsville Community for 70 years! Unfortunately, many of these veterans are returning home with disabilities. One of the most significant disabilities is Traumatic Brain Injury or "TBI". More and more veterans are returning home with TBI and some don't even know it until much later in life.

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7/12/2011

Alabama Taxes: Good News for the Elderly in Alabama

It is not breaking news to the elderly and senior citizens in Huntsville, Decatur, and the rest of North Alabama, that Alabama can be a great place to retire. But a new San Francisco Chronicle article rates Alabama as the 5th least taxed state for retirees! According to the article, Social Security benefits, military benefits, and public and private defined-benefit pensions are all excluded from state income tax. On top of that, "Alabama has some of the lowest property taxes in the U.S, but further...homeowners 65 and older are exempt from state property taxes." As another benefit to the Alabama retirees and elderly, prescription drugs are not taxed at all.

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5/20/2011

Doug Martinson, II Attends National Academy of Elder Law Attorneys Annual Conference

(LAS VEGAS, NEVADA) -- One of only two attorneys representing the state of Alabama, Doug Martinson, II of Martinson & Beason, P.C. recently attended the National Academy of Elder Law Attorneys annual conference - The Elder and Special Needs Law National Conference. This year, the conference took place at the Wynn Hotel in Las Vegas from May 19th through May 21st. The conference focused on guardianship, protection of assets, and the ethics of Medicaid planning. However, speakers covered a range of other topics including: capacity, veterans' benefits, federal estate tax law, heath care reform for persons with disabilities, tax primer for elder law attorneys, sexuality and aging, and practice management tips, amongst others.

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5/4/2011

Probate in Alabama: NOT COMPLICATED

Don't be intimidated, probating an estate in Alabama is not as complicated as advertised by many. In fact, it can be done quickly and cheaply with the right estate plan - and the right attorneys. Avoiding probate in Alabama can be beneficial, but more times than not, going through the probate court to administer an estate is necessary. There are a number of reasons for this including: • Transferring title to land to your heirs • Transferring assets to heirs, beneficiaries • Accessing bank accounts of the decedent

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4/12/2011

Alabama Not Alone Dealing with Elder Abuse

Elder abuse in Alabama is not breaking news. As has been documented by several organizations, this issue is growing throughout the state. In fact, this isn't the first time we have brought attention to this growing problem. But, what is rare is to get video evidence of elder abuse. In the Pennsylvania assisted living facility, three workers are being charged with aggravated assault and negligence among other things for the way that they treated a 78 year old resident. We can only assume that it is a matter of time before a civil suit is filed.

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3/25/2011

Feeling the Tax Squeeze: Estate Gifting

Huntsville residents, North Alabama residents, and residents throughout the State of Alabama will likely be affected by large state deficits. In Jefferson County, employees are awaiting the effect of tax changes. There are Alabama tax lawyers getting ready to go to trial over the Alabama property tax system. And this large deficit is event causing squeezes to Alabama educators. It appears that every person, in every county, in every state throughout this country is feeling the squeeze. During these times, it can be really hard to think about estate planning, but effective estate planning can make your loved ones' transition that much easier as well as allowing your money to go who YOU want it to, and not the IRS.

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