If you are a high-net-worth individual, it’s essential to have a comprehensive estate plan in place. However, every family’s [...]

If you are planning to leave an investment property to loved ones, a 1031 exchange may be a helpful estate planning tool for you. [...]

After losing a loved one, consider the best way to honor them and their life. Sometimes, a traditional funeral is not the best fit. Today, there are many [...]

You may wonder if there’s anything you shouldn’t include in your will. The answer is yes. There are some things that you should [...]

Seniors living in Medicaid-funded nursing homes receive a personal needs allowance - a monthly stipend the Medicaid recipient can use [...]

Although caring for people with dementia can be challenging, a variety of resources can help caregivers assist their loved ones. [...]

For the first time in more than 10 years, Medicare Part B enrollees will see some of their costs decline.

Recent research examined the differences between traditional Medicare and Medicare Advantage.

Medicaid imposes strict rules on how much money and assets an applicant can have. To qualify for Medicaid, you must fall under the asset limit, which is $2,000 in most states. Even with greater [...]

A life estate often comes up in discussions of estate and Medicaid planning. It is a form of joint ownership that allows one person to remain in a house until his or her death, when it passes [...]

Accumulated frequent flier miles can be valuable assets, but what happens to those miles after somene dies? Can a spouse or other heirs inherit them, or do the miles simply evaporate like a [...]

You may have heard of the terms “springing” and “non-springing” power of attorney and wonder what they mean.

As the recent death of Anne Heche shows us, not having a will can place a significant burden on your children and cause undesirable [...]

A number of considerations go into how much long-term care insurance any consumer should buy. 

If your loved one is entering a nursing home, you may worry whether you could be liable for their care.

A recent survey finds that 55 percent of adult children say they are not financially prepared to help their Baby Boomer parents cope with rising inflation and [...]

When you put your assets in a MAPT, Medicaid will not count the money in the trust toward its resource limit.

Even if you've created an estate plan, are you sure you included everything you need to? There are certain provisions that people often forget to put in in a will or estate plan that can have [...]

Planning your own funeral arrangements can assist your loved ones in an emotionally challenging time, while also protecting them from [...]

There are some documents that you will want to hang on to forever and some that you should keep for a few years.

In many cases, you would tell your beneficiaries that you have made a trust for them. However, this is not always desirable - and this is where a “quiet” trust may be helpful.

Unfortunately, neither health insurance nor Medicare covers long-term care. Medicaid could become your only option, so do what you can to plan ahead.

Many retirees meet the requirements for federal and state benefits programs, yet do not know they are eligible and miss opportunities [...]

Even a modest monthly income may disqualify you from Medicaid. A Miller Trust may help you resolve this dilemma.

If you have ever been admitted to the hospital, you have likely been asked to sign a health care proxy form.

Do you have a friend or loved one who receives Social Security and is unable to manage her payments? If so, you can request that the Social Security Administration name you as the [...]

If medical personnel are able to access your medical history during an emergency, it could mean the difference between life and death.

Medigap premiums for plans from insurance companies offering the same benefits vary widely, so it pays to be a smart shopper.

Nursing home evictions, or involuntary discharges or transfers, disrupt the lives of residents, leading to homelessness, separation from familial support systems, and loss of care. As federal [...]

Following the death of a family member, you may find yourself needing to sort through many possessions accumulated over the deceased’s lifetime. An estate sale is one way to distribute, [...]

Grantor Retained Annuity Trusts (GRATs) ­are a mechanism by which wealthier individuals and couples can transfer appreciating assets to their heirs and minimize gift or estate taxes.

Saying goodbye to a loved one is heartbreaking. Making final arrangements can be overwhelming, and knowing what you are allowed to do to fulfill your loved one's wishes is important — but it [...]

The Internal Revenue Service has issued new guidance extending the time that executors have to elect portability.

An executor, also called a personal representative, is the person responsible for managing the administration of a deceased person's estate.

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?  

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 [...]

If you want to pass money to future generations without having it subject to gift and estate taxes, then a dynasty trust may be right for you.  

