Estate planning is essential for organizing asset distribution, managing property, and preparing for incapacity. Learn how wills, trusts, and powers of attorney protect your family and assets.
The Medicaid look-back period is a 60-month timeframe during which asset transfers are reviewed to determine eligibility for benefits. Improper transfers may result in penalties, delaying coverage.
The new Tax Cuts and Jobs Act allows families to roll over up to $15,000 annually from 529 savings accounts to ABLE accounts for the same or a family member beneficiary.
Some people become disabled as the result of a work-related illness or injury. In these cases, the individual may be eligible for both Social Security Disability Insurance (SSDI) and workers’ compensation benefits. Unfortunately, their total benefits may be limited by what is known as the “workers’ compensation offset.”
Life insurance can be beneficial in replacing lost income for young families, but as people get older, it can also serve a purpose as part of an estate plan.
In recent years, nursing homes have increasingly asked — or forced — patients and their families to sign arbitration agreements prior to admission. By signing these agreements, patients or family members give up their right to sue if they believe the nursing home was responsible for injuries or the patient’s death.
In 2017, Social Security benefits will increase by 0.3%, resulting in a $4 monthly rise for the average recipient. However, higher Medicare Part B premiums may offset this gain.
One constant thing we see daily in our office when family members are confronted with the task of caring for their loved ones is caregiver burnout. As the population ages and more adults are finding themselves having to juggle their lives while caring for an aging parent, the number of people acting as caregivers for their parents has skyrocketed.
