In 2022, Social Security Beneficiaries Will See the Biggest Increase in 39 Years
Rising inflation due to the ongoing coronavirus pandemic means that in 2022, Social Security benefits will go up 5.9 percent, the sharpest upsurge since 1983.
Supreme Court to Hear Case That Could Increase the Bite That Medicaid Takes Out of Settlements
The U.S. Supreme Court has agreed to hear a case that has the potential to affect anyone who receives government assistance with their medical care following a disabling injury that results in a lawsuit.
Using a Minority Valuation Discount to Reduce Estate Taxes
While the current estate tax exemption is quite high, a closely held family business may put your estate over the limit. Careful planning is necessary to lower or completely avoid the tax, and minority valuation discounts are one strategy.
Be Careful Not to Name Minors as Your Beneficiaries
Most people want to pass their assets to their children or grandchildren, but naming a minor as a beneficiary can have unintended consequences. It is important to make a plan that doesn’t involve leaving assets directly to a minor.
6 Things to Ask Before Agreeing to Be a Trustee
Being asked to serve as the trustee of the trust of a family member is a great honor. But being a trustee is also a heavy responsibility. Here are six questions to ask before saying "yes."
How to Protect an IRA From Heirs’ Creditors
When a person declares bankruptcy, an individual retirement account (IRA) is one of the assets that is beyond the reach of creditors, but what about an IRA that has been inherited?
How Much Money Can You Have and Still Qualify for Medicaid?
In order to be eligible for Medicaid benefits a nursing home resident may have no more than $2,000 in "countable" assets (the figure may be somewhat higher in some states).
Britney Spears Case Puts Renewed Focus on Guardianships and Less Restrictive Alternatives
Britney Spears’s struggle to regain control over her business and personal life shines a spotlight on legal guardianship and alternatives that involve less loss of control over one's life.
Younger Adults Now More Likely to Have a Will, According to Survey
A new survey has found that motivated in part by the coronavirus pandemic, younger adults are now more likely to have a will than middle-aged adults. Nevertheless, the overall percentage of Americans with a will has dropped over the past several years.
Court Case Illustrates the Danger of Using an Online Power of Attorney Form
A recent court case involving a power of attorney demonstrates the problem with using online estate planning forms instead of hiring an attorney who can make sure your documents are tailored to your needs.