There are lots of misconceptions about estate planning, and any one of them can result in costly mistakes. Understanding who needs an estate plan and what it should cover is key to creating a plan that is right for you.
Details
Many people, especially seniors, see joint ownership as an easy way to avoid probate and plan for incapacity, but there are major drawbacks to joint accounts.
Details
Under Medicaid law, following the death of the Medicaid recipient a state must attempt to recover from his or her estate whatever benefits it paid for the recipient’s care.
Details
Being appointed guardian of a loved one is a serious responsibility. As guardian, you are in charge of your loved one’s well-being and you have a duty to act in his or her best interest.
Details
Medicare’s Open Enrollment Period, during which you can freely enroll in or switch plans, runs from October 15 to December 7. Don’t let this period slip by without shopping around to see whether your current choices are the best ones for you.
Details
The Social Security Administration has announced a 1.6 percent increase in benefits in 2020, nearly half of last year’s change. The small rise has advocates questioning whether the government is using the proper method to calculate increases.
Details
Everyone has heard the terms “will” and “trust,” but not everyone knows the differences between the two.
Details
Ideally, when a second marriage joins two families together, it should be a joyous occasion that creates one bigger family unit. Unfortunately, it too often also creates inheritance fights between stepparents and children.
Details
A durable power of attorney and a health care proxy are two very important estate planning documents. Because the individuals chosen will have to coordinate your care, it is important to pick two people who will get along.
Details
An annuity can be a useful tool for long-term care planning, but annuities are also complex financial products that are hard to understand. If purchasing an annuity, you need to consider your options carefully.
Details