Life insurance can be an integral and important part of a well-drafted estate plan. There are numerous benefits to owning a life insurance policy aside from providing a large sum of money to beneficiaries.
Trusts can offer many benefits, including allowing assets to pass directly to beneficiaries and charitable organizations without going through probate, minimizing taxes, and protecting your legacy from creditors.
More and more elders are choosing to pass on their wealth to heirs while they're still alive. The growing popularity of "giving while living" comes as good fortune for the many young people who are currently unable to afford a home.
As the U.S. population ages and life expectancies increase, the need for long-term care is becoming an important consideration for many individuals and families.
Estate planning for blended families is key to a smooth inheritance process, especially since probate rules and intestate succession law do not treat step and biological children the same when it comes to inheriting.
Though Medicaid exists to help those who need it, navigating the specifics of what it covers and does not cover can be daunting. Here are highlights on the basics of Medicaid coverage.
As a spouse, you have the option of claiming a Social Security retirement benefit based on your own earnings record or collecting a spousal benefit equal to half of your spouse's Social Security benefit.
In late March 2024, U.S. Sen. Bob Casey (D-PA) introduced the Boosting Benefits and COLAs for Seniors Act. The Act centers on changing the formula that the SSA uses to calculate Social Security benefits for older adults.
When a loved one passes away, it's important to get a death certificate. This document is necessary to handle the financial and legal affairs of the deceased person.
As of late 2023, the median monthly cost of a semi-private room in a nursing home in the U.S. was close to $9,000. The vast majority of people cannot afford to pay these prices out of pocket over the long term.