A new report finds that almost no retirees are making financially optimal decisions about when to take Social Security and are losing out on an average of more than $100,000 per household in the process.
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.
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.
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.
A trust protector is someone who is appointed to watch over a trust that will be in effect for a long time and ensure that it is not adversely affected by any changes in the law or circumstances.
Raising a grandchild can be tough financially, but grandparents in this situation should be aware that there is a tax credit available that could help them.
In order to be eligible for Medicaid, you cannot have transferred assets recently. Congress does not want you to move into a nursing home on Monday, give all your money to your children (or whomever) on Tuesday, and qualify for Medicaid on Wednesday.
It may become harder for Medicare beneficiaries to find home health care due to a new rule. Although the rule changes the way home health care providers are reimbursed, it could affect patient care as well.
If you move to a different state or split your time between one or more states, you should make sure your advance directive is valid in all the states you frequent.
One important reason to have a will is to be able to name your executor (also called a personal representative). An executor is the person responsible for managing the administration of your estate after you die.