An advisory issued in June warns people against using a series of adult portable bed rail models after at least three people were entangled in them and died of asphyxia.

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 [...]

While Medicaid helps pay for nursing home care, being admitted to a nursing home as a Medicaid recipient is not always easy. There are several ways to navigate the process, depending on your [...]

In a case involving a teen who was catastrophically injured, the U.S. Supreme Court has ruled that state Medicaid programs may be [...]

A Roth IRA does not have to be used as just a retirement plan; it can also be a way to transfer assets tax-free to the next generation.

Sports fans with season tickets may want their families to enjoy the tickets after they are gone, but passing on these tickets is not always simple.  

Running a small business can keep you busy, but it should not keep you from creating an estate plan. Not having a plan in place can cause problems for your business and your family after you [...]

As a trust beneficiary, you may feel that you are at the mercy of the trustee, but depending on the type of trust, beneficiaries may have rights to ensure the trust is properly managed.

Navigating the Medicaid application process can be complicated, especially if you are applying for long-term care benefits. Having an attorney help you through the process can be extremely [...]

If you have Medicare, you can now receive up to eight free rapid at-home Covid-19 tests a month at participating pharmacies, no prescription required. 

Leaving a nursing home to return home is a goal for many residents and their families, but it requires careful consideration. While returning home is a good move for some, it won't work for [...]

If you apply for long-term care assistance through Medicaid and your application is denied, the situation may seem hopeless. The good news is that you can appeal the decision. 

When a married couple applies for Medicaid, the Medicaid agency must analyze the couple’s income and assets as of a particular date to determine eligibility. This “snapshot” date can have a [...]

In an alarming number of cases, private Medicare Advantage plans are denying coverage for medical services that would be covered under original Medicare, according to a federal investigation. [...]

We've all been warned about protecting ourselves from identity theft, but one group of victims can't take action to defend themselves—the dead. There are steps that you can take to discourage [...]

While an inheritance is usually desired, there are some circumstances in which it might be unwelcome. If you don’t want an inheritance, you must disclaim it. 

One of the many factors to consider when setting up a trust is whether to make it a grantor trust or a non-grantor trust. While a grantor trust is more common, a non-grantor trust can be [...]

The estate and gift tax exemption is set to be cut in half in 2026. Proper planning may be necessary to make sure you are taking full advantage of the current exemption and aren’t negatively [...]

Tax day is fast approaching and you want to make sure you're taking advantage of all the deductions and credits you're entitled to.

A federal court has ruled that hospitalized Medicare beneficiaries who were switched from inpatient to observation status can appeal the decision, making it easier for them to receive coverage [...]

When loved ones pass away, there are lots of considerations, including what happens to their Social Security. The decedent’s payments need to be stopped, but survivor’s benefits may be [...]

Medicaid applicants must prove that they have limited income and assets in order to be eligible for long-term care benefits. Before beginning the application process, it is helpful to [...]

Some parents, fearful of how a large inheritance will affect their heirs, set up what are known as “incentive trusts” that ensure that the trust funds support positive behavior and discourage [...]

Acting as an agent under a power of attorney is a big responsibility and it isn’t something everyone can take on. It is possible to resign or refuse the position.

Serving as a trustee of a trust can be a huge responsibility, so trustees are entitled to compensation for their work. The amount of compensation depends on the type of trustee and the [...]

When one spouse is in a nursing home and applying for Medicaid, planning has to take into account the possibility that the spouse who is not in the nursing home (called the "community spouse") [...]

Overwhelmed by the stress of long hours, low pay and exposure to the COVID-19 virus, nursing home workers are quitting in record numbers. The labor hemorrhage has turned what was already a [...]

The Centers for Medicare and Medicaid Services announced that it will add data on staff turnover rates and weekend staffing levels to its Care Compare website, giving consumers another tool [...]

If a loved one is experiencing memory loss or suddenly making poor decisions, you may want the court to appoint a guardian, which requires a declaration of incompetence.  

