Practice Areas

• Medicaid
• Living Trusts
• Estate Administration and Probate
• Asset Protection
• Veterans Benefits
• Special Needs Trust

Blog

Asset Protection

• "Do I Qualify For Financial Assistance For Nursing Home Care?"
• Free Asset Protection Seminar For Anyone Considering Long Term Care Planning
• Medicaid Compromise in Health Care Bill On the Chopping Block
• Medicaid and Caregiving: Who Are the Ones Taking the Lead?
• Avoid Pitfalls of Medicaid

view all

News

• How To Avoid Wasteful Spending On Health Care...
  Posted on 4/29/2010
• Health Care Debate: Long Term Insurance Overhaul...
  Posted on 1/5/2010
• Survey uncovers surprising long-term care myths and facts...
  Posted on 10/29/2009
• Healthcare reform may offer another option for long-term care planning...
  Posted on 10/25/2009
• Will Pennyslvania lawmakers divert Medicaid stimulus money?...
  Posted on 7/29/2009

view all

Library

Asset Protection

• 10 Reasons to Consider Long-Term Care Insurance
• Solve Eligibility Problems Using the Personal Care Contract
• What Can Seniors and Their Families To Legally Protect Themselves In These Dire Times?
• Gift tax annual exclusion to remain unchanged in 2010. Contact us to see how this factors into your estate plan
• Gift tax annual exclusion to remain unchanged in 2010. Contact us to see how this factors into your estate plan

view all

Choosing whether a Roth IRA is best for you takes a discussion with a qualified financial advisor. Contact us at (800) 879-0984 to find out your best options for estate planning

Now that 2010 has arrived, people whose incomes were previously too high to permit them to rollover a traditional IRA to a Roth IRA are calling their investment houses about making conversions. That's because for the first time, even if your annual income exceeds $100,000, you can convert a traditional IRA -- or a SEP IRA, Simple IRA or 401(k) or 403(b) plan held with a former employer -- to a Roth IRA.

What's all the excitement about? To review, a Roth and a traditional IRA are effectively the opposite of one another. You get a tax deduction by contributing to a traditional IRA, but the money you take out is taxed at ordinary income tax rates. While there is no immediate tax benefit for contributing to a Roth, you don't have to pay tax on the money when you withdraw the funds in retirement. Also, while the original owner of a traditional IRA is required to start distributions after age 701/2, the original owner of a Roth IRA account is not required to take minimum distributions. One major downside to converting from a traditional IRA to a Roth is that you have to pay income tax on the amount you convert.

Special Report

Order our Pennsylvania Elder Law Attorney's Guide To Alzheimer's Care

See All

questions

Asset Protection

• What Is Long Term Care?
• What are examples of services that can be included in a "Personal Care Contract"?
•  
  What are the most commonly used approaches to managing and protecting assets through legal and financial asset protection?
  
  

view all