Five Reasons to Have a Will
Your will is a legally-binding statement directing who will receive your property at your death. Why should you have a will? Here are some reasons.
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Can You Visit Nursing Home Residents After They are Vaccinated?
COVID vaccines are starting to roll out to nursing homes across the country, signaling the beginning of the end of the pandemic. Once your loved one has had both doses of the vaccine, you may be able to visit, but precautions are still necessary.
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The Attorney’s Role in Medicaid Planning
Do you need an attorney for even “simple” Medicaid planning? This depends on your situation, but in most cases, the prudent answer would be “yes.”
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Watch Out for These Potential Problems with Life Estates
Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax efficiency, but there are potential problems to look out for.
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Medicare Premiums to Increase Slightly in 2021
Medicare premiums are set to rise a modest amount next year, but still cut into any Social Security gains. The basic monthly premium will increase $3.90, from $144.60 a month to $148.50.
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Annuities and Medicaid Planning
Immediate annuities can be ideal Medicaid planning tools for spouses of nursing home residents. Careful planning is needed to make sure an annuity will work for you or your spouse.
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Special Tax Deduction for 2020 Allows Donations of $300 to Charity Without Itemizing
As we enter the giving season, there is an additional reason to be charitable. Congress enacted a special provision that allows more people to easily deduct up to $300 in donations to qualifying charities this year.
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Don’t Forget to Fund Your Revocable Trust
Revocable trusts are a very popular and useful estate planning tool. But the trust will be ineffective if you do not actually place your assets in the trust.
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The Hazards of Do-it-Yourself Estate Planning
Many websites offer customized, do-it-yourself wills and other estate planning documents. Although these products are convenient, using them could create serious and expensive legal problems for heirs.
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A Modest Social Security Increase for 2021
The Social Security Administration has announced a 1.3 percent rise in benefits in 2021, an increase even smaller than last year’s.
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