Decisions to Make for Your Power of Attorney
A power of attorney may seem like a simple document, but there are several important decisions that need to be made when creating one.
Better Than No Loaf: Medicaid Planning Using “Half a Loaf” Strategies
While it is preferable to conduct long-term care planning well in advance of needing care, if you haven’t planned ahead, there are some strategies available to avoid spending all your assets.
Hiring a Caregiver: Should You Employ One Yourself or Go Through an Agency?
Many families will eventually have to hire a caregiver to look after an aging relative. There are two main ways to hire someone: directly or through a home health agency.
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).