A promissory note is normally given in return for a loan. Classifying transfers as loans rather than gifts can be useful because it sometimes allows parents to “lend” assets to their children and still maintain Medicaid eligibility.
Many people think that estate plans may be for someone else, but certainly not them. Here are 11 compelling reasons to set up an estate plan, no matter what your age or net worth.
If you’ve created a business, you know that success doesn’t happen overnight. But do you know what will happen to your business if something unexpected impacts you or when you decide to step away?
In the ever-evolving landscape of health care, one critical challenge has been ensuring that Medicare recipients receive the coverage they need without undue financial burdens.
Estate planning for blended families is key to a smooth inheritance process, especially since probate rules and intestate succession law do not treat step and biological children the same when it comes to inheriting.
As the U.S. population ages and life expectancies increase, the need for long-term care is becoming an important consideration for many individuals and families.
Trusts can offer many benefits, including allowing assets to pass directly to beneficiaries and charitable organizations without going through probate, minimizing taxes, and protecting your legacy from creditors.
Though Medicaid exists to help those who need it, navigating the specifics of what it covers and does not cover can be daunting. Here are highlights on the basics of Medicaid coverage.
Sadly, there are seemingly limitless financial fraud schemes that affect older Americans. The impact of financial abuse is enormous.
Elder law attorneys understand the challenges of planning long-term care amidst the shifting care environment. Evaluating costs and developing strategies to pay for long-term care before you actually need it is crucial.