Medicaid is a joint federal and state program that pays for long-term care costs for individuals who meet certain asset requirements. The cost of long-term care often has devastating financial impacts for Americans, particularly the elderly, and family members who…
Wills are legally binding directives that state who will inherit your assets upon your death. They are an integral part of a comprehensive estate plan. In the event of your death without a will (intestate), your assets will be distributed…
In the event that a loved one might need Medicaid assistance in the near future, that person should avoid giving gifts. Gifts in such situations can end up being very, very expensive for people who receive joy from generosity. Medicaid…
It is no stranger to the general population that there is a growing increase for the need for affordable long-term care services in America. Costs are exceedingly expensive between premiums for a long-term care insurance policy and monthly bills from…
The Achieving a Better Life Experience (ABLE) Act establishes tax-advantaged accounts for people with disabilities. These accounts grow and are tax-free. The money in the accounts can be used for qualifying expenses. Before the passing of the ABLE Act in…
The law describes estate planning as a legal document summarizing the property a person owns and how to distribute these assets when deceased. Property ownership includes individual as well as jointly owned bank accounts, stocks and bonds, retirement accounts, real…
Most people consider their home or other real property the main part of their overall net worth. How the home and other pieces of real property are titled deserves careful consideration. Real estate constitutes the land and any structure, including…
In deciding who will inherit your property, the most simple way would be to divide it equally among the children. That is the straightforward choice when all your children are doing equally well. But if not – if, for example,…
A blended family is where a couple brings children into a marriage from a previous marriage and then possibly has children together. Blended families highlight the need for careful estate planning to make sure the needs of each spouse are…
At times, family members end up fighting over a parent’s favorite items when that parent dies. Arguments can take place over things like a coffee mug, a piece of jewelry, or a painting. These types of arguments can be eliminated…
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