Learn how to best advise your snowbird clients on current issues related to estate planning and health care across state lines.
This topic will provide you a solid understanding of the multitude tax and legal considerations that a winter visitor will encounter, many of which are not readily apparent but can result in costly mistakes. In the aftermath of the COVID-19 pandemic with state and local governments facing high deficits, winter visitors are likely to be tempting targets for cash-strapped states and municipalities. Advising clients to avoiding these dangers will be a very worthwhile endeavor for practitioners. Availability of health care is also a crucial issue for the elderly. Proper advice as to eligibility of Medicare and Medicaid when crossing states lines will also avoid expensive misunderstandings. The importance of updating powers of attorney to avoid wrangling over out-of-state documents will also be discussed. This material will cover all of this is valuable information for the winter visitor.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
State Income Tax Issues
- Establishing Domicile
- The 183 Day Rule
- Avoiding Double Taxation at the State Level
- SALT Limitation on Deducting State Income and Property Taxes
Mortgages Deduction
- $750,000 Mortgage Debt Cap
- Standard Deduction vs. Itemized Deduction
- Moving Expense Deduction
State Estate Taxes
- Danger of Paying in More Than One State
Estate Planning Documents
- Problems With Out-Of-State POAs
- Trusts for Properties in Multiple States
Health Care Planning While Crossing State Lines
- Traditional Medicare
- Medicare Advantage
- Medicaid
- Recognition of Out-Of-State Guardianships
Requirements for Vehicle Registration in Winter State
Creditor Protection for Homesteads
Issues for Canadians Wintering in the United States
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Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on December 1, 2020.
Call 1-866-352-9540 for further credit information.
- CA MCLE 1.5
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Credit
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Thomas J. Murphy
Murphy Law Firm, Inc.
- Attorney and Founder of Murphy Law Firm, Inc. in Phoenix, AZ
- Over 40 years of experience with practice focusing on probate law, estate planning, elder law, and tax law and planning for the disabled and those with special needs
- Author of nearly 100 articles that have been published in many national and state professional journals focusing on a wide variety of legal and tax matters
- Has spoken to thousands of attorneys, accountants, and financial advisors and has appeared on several local television and radio stations to discuss tax and legal issues affecting the elderly and their families
- Served on numerous state and county bar association committees and was selected to be the State Bar representative to the Arizona Supreme Court’s Committee on Reform of Lower Jurisdiction Courts
- One of the most experienced trial attorneys in the Southwest, having been the sole or lead counsel in over 100 jury trials; has successfully litigated cases in the United States Tax Court, the Arizona Tax Court, and the Arizona Board of Tax Appeals and has represented clients before all levels of the Internal Revenue Service and Arizona Department of Revenue
- Can be contacted at [email protected] or 480-838-4838
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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