Owners of high-net-worth estates typically monitor and amend their estate plans regularly. They understand that the responsibility of financial stewardship will ensure continued wealth for many generations.
You may not foresee ever needing assistance with your day-to-day life. However, research shows that seven in 10 adults aged 65 and older will require long-term care at some point in their later years.
If your parent did not prepare for incapacity and name a person to act as their power of attorney, you won’t be able to create a legal document after they are mentally impaired. You will need to claim guardianship.
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.
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?
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.
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.
Recently proposed legislation seeks to offer financial relief for unpaid family caregivers. The Lowering Costs for Caregivers Act of 2023 is the result of a bipartisan effort to lessen the costs of family caregiving.
Your most valuable property may be your home. You likely want your children to inherit that value when you pass away. However, you may also have concerns about planning for the future, especially if you need long-term care.
Although 2024 Medicare premiums are seeing an increase, there are nevertheless a few bright spots. Starting on January 1, 2024, Medicare enrollees may be pleased to hear about several positive changes taking place.