The Social Security trustees are projecting that due to the economic downturn caused by the pandemic the Social Security trust fund will be depleted in 2033 -- one year earlier than the previous estimates. Once the fund is depleted, Social Security benefits will be reduced unless Congress acts in the interim.
Limited Liability Companies (LLCs) are an important tool for small business owners, but they can also be useful in estate planning. An LLC can help you pass assets to your children while avoiding gift and estate taxes.
1983 was the last year that Social Security recipients saw a cost-of-living increase steeper than the one just announced for 2022.
It’s an unfortunate reality that with the increasing number of natural disasters across the country, including fires, floods, and hurricanes, the chance that you could lose your house and possessions has become more likely. In the event of such a calamity, it is important that your estate planning and other important documents are beyond reach and easily retrievable.
All older Americans are vulnerable to financial abuse, but there are certain circumstances that make someone more likely to be scammed. An online survey can help older adults (or their caregivers) assess their risk of being exploited based on how they make financial decisions.
As COVID-19 cases start to rise again due to the highly contagious Delta variant, nursing homes are considering requiring staff members to be vaccinated.
Most people want to pass their assets to their children or grandchildren, but naming a minor as a beneficiary can have unintended consequences. Contact The Law Office of Aubrey Carew Sizer PLLC to learn how to properly leave assets for the benefit of a minor.
The benefit of a directed trust is it allows you to retain control while appointing someone to handle any special assets or conditions that the trust might oversee. In the case of a regular trust, the trustee is in charge of all aspects of the trust.
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.
A recent court case involving a power of attorney demonstrates the problem with using online estate planning forms instead of hiring an attorney who can make sure your documents are tailored to your needs.
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.
One main difference between a will and a trust is that a will goes into effect only after you die, while a trust takes effect as soon as you create it.
Buying long-term care insurance is one way to protect against the high cost of long-term care. However, this type of insurance may not be for everyone, so consider all your options. Determining whether you need long-term care insurance depends, in part, on your financial situation.
Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax efficiency, but there are potential problems to look out for. In a life estate, two or more people each have an ownership interest in a property, but for different periods of time.
COVID vaccines are starting to roll out to nursing homes across the country, signaling the beginning of the end of the pandemic.
Pets are members of the family, so it is important to consider how to provide for them in your estate plan just as you would the human family members.