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.
Seniors seeking information on assisted living options may find recent data from the Seniorly Resource Center useful. Its new 2024 report sheds light on the costs of assisted living - from the most to the least expensive - across the U.S.
Wills and trusts are foundational estate planning tools. While each is used to distribute your hard-earned assets to your loved ones, they do so in different ways. Each also has its own distinct uses and advantages.
While joint accounts can be useful in certain circumstances, they can have dire consequences if not used properly. Adding a loved one to a bank account can expose you to their creditors and affect Medicaid planning.
Today, an increasing number of people are planning their own funerals or memorial services. They may also designate their funeral preferences in detail and sometimes even pay for a funeral ceremony in advance.
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?