A Guide to Medicaid Gifting Penalties
In the US and around the world, the aging population is growing. People are living longer than previous generations, which means they will require more long-term care. It’s estimated that seven out of ten Americans will need long-term care during their lives. Long-term care can include care in your home, an assisted living facility, or […]
Medical Estate Planning Documents
Wills and trusts are usually associated with estate planning and passing assets to future generations. However, there is another part of estate planning that doesn’t get as much attention. It concerns advance health care planning. Have you thought about what type of medical care and treatments you want, or don’t want, if you become incapacitated […]
The Benefits of Living Trusts for Seniors
It is unfortunate that seniors are often the victims of financial abuse and scams. That’s why it’s important that planning is in place to help seniors protect themselves and their assets. As we age, it can become increasingly difficult to manage our assets. Most of us will, at some point, need assistance with these details […]
Estate Planning for Seniors
Even though nearly half of Americans age 55 or older acknowledge that estate planning is important, few have wills, powers of attorney, or health care directives. These documents help guide your representatives to provide the end-of-life wishes you seek. Estate planning also reduces the family burden and stress caused by conflict among family members after […]
Digital Estate Planning Obstacles to Avoid
With the Internet of Things (IoT), identifying and managing your digital property is more important than ever. From smart home devices to online investments and bank accounts, we’ve gone way beyond using the internet to email family and social media to connect with friends. Today, understanding which digital information and accounts you can legally leave […]
Manage Your Retirement Benefits to Offset Rising Inflation
Unless big changes arise, the forty-year inflationary high is going to continue well into 2023. Bankrate’s Third-Quarter Economic Indicator poll projects inflation will be more significant than previous expectations over the coming twelve to eighteen months. Even in the best economic outcomes for 2023, maximizing allowable benefits to offset inflationary pressures is a smart strategy. […]
A Fiduciary’s Role in Estate Planning
Fiduciaries are individuals, professionals, or organizations that are legally obligated to act in the best interest of their appointed beneficiaries. Carrying out the terms of a will or trust or making medical or financial decisions on behalf of another are fiduciary roles that come with specific responsibilities. Will The fiduciary of a will is referred […]
Medicaid Enrollment and Eligibility Changes
CMS has proposed simplifying Medicaid enrollment and increasing the number of people eligible to obtain and maintain coverage. Overall the goal is to streamline applications, verifications, enrollments, and renewals, standardize processes, and reduce red tape. These proposals are a response to the Biden Administration’s January 2021 and April 2022 executive orders to increase access to quality, affordable health coverage […]
Creating a Will for Blended Families
It is common today for families to have stepchildren, and in cases of inheritance, stepchildren are often treated the same as biological children. This is particularly true where stepchildren are part of a blended family from an early age. Biological siblings may have different feelings about a stepchild inheriting what they perceive is theirs as a […]
Powers of Attorney Explained
Power of Attorney (POA) documents are an essential part of estate planning. All states recognize powers of attorney, but rules and requirements will differ from state to state. The document gives one or more individuals the legal authority to act as your agent or proxy on your behalf. Depending on which POA you choose, the […]