Managing the costs of long-term care and healthcare as you age can be a challenge. The cost is often more than you can afford with your savings and other income. For that reason, it is smart to plan ahead so that you can qualify for Medicaid, which provides many free...
What if my mother hates the nursing home?
There are multiple reasons why moving your loved one into a nursing home is the right choice. However, it is natural for you to have concerns if your loved one says that he or she is unhappy.. However, even if the nursing home is top quality, there is often a period...
How should you review your estate plan?
It can sometimes take years to draft and create an estate plan. The idea of reviewing the entire thing every few years may thus seem overwhelming. But the good news is, you do not need to review every part of your estate plan every single time. In fact, you can...
What are reasons to challenge a will?
People often tend to assume that their last will and testament will be the final word on what happens with their assets after their death. However, there are several reasons why someone may challenge the validity of a will. When people wish to contest a will, they...
Three reasons to start your estate planning early
If you are a young adult, you might think that you should wait until you accumulate more money or property before sitting down to compose a will. Waiting might be a mistake, however. A completed estate plan can provide your family members with crucial guidance that...
4 potential benefits of a revocable trust
A revocable trust is a legal instrument that can dictate how a person’s property is managed and distributed during their lifetime or after they have passed away. As with the majority of legal tools, there are both positive and negative aspects to a revocable living...
What do you know about discussing your end-of-life desires?
While you understand the importance of planning your estate and drafting all the documents, you may struggle to discuss your end-of-life desires openly. How do you bring up the matter with your family and friends? AARP offers tips for sharing your estate plans with...
Don’t overdo the “dead-hand controls” on your trust
Trusts have become an increasingly useful financial tool for people who want to safely pass their wealth onto the next generation. So-called “conditional” trusts, which impose certain obligations on would-be beneficiaries to receive their funds, are particularly...
A spendthrift trust may provide needed asset protection
A spendthrift trust includes specific provisions regarding how a trustee may use its funds on behalf of the named beneficiaries. As noted by SmartAsset, the trustee may exercise broad discretion to spend money on an heir's expenses so that he or she can maintain a...
Here’s why a DIY-estate plan is a bad idea
Creating an estate plan is one of the most important things you can do to safeguard your future, your assets and your loved ones. A well-written estate plan gives you peace of mind knowing that your wishes will be honored when you pass on, or if you become...
Is this a sign of nursing home neglect?
Hearing the many news stories focused on abuse or neglect at nursing facilities likely leaves you feeling concerned for your own loved one. Unfortunately, it is impossible to determine where or when neglect may occur. Noticing red flags can help you react quickly if...
What’s the difference between Medicare and Medicaid?
The “Baby Boomer” generation is getting older and starting to investigate their healthcare options. If you're among that group, you may be wondering exactly how Medicaid plays into your future plans -- and how its relationship with Medicare works. Since 1964, the...
Think of succession planning when starting your business
In the excitement of getting your new business up and running, it is difficult to think of everything you need to do. Succession planning may not be part of your checklist at this point. However, if you have partners, shareholders and employees, there is no time like...
Involve a professional during Medicaid planning
Most people overlook the need for planning for long-term care. Unfortunately, the problem with this kind of thinking is your health can change, especially as you advance in age. No one can project how their health will be in the future. That said, nearly two-thirds of...
Why do inheritance disputes happen?
Knowing that you have planned your end-of-life affairs can remove some of the angst of growing older. Naming beneficiaries and having the peace of mind that those you care about will receive your assets can provide satisfaction and comfort. Despite your best efforts,...
