More and more transactions are done digitally, but estate planning has lagged behind technology. That may be changing, though. Even before the coronavirus pandemic made social distancing necessary, electronic wills were gaining legitimacy.
An electronic will (or “e-will”) is a will that is created completely electronically, without paper and...
Parents and other family members who want to pass on assets during their lifetimes may be tempted to gift the assets. Although setting up an irrevocable trust lacks the simplicity of giving a gift, it may be a better way to preserve assets for the future.
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If you want to make a gift to family members but have exceeded the annual gifting limit, there is another way. Payments for a family member’s education or health care expenses are exempt from the gift tax.
The annual gift tax exclusion for 2020 and 2021 is...
President Biden has signed the latest COVID-19 relief bill, which in addition to authorizing stimulus checks, funding vaccine distribution, and extending unemployment benefits, also provides assistance to seniors in a number of ways.
The $1.9 trillion American Rescue Plan Act (ARPA) delivers a broad swath of relief, covering families,...
Netflix’s popular new movie, I Care a Lot, may be far-fetched in a lot of ways, but it does highlight some real weaknesses in the guardianship system that make it possible for an unscrupulous guardian to take control of an elderly person’s life and bleed their resources dry. Fortunately, steps can be taken...
The Centers for Medicare and Medicaid Services (CMS) has issued new guidance on whether families can visit loved ones in nursing homes. The guidance allows indoor visitation even when the resident has not been vaccinated.
The coronavirus pandemic has hit long-term care facilities particularly hard, with
Prices of new long-term care insurance policies for 2021 have have been posted in the annual report from the American Association for Long-Term Care Insurance, an industry group. The price increases appy to new, not current policies. Comparing the 2021 prices with 2020 is difficult, however, because they refer to two different...
For better or for worse, Medicaid is the primary method of paying for nursing home care in the United States. But navigating the Medicaid system is complicated and confusing. Here are the basics.
Medicaid (sometimes called by other names, such as “Medi-Cal” in California, “MassHealth” in Massachusetts, and “TennCare”...
While legally you may not need all-new estate planning documents if you move to a different state, you should have your documents reviewed by a local attorney in your new home.
The Constitution of the United States requires that states give “full faith and credit” to the laws of...
Life insurance can play a few key roles in an estate plan, depending on your age and situation in life.
There are two main types of life insurance: term and permanent. Term life insurance is the simplest: You buy a policy for a set number of years and you have...
