After a Dementia Diagnosis: Preparing for the Future
Fortunately, receiving a diagnosis of dementia or Alzheimer's does not mean that you cannot execute legal documents or make decisions about plans for your future finances and health care.
Pros and Cons of a Medicaid Asset Protection Trust
A MAPT is one option a person may use to protect their assets from Medicaid and nursing homes or long-term care. Consider some pros and cons of MAPTs to see if this long-term care strategy is right for you.
IRS Raising Annual Gift Tax and Estate Tax Exclusions in 2023
Although inflation is generally nothing to be pleased about, the IRS recently announced inflation-adjusted changes to the annual gift tax annual and estate tax exclusions for 2023. If you are considering wealth transfer tax planning, these are welcome increases.
Totten Trust Can Protect Your Money for Your Loved Ones
Totten trusts, or payable-on-death bank accounts, are an estate planning tool that allows you to transfer money to a chosen person upon your death.
What Does It Mean to Be Estranged?
Although estrangement can significantly impact individuals’ lives, it is not a legal term and, in many cases, might not have a legal effect.
What You Should Know About Required Minimum Distributions
Required Minimum Distributions (RMDs) are the minimum amounts a retirement plan account owner must take out each year. It is the responsibility of each retiree to take out the correct RMD from their retirement account each year.
How to Deal with an Estranged Child in Your Estate Plan
Unfortunately, not all families get along. If you are having problems with one of your children, you may not want them to benefit from your estate. There are several strategies for dealing with an estranged child in your estate plan.
Three Estate Planning Options for Your Art Collection
Collecting art or other valuable items can be a passion for many people. Once you have accumulated a sizable collection, what do you want to happen to it after you pass away?
Some Social Security Beneficiaries Can Get Retroactive Payments — But at a Cost
If you need a lot of cash on hand upon retirement, Social Security offers a lump-sum payment option that’s worth six months of retroactive benefits. However, it comes at a cost. It is important to understand the details before agreeing to the payment.
What Is an Executor?
An executor, also called a personal representative, is the person responsible for managing the administration of a deceased person's estate.