Two of the most common estate planning tools are trusts and wills. While both serve as a secure way to provide for the management and distribution of your assets after your death, they are set up differently and operate in different ways. To understand why so many...
Trusts are extremely useful tools that can be used to accomplish many different goals in estate planning. But they are artificial legal creations, and unless you work with them on a regular basis, they can be confusing. At Chesapeake Wills and Trusts, we believe...
With the federal estate tax exemption possibly about to be lowered, it may be time to think about steps you can take to keep your estate from being taxed. An irrevocable life insurance trust allows you to pass on money to your heirs while avoiding both the federal...
The one-year deadline for nursing home residents on Medicaid to spend down their first round of stimulus checks is here, but they may have a little extra time. In March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act authorized $1,200...
If you are caring for a loved one at home, you may need to rent a hospital bed. Here are the ins and outs of hospital bed rentals. The benefit of a hospital bed is that it adjusts to allow people with limited mobility to more easily get in and out of the bed....
The IRS has announced that the tax deduction for medical expenses includes amounts spent on face masks, sanitizer and other products purchased to prevent the spread of the coronavirus. If you have significant medical expenses, you may be able to deduct them from...
