June 2020 Newsletter

Kaeble Law LLC

14142 Denver West Parkway
Suite 287

Lakewood, CO 80401
(303) 877-8921
www.coloradoestatesolutions.com

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With summer upon us, many of us are already thinking about our young adults going off to college in the fall.  It is never too early to think about having an estate plan in place before they leave for college.  Kaeble Law would be happy to assist your young adults in developing an estate plan of their own.  We are offering our college incentive plan, which includes a medical power of attorney, HIPAA authorization, financial power of attorney and a will, at a cost of $119.  Our college incentive plan will give not only them, but parents, peace of mind in knowing that although they are growing up and getting out on their own, we can still protect them with a solid estate plan that will fit your family's needs.  

Please feel free to contact our office at 303.877.8921 to schedule an appointment for your young adults to take advantage of this fantastic plan.  

Following are several articles that I found of interest; I hope you do as well.  Please feel free to share an article or two or the entire newsletter with family and friends.  

FEATURED ARTICLE

Pandemic Relief: Retirement Account Owners Do Not Have to Take Required Distributions in 2020

Retirement account owners, many of whose retirement balances have been pummeled by a stock market drop due to the coronavirus pandemic, do not have to take mandatory withdrawals this year. 

Coronavirus Relief Funds Paid to Deceased Americans Must Be Returned

In the wake of the coronavirus pandemic, some 150 million Americans received economic relief payments, including potentially millions of deceased individuals. After weeks of silence, the IRS has finally explained what to do with the funds.

States May Not Terminate Medicaid Benefits During the Coronavirus Pandemic

Access to affordable medical care is especially important during a health crisis. New federal law prevents states that have accepted increased Medicaid funding from terminating Medicaid benefits during the coronavirus health emergency.

Seniors Affected by the Coronavirus Pandemic Have More Time to Apply for Medicare or Change Plans

The closure of Social Security offices has affected unemployed seniors who need to apply for Medicare after losing their employer health coverage. These seniors now have more time to enroll in Medicare or change plans.

What Taxes Are Due When the Beneficiary of a Special Needs Trust Dies?

Trusts are important vehicles in special needs planning. What happens, though, when the primary beneficiary of a special needs trust dies and there are assets left in the trust? How are taxes calculated and paid?

SSA Suspends Eligibility Reviews and Other Standard Procedures

Due to the COVID-19 pandemic, the Social Security Administration (SSA) has suspended eligibility reviews and other  standard procedures for Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) beneficiaries.

Adults with Special Needs Who Are Claimed as Dependents Will Not Get Coronavirus Relief Payment

Not everyone will get the relief payment the federal government is sending to help Americans through the economic disruption triggered by the pandemic. Among those left out are adults with special needs and seniors who are claimed as dependents.

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