As they grow older, your parents may prefer to continue living in their home rather than moving to a long-term care facility. They are not alone in this; more than three-quarters of adults over the age of 50 say they would prefer to age in place.
Many executors don't understand the probate process and leave the tasks to the lawyer. While the executor has a fiduciary duty to protect the heirs' interests, does the lawyer? It depends on your state.
To qualify for Medicaid, you must have limited income and assets (in most states, no more than $2,000 in your name). If you have more than that, you may find yourself having to "spend down" your extra assets to meet the $2,000 limit.
Professional estate planning considers eventual probate and estate administration to avoid common problems. However, should disputes arise, an experienced litigator can protect and guide you in probate court.
Four in 10 people believe they do not have enough assets to make a will, according to a new survey. This statistic reflects a common misconception about estate planning: that it is only for the wealthy.
You might be tempted to download a free power of attorney form when looking for estate planning services online. But will that be enough to ensure the document is legally recognized?
Even if you have a long-term care insurance policy, you may likely be hoping that you won't ever have reason to use it. Regardless of what the future holds, there's one silver lining of which you may not be aware. That is, premiums on many long-term care insurance policies are in fact tax-deductible.
As they grow older, your parents may prefer to continue living in their home rather than moving to a long-term care facility. They are not alone in this; more than three-quarters of adults over the age of 50 say they would prefer to age in place.
Innovations in robotics and artificial intelligence may have the potential to provide support on this front, allowing seniors to continue living at home as they age.
Vermont has become the first state in the U.S. to update its end-of-life choice law to make it legal for nonresidents to pursue medically assisted suicide.