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Using a Roth IRA as an Estate Planning Tool

Lavelle & Finn


A Roth IRA does not have to be used as just a retirement plan; it can also be a way to transfer assets tax-free to the next generation.  Unlike a traditional IRA, contributions to a Roth IRA are taxed, which means that the distributions are tax-free. Also, unlike a traditional IRA, you are also not […]

Can My Family Inherit My Season Tickets?

Lavelle & Finn


Sports fans with season tickets may want their families to enjoy the tickets after they are gone, but passing on these tickets may not be simple.   Getting season tickets to your favorite sport is not always an easy task. Season tickets for some teams can cost a lot of money and require time on a […]

Why Small Business Owners Need an Estate Plan

Lavelle & Finn


Running a small business can keep you busy, but it should not keep you from creating an estate plan. Not having a plan in place can cause problems for your business and your family after you are gone.   While an estate plan is important for everyone, it is especially important for small business owners. […]

5 Rights That Trust Beneficiaries Have

Lavelle & Finn


As a trust beneficiary, you may feel that you are at the mercy of the trustee, but depending on the type of trust, beneficiaries may have rights to ensure the trust is properly managed. A trust is a legal arrangement through which one person, called a “settlor” or “grantor,” gives assets to another person (or an […]

Medicare Now Covers the Cost of COVID At-Home Tests

Lavelle & Finn


If you have Medicare, you can now receive up to eight free rapid at-home Covid-19 tests a month at participating pharmacies.  The free tests are available without a prescription to all Medicare beneficiaries with Part B, including those enrolled in a Medicare Advantage plan. If you only have Medicare Part A, Medicare won’t cover the […]

Should You Prepare a Medicaid Application Yourself?

Lavelle & Finn


Navigating the Medicaid application process can be complicated, especially if you are applying for long-term care benefits. Hiring an attorney to help you through the process can be extremely helpful.  Whether you should prepare and file a Medicaid application by yourself or should hire help depends on answers to the following questions: How old is the […]

What to Do If Your Medicaid Application Is Denied

Lavelle & Finn


If you apply for long-term care assistance through Medicaid and your application is denied, the situation may seem hopeless. The good news is that you can appeal the decision.  Medicaid is a program for low-income individuals, so it has strict income and asset eligibility requirements. Qualifying for Medicaid requires navigating the complicated application process, which has many […]

When to Leave a Nursing Home and Move Back Home

Lavelle & Finn


Leaving a nursing home to return home is a goal for many residents and their families, but it requires careful consideration. While returning home is a good move for some, it won’t work for everyone. A nursing home stay does not have to be permanent. Many residents enter a facility temporarily to recover from an […]

What Is Undue Influence?

Lavelle & Finn


Saying that there has been “undue influence” is often used as a reason to contest a will or estate plan, but what does it mean? Undue influence occurs when someone exerts pressure on an individual, causing that individual to act contrary to his or her wishes and to the benefit of the influencer or the […]

If You Don’t Want an IRA Distribution, You Can Donate It to Charity

Lavelle & Finn


Not everyone wants to take the required minimum distributions from their retirement accounts right away. If you don’t want your distribution, one option is to donate it to charity and get a tax deduction.  You are required to begin taking distributions from your tax-deferred IRA when you reach age 72 (70 ½ if you turned […]