Each client is unique. They have different goals, own assets worth different amounts, and have varying levels of comfort.
At Abraham & Bauer, we take an individualistic approach to Asset Preservation. Mr. Abraham works to educate each client about the different strategies that can be implemented to protect themselves and their possessions.
There are various approaches to preserving assets from being negatively impacted by tax matters including federal and Maryland estate taxes.
Mr. Abraham tailors every asset preservation plan to accommodate the situation and goals of each individual client.
- Potential Pitfall of Lending Parents Money Most people want to help their parents as they age. However, and in addition to potential Medicaid penalties, there is a large risk many adult children do not consider when loaning their parents large sums for temporary financial support: the state may take the money instead of allowing them to be paid back.
- Failing to Plan for Unforeseen Events Can Lead to Disaster Disasters cannot be predicted but, they occur in everyday life. The question you must ask yourself is, are your affairs in order should you experience a disastrous event?
- Common Medicare Scams Despite the best efforts of the Centers for Medicare & Medicaid Services, recipients of both programs are frequently the targets of various identity theft schemes. Let’s review some important tips to be aware of to protect seniors.
- Social Security Disability (SSDI) vs. Supplemental Security Income (SSI) According to the Social Security Administration, almost one and three young adults will require benefits before they reach retirement age.
- An Overview of the Maryland Estate Tax Like its Federal Counterpart, the Maryland Estate Tax (MET) is not collected from every estate passing assets through probate.
- Other New Tax Provisions This article summarizes several other changes made to the tax code in its first major overhaul since 1986.
- IRS Changes for 2018 Taxes The Internal Revenue Service (IRS) has announced important changes of tax-related provisions for 2018. Here’s a summary.
- An Overview of Social Security The Social Security Act’s goal is to limit unforeseen financial dangers of aging such as poverty, widow(er)s with children and unemployment.
- 2017 Tax Law Changes and You Signed into law on December 22, 2017, the Tax Cuts and Jobs Act of 2017 contained several provisions that affect the majority of Americans, especially seniors. General provisions include: reduction in the overall tax rates and adjustments to the brackets that determine how much income tax an individual pays, a new $10,000 cap on State and Local tax deductions, and ...
- Ownership of Assets There is a common misconception that all real and personal property will pass through an individual’s estate upon his or her death. Though, some assets avoid the probate process altogether depending on how the property is titled.