You may have heard the terms “special” needs trust and “supplemental” needs trust and wondered what the difference is. The short answer is that there’s no difference. Here’s the long answer.
DetailsIn late March 2024, U.S. Sen. Bob Casey (D-PA) introduced the Boosting Benefits and COLAs for Seniors Act. The Act centers on changing the formula that the SSA uses to calculate Social Security benefits for older adults.
DetailsWills and trusts are foundational estate planning tools. While each is used to distribute your hard-earned assets to your loved ones, they do so in different ways. Each also has its own distinct uses and advantages.
DetailsWhile joint accounts can be useful in certain circumstances, they can have dire consequences if not used properly. Adding a loved one to a bank account can expose you to their creditors and affect Medicaid planning.
DetailsWe are committed to both the profession and the communities where we work and live … from our annual involvement in the Walk to End Alzheimer’s to the RIBA Elderly Pro Bono program, the National Academy of Elder Law Attorneys, the Estate Planning Council of RI and more.
DetailsIf 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.
DetailsYou 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.
DetailsOwners 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.
DetailsIn some instances, AI-generated content may be a helpful tool for friends and family members struggling with the emotional process of creating an obituary, but AI also presents some peculiar and even disturbing problems.
DetailsTo 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.
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