If your family contains opposite-gender parents in the first marriage for each and one or more kids, all healthy and thriving, your estate plan will probably be pretty straightforward. But if [...]

What happens if you become incapacitated and are unable to voice your opinion on your health care? If you don’t have a health care proxy or guardian in place, state law chooses who can make [...]

With the fate of the estate tax exemption uncertain, you may want to use the current large exemption to transfer assets to a trust to benefit your spouse. A spousal lifetime access trust [...]

When the SSA closed its offices at the onset of the COVID-19 pandemic, it failed to provide practical ways for the elderly and people with disabilities to demonstrate their eligibility or [...]

When applying for Medicaid’s long-term care coverage, in addition to the strict income and asset limits, you must demonstrate that you need a level care typically provided in a nursing home.  

Medicare premiums are rising sharply next year, cutting into the large Social Security cost-of-living increase. The basic monthly premium will jump 15.5 percent, or $21.60, from $148.50 to [...]

The Internal Revenue Service (IRS) has announced the amounts taxpayers of different ages can deduct from their 2022 income as a result of buying long-term care insurance, and the figures are [...]

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. 

A power of attorney may seem like a simple document, but there are several important decisions that need to be made when creating one.

If you have close relatives who are citizens of another country, you might receive a gift or inheritance from them at some point. While you usually do not have to pay taxes to the IRS for [...]

Limited Liability Companies (LLCs) are an important tool for small business owners, but they can also be useful in estate planning. An LLC can help you pass assets to your children while [...]

While you likely have the best of intentions regarding how you want your estate distributed when you die or your affairs handled should you become incapacitated, without proper planning your [...]

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 [...]

Individuals who are researching nursing homes can now see staff and resident vaccination rates along with other quality and safety measure information at Medicare’s Nursing Home Compare [...]

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. 

You aren't technically required to hire a lawyer to draft a will, but failing to do so could lead to costly problems for your family and other heirs.

For a variety of reasons, people sometimes want some or all of their assets to pass directly to specific individuals upon their deaths, outside of probate.  POD and TOD accounts are one way to [...]

When interest rates are low, intrafamily loans can be a good way to assist children with purchasing a house or a family business, and in certain circumstances they can be used to gift money to [...]

In the event you lose your house in a natural disaster or through another calamity, it is important that your estate planning and other important documents are beyond reach and easily [...]

All older Americans are vulnerable to financial abuse, but there are circumstances that make someone more likely to be scammed. An online survey can help older adults assess their risk of [...]

Every year during Medicare's Open Enrollment Period, which runs from October 15 to December 7, Medicare gives beneficiaries a window of opportunity to shop around and determine if their [...]

The Social Security trustees are projecting that the Social Security trust fund will be depleted in 2033 -- one year earlier than the previous estimates. Once the fund is depleted, Social [...]

When most of a couple's income is in the name of the spouse who is receiving Medicaid, the spouse remaining in the community may wonder what he or she will live on. Medicaid has created some [...]

When you need someone else to care for money or property on your behalf, that person (or organization) is called a fiduciary. 

Marriage is supposed to be “until death do us part,” but after one spouse dies, is it possible to have the marriage annulled? It can be done, but only in certain circumstances. 

A number of tax proposals being considered in Congress could significantly affect gifting and estate plans for people with with larger estates -- over $3.5 million. 

It is important to get any agreements about inheritance in writing. Providing services to someone does not automatically entitle you to a portion of their estate. 

Studies have found that workers overestimate how much they will receive in Social Security benefits when they retire. Having a good understanding of the realities can help you plan for [...]

The federal government can grant “waivers” to states allowing them to expand Medicaid to include home and community-based services. The downside is that states can limit home care and the wait [...]

If you are experiencing problems with your nursing home that can't be resolved within the nursing home, your next step is to contact the local ombudsman assigned to the nursing home.

In most states, anyone interested in the well-being of an individual who may be incapacitated – called the “proposed ward” -- can request a guardianship for that person. 

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?