That is the million dollar question! Proposals have already been floated that would dramatically change the estate and elder law landscape.
New laws would eliminate the federal estate tax (currently the exemption is $5.4 Million), turn Medicaid (the program that covers indigent health care and long term nursing home care) over to the states in a capped block-grant arrangement administered by each state.
We are also likely to see cost-cutting changes to health care, Medicare and Social Security.
We won’t know the impact of future legislation for months if not years. What we know for sure is that the new rules, whatever shape they may take, will directly impact our estate and elder law clients.
We are committed to keeping you, our valued client, abreast of upcoming changes through our semi-annual printed newsletters and other interim ad hoc communications. Stay tuned!