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.
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?
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.