If you are a high-net-worth individual, it’s essential to have a comprehensive estate plan in place. However, every family’s circumstances are unique, and there is no one-size-fits-all solution for estate planning.
Below are five estate planning strategies that may be right for you:
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For nearly 60 years, Medicaid has helped support tens of millions of low-income Americans, including seniors and people with disabilities, with low-cost or free health coverage. Come 2023, a new set of rules proposed by the federal government could improve timely access to this program for millions of eligible individuals.
As our parents get older, we must make tough decisions regarding their health care. It can be hard to know when to bring in professional support in the form of home care. Consider the following as you decide whether your aging parents need home care.
What Is Home Care?
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The U.S. Supreme Court has agreed to hear a case disputing how much states can recoup from Medicaid recipients’ settlements in personal injury cases. The decision has the potential to affect anyone who receives government assistance with their medical care following a disabling injury that results in a lawsuit.
Passing assets to your grandchildren can be a great way to ensure their future is provided for, and a generation-skipping trust can help you accomplish this goal while reducing estate taxes and also providing for your children.
A generation-skipping trust allows you to “skip” over the generation directly...
Qualifying for Medicare hardly means free health care — there are still premiums and deductibles. However, people who qualify for both Medicare and Medicaid (called “dual eligibility”) receive help paying their out-of-pocket costs.
Medicare is a federal program available to anyone 65 or older. It consists of four major...
Medicaid long-term care benefits traditionally pay mainly for nursing home care, but the federal government can grant “waivers” to states allowing them to expand Medicaid to include home and community-based services. The downside is that receiving care in a nursing home is an entitlement, while getting care at home is not.
In December 2018, the Social Security Administration (SSA) had a nasty surprise for Laura Marshall (not her real name), a 74-year-old woman just scraping by in senior citizen housing in New York City’s Harlem neighborhood: The agency demanded that she repay more than $10,000 in benefits, claiming that she owned two properties...
A new survey has found that motivated in part by the coronavirus pandemic, younger adults are now more likely to have a will than middle-aged adults. Nevertheless, the overall percentage of Americans with a will has dropped over the past several years.
Caring.com’s 2021...
