Oftentimes these lifelong savings are expended on the cost of long term care. To the farm community, this reality presents far more catastrophic consequences by threatening the farmer’s ability to preserve the family farm for future generations.
Brian J. Hinkle
Designating a primary and contingent beneficiary of your Individual Retirement Account (IRA) is a critical part of your overall estate plan.
If you own commercial real estate, or are a tenant who is responsible for payment of real estate taxes, you may be entitled to a decrease in real estate taxes.
With the cost of skilled nursing care exceeding $100,000 per year in some parts of Pennsylvania, a married couple’s assets can be quickly consumed by the cost of one spouse’s care in the event they become institutionalized in a skilled nursing facility.
Despite budget shortfalls, Pennsylvania continues to fund numerous programs aimed at encouraging expansion of business.
Traditional estate planning focuses on what will come of an individual’s assets after they pass. It does not address the reality that there is a 70% chance that individuals over 65 will require some type of long-term care, including entry into a skilled care facility.
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