The Difference Between Elder Law and Estate Planning
Elder law and estate planning serve two different — but equally vital — functions.
5 Estate Planning Tips for the Non-Traditional Family (Which Odds Are Includes Yours)
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 not, it’s not as simple and you have a lot of company.
Who Makes Health Care Decisions If You Can’t?
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 those decisions.
What It Means to Need ‘Nursing Home Level of Care’ for Medicaid Eligibility
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.
Can You Be Buried With Your Pet?
Most states either have laws specifically prohibiting pets and humans to be buried together or are silent on the issue. But at least four states have laws allowing some form of combined burial, and the list will undoubtedly grow as demand increases.
IRS Issues Long-Term Care Premium Deductibility Limits for 2022, and They Look Pretty Familiar
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 almost the same as in 2021.
Medicare Premiums to Increase Dramatically in 2022
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 $170.10 a month.
Closing of Social Security Field Offices Disrupted SSI Benefits for Thousands, Lawsuit Charges
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 challenge its decisions, according to a class-action lawsuit.
A Way to Lock in the Current Estate Tax Exemption to Benefit Your Spouse
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 (SLAT) can help transfer assets outside of your estate.
In 2022, Social Security Beneficiaries Will See the Biggest Increase in 39 Years
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.