ELDER LAW

Not only does The Tax Law Practice, LLC provide information regarding property law, estates & trusts, and creditor law; it also provides very important tax advise surrounding various transactions. It is imperative that the professional that you choose to work with understands the tax law. Almost all transactions and planning in this area have tax implications that may cost you thousands.

Many clients have often asked whether their assets were fully protected from creditors when dealing with Title XIX (Medicaid) issues. Did you know that when you or your parents find it necessary to seek assistance for nursing homes and the like, the majority of your assets are spent down before qualifying for assistance? Furthermore, although the Federal Law trumps in this area, in some cases the State of Connecticut is acting under it’s own laws without regard to Federal Law. It clearly makes sense to prepare for that event since more and more elderly individuals are realizing the realty of losing everything you worked so hard for is a practical scenario.