Join Jeffrey Bellomo as he addresses several questions that have surfaced during his weekly calls with members of the Red Wagon Club. Jeff reviews an increase in estate and gift tax exemptions as part of recent federal legislation and clears up confusion about irrevocable trusts and the “step-up in basis.” Additionally, he explains Pennsylvania’s grantor trust rules.

Jeff also takes time to express his immense gratitude for the clients and the talented individuals—past and present—who have made Bellomo & Associates the success that it is. He reflects on the honor of being voted “Best Lawyer” by the community and acknowledges the work of his dedicated team. He also shares a story from a recent event at The Residence at Fitz Farm, where a current client shared their experience with Bellomo’s Life Care Planning team. Jeff could not have been more proud.  

 

WHAT YOU NEED TO KNOW

(00:00 ) Introduction to Q&A from Red Wagon Club members  

(01:22 ) Expressing gratitude and giving credit to the Bellomo team  

(04:24 ) What are the new estate and gift tax exemptions for 2026?  

(08:00 ) Clarifying myths about irrevocable trusts and the step-up in basis  

(11:40 ) How did you spend your summer vacation? 

(14:15 ) Am I required to file a separate tax return for a grantor trust?  

(16:18 ) Busting with pride over an unexpected client testimonial  

(22:44 ) How Jeff’s own family has benefitted from Life Care Planning  

(25:40 ) When is the best time to attend Bellomo’s free workshops?  

 

ABOUT BELLOMO & ASSOCIATES

Jeffrey R. Bellomo, the founder of Bellomo & Associates, is a licensed and certified elder law attorney with a master’s degree in taxation and a certificate in estate planning. He explains complex legal and financial topics in easy-to-understand language.

Bellomo & Associates is committed to providing education so that what happened to the Bellomo family doesn’t happen to your family. We conduct free workshops on estate planning, crisis planning, Medicaid planning, special needs planning, probate administration, and trust administration. Visit our website (https://bellomoassociates.com/) to learn more.

 

LINKS AND RESOURCES MENTIONED

Bellomo & Associates workshops:https://bellomoassociates.com/workshops/

• Life Care Planning
• The Three Secrets of Estate Planning
• Nuts & Bolts of Medicaid

For more information, call us at (717) 845-5390.

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WAYS TO WORK WITH JEFFREY BELLOMO

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