Deducting Long-Term Care Insurance Premiums in 2023
Are you a taxpayer who has purchased long-term care insurance? Take note of your policy details and your premium amount, as you may be able to deduct the cost – or at least part of it – from your 2023 income.
DetailsAssisted Living vs. Nursing Homes: What’s the Difference?
Assisted living facilities and nursing homes are long-term housing and care options for older adults. Although people sometimes use the terms assisted living and nursing home synonymously, they are distinct.
DetailsAppointing an Executor? Here’s What an Executor Cannot Do
If you are preparing a will, it is important to choose an executor you can trust, who is reliable, and who will take their role seriously. As part of your decision-making, you may also consider the things they would be prohibited from doing.
DetailsDoes Power of Attorney End at Death?
Although every state’s laws and forms vary, most power of attorney forms specify that the agency relationship created by a power of attorney ends upon a person’s death.
DetailsHighlights of How the Omnibus Bill Will Benefit Older Adults
The Senate and House have cleared the passage of a year-end $1.7 trillion appropriations bill that will benefit older adults on a number of fronts.
DetailsStep-Up in Basis and Why It Matters in Estate Planning
If you are considering engaging in estate planning or you may be inheriting assets, it is important to understand what the step-up in basis is and how it may affect you.
DetailsWhat Are the Benefits of Having a Testamentary Trust?
There are various benefits to creating a testamentary trust. This article discusses the benefits of adding a testamentary trust to your estate plan.
DetailsProtecting Spouses of Medicaid Applicants: 2023 Guidelines
The Centers for Medicare & Medicaid Services (CMS) has released the 2023 federal guidelines for how much money the spouses of institutionalized Medicaid recipients may keep, as well as related Medicaid figures.
DetailsDoes Medicare Pay for Assisted Living?
Assisted living facilities support older adults with daily living while fostering their independence. Individuals who do not require round-the-clock nursing but need help with everyday activities like bathing, housekeeping, medications, and meal preparation can benefit from assisted living.
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