Blog

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 insurance can play a few key roles in an estate plan, depending on your age and situation in life. When considering policies, it is important to work closely with both your financial planner and estate planning attorney.

The growing popularity of cryptocurrency means it is increasingly something that must be considered when planning an estate. If you own cryptocurrency, providing instructions in your will is a must. 

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.

Many types of property and investments pass outside of probate and allow you to designate who will receive them after your death. It is important that these designations are kept up to date and are consistent with the rest of your estate plan. 

Every parent should ensure that their affairs are in order should something happen to them when their children are not yet of age. This is doubly true for parents of children with special needs.

If you think you, or your adult child with special needs, may qualify for Social Security's Supplemental Security Income (SSI) benefits, you should fill out an online disability report and then call your local Social Security Administration (SSA) office to complete your application.

There are a number of reasons for appointing a trust protector. Having a protector allows a long-term trust to be more flexible and adapt to factual and legal changes.

Many people mistakenly believe that Medicare covers a patient’s nursing home stay. Yet Medicare’s coverage of nursing home care is quite limited resulting in some Medicare recipients being discharged from nursing homes before they are ready.

Medicaid planning can be a difficult and confusing process. Avoid these common mistakes people make when planning to apply for Medicaid.

Revocable trusts are a very popular and useful estate planning tool. But the trust will be ineffective if you do not actually place your assets into it.

Revocable trusts are an effective way to avoid probate and provide for asset management in the event of incapacity but they only work if they are setup correctly and fully funded.

More and more transactions are done digitally, but estate planning has lagged behind technology. That may be changing, though.

While estate planning is important for married couples, it is arguably even more necessary for couples that live together without getting married.

Raising the minimum wage by as little as 10 percent would significantly improve the safety and health of nursing home residents, according to new research.

In order to be eligible for Medicaid, you cannot have recently transferred assets. Congress does not want you to move into a nursing home on Monday, give all your money to your children (or whomever) on Tuesday, and qualify for Medicaid on Wednesday.

If you are experiencing financial hardship due to the coronavirus pandemic, you may want to consider withdrawing money from your retirement account while you still can. The special exemption allowing early withdrawals without a penalty ends soon.

In some circumstances, immediate annuities can be ideal Medicaid planning tools for spouses of nursing home residents. Careful planning is needed to make sure an annuity will work for you or your spouse.

Medicare premiums are set to rise a modest amount next year but still cut into any Social Security gains. The basic monthly premium will increase $3.90, from $144.60 a month to $148.50.

Congress enacted a special provision that allows more people to easily deduct up to $300 in donations to qualifying charities this year.

Social media is flooded with ads for websites offering do-it-yourself wills and other estate planning documents. These digital services appear to offer a cost-effective and easy alternative to working with an estate planning or elder law attorney. Although these sites may appear convenient, you are taking a huge risk entrusting your wishes to a boilerplate form.

Pre-paying for your funeral is one way to ease the burden on your family following your death and make sure your wishes are carried out. Despite the benefits, pre-paid funeral plans come with risks, so if you are considering purchasing a pre-paid funeral plan, here are a few things to consider.