As baby boomers age, more and more millennials are becoming caregivers. Many are taking on this role while just getting started in their own lives, leading to difficult decisions about priorities. Proper planning can help them navigate this terrain.
No parents want their children to fight among themselves after they are gone. Sadly, conflicts often arise, especially when a parent has gifted or loaned money to one child and not others.
Before you commit to adding a trust to your estate plan, make sure you understand the differences between revocable (also called “living”) and irrevocable trusts because each offers advantages and disadvantages, depending on their purpose.
Revocable trusts are an effective way to avoid probate and provide for asset management in the event of incapacity as well as achieve many other goals, including tax, long-term care, and asset-protection planning.
As the population ages, the need for caregivers is growing, but restrictive immigration policies, whatever you may think of them, could have a negative impact on a caregiving industry that is already facing workforce shortages.
The federal government has released the 2020 federal guidelines for how much money the spouses of Medicaid recipients may keep, as well as related Medicaid figures.
A spending bill signed into law by the President contains major changes to retirement plans. The bipartisan legislation is designed to provide more incentives to save for retirement, but it may require workers to rethink some of their planning.
When creating an estate plan, an important decision is whom to name as your fiduciary, which is a fancy legal term for the person who will take care of your property if you are unable to do it yourself.
Inheriting real estate from your parents is either a blessing or a burden — or a little bit of both. Figuring out what to do with the property can be overwhelming, so it is good to carefully think through all of your choices.
