The Biden administration has announced far-reaching nursing home reforms. Advocates are calling the proposals, which include the first-ever federal minimum staffing levels, the most significant reforms in decades.
DetailsNaming a trust as a beneficiary of your retirement plan can be a good idea in some circumstances, but it can be dangerous if you are worried about creditors coming after your estate.
DetailsNot everyone needs their required minimum distributions from their retirement accounts to make ends meet. If you don’t need your distribution, one option is to donate it to charity and not pay taxes on it.
DetailsTax day is fast approaching and you want to make sure you’re taking advantage of all the deductions and credits you’re entitled to.
DetailsMedicaid 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 understand what is required prove your eligibility.
DetailsSome 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 unproductive activities.
DetailsActing 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.
DetailsGifting assets to your grandchildren can do more than help your descendants get a good start in life — it can also reduce the size of your estate and the tax that will be due upon your death.
DetailsServing 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 complexity of the trust.
DetailsWhen 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”) may pass away first.
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