First Presidential debate is tonight. I intend to have a stiff drink and see how much of it I can manage to sit through, as my stomach for such things is weak.
For those with loved ones in nursing homes, please note the State has just again expanded the types of visitation that can, and must, be allowed, as long as certain COVID infection rates are not exceeded. Many advocates applaud this move, although some are worried the expansion will result in more infections.
Those with large estates might wisely be reading up on strategies to use the current high federal estate tax exemptions before the end of the year, as some believe the rates may be lowered, perhaps retroactively to January 1, 2021 if the republicans lose control of Congress or the Presidency, and in light of the deficits being run. Please keep in mind, those with plans that call for retirement account balances to be paid to trusts at their death, that under the SECURE ACT the way in which your plan works, may no longer be appropriate for you, since a common strategy will now result in the retirement account being distributed out much more quickly to your beneficiaries than was the case under pre-existing law. If you have such a plan, please review it with your advisors soon and see if any adjustments are needed.
Fall is upon us, the best of all the seasons some think, me included, but for the shortening of our days. Please keep in mind that the articles included are for general informational purposes only, and do not constitute legal advice. Always consult with an experienced attorney or other appropriate advisor to determine if your plan is right for you, or any changes are needed. Best wishes to you all.