ESTATE TALK
The Unmarried Penalty?
In his article "The Unmarried Penalty: Gift, Estate Tax, and Other Planning Considerations for Unmarrieds," Chris Yates, director of gift and estate planning at California Institute of Technology in Pasadena, CA, points out some disadvantages unmarried couples have in terms of estate planning.

MEDI-MINUTES
HHS Proposes Rules to Close Medicaid Loophole
Health and Human Services (HHS) has announced a proposed rule to close a loophole in Medicaid regulations that, according to HHS Secretary Donna Shalala, "costs the federal taxpayers billions of dollars without commensurate increases in coverage or improvements in the care provided to Medicaid beneficiaries."

NATIONAL NOTES
Most Adult Children Confused About Senior Housing and Long-Term Care Options
According to a recent survey of adult children by the National Investment Center for the Seniors Housing & Care Industries (NIC), more consumer education is needed regarding seniors housing and care options. 

RESOURCE CORNER
U.S. Tax Court Online
Need the latest news on Tax Court decisions? Why not try the United States Tax Court’s web site at www.ustaxcourt.gov, where you can view opinions on a same-day basis.  The Tax Court posts its published opinions daily after 3:30 p.m. during weekdays and provides an archive of past cases.
 

TAX TID-BITS
Transferring Loss Property to a Spouse
A terminally ill individual who owns assets that have depreciated should consider transferring those assets to his or her spouse if the spouse is expected to survive.