Chances are, your home is full to the brim with cherished memories of family and friends. But, as you get older, you may start wondering what exactly will happen to your home when you pass away. Fortunately, a life estate can take away the uncertainty of this thought by legally assigning an heir to receive your property without interference from court proceedings.
People with children who cannot support themselves need to think well past their own lifetime and figure out how to provide for children after they are gone.
Political instability, rampant inflation and the specter of recession are looming threats to our clients’ financial future, which directly impacts their ability to take care of themselves at a point in their lives when they are likely to need care or other age-related services.
The intent of the laws and regulations is to allow the community spouse to have enough income and assets, so that he or she has enough income and assets to continue to live at home, whether that be a home, an apartment, or other living place.
As government programs do not cover all expenditures related to these categories, ABLE accounts can be used to pay for shortfalls.
As many family caregivers know all too well, caring for an elderly loved one can overwhelm you quickly.
Special needs trusts can help fund quality-of-life improvements for the beneficiary, such as a phone, a trip or a private room in a group care facility.
The Estate of The Union Season 2, Episode 2 – The Consumer’s Guide to Dying is out now! Dealing with a funeral home after the death
For disabled persons receiving financially based government benefits, supplemental needs trusts (‘SNTs’) can safeguard benefits and serve as an effective estate planning tool.
If caregiving looms in your future — and it likely does if you’re a daughter, an only child or the one (if you are, you know what I mean) — take time now to protect your financial life.
