Estate planning for blended families is key to a smooth inheritance process, especially since probate rules and intestate succession law do not treat step and biological children the same when it comes to inheriting.
As the U.S. population ages and life expectancies increase, the need for long-term care is becoming an important consideration for many individuals and families.
Trusts can offer many benefits, including allowing assets to pass directly to beneficiaries and charitable organizations without going through probate, minimizing taxes, and protecting your legacy from creditors.
Though Medicaid exists to help those who need it, navigating the specifics of what it covers and does not cover can be daunting. Here are highlights on the basics of Medicaid coverage.
In most states, spouses can purchase and own property separately from one another. However, in community property states, if one spouse purchases property, it is the property of both spouses. This has implications for both estate and tax planning.
An intentionally defective grantor trust allows wealthy families to transfer assets from one generation to the next while achieving significant tax savings. IDGTs are especially useful if you have assets that will appreciate significantly over time.
Parents usually want to leave their children equal shares of their estate, but equal isn’t always fair. If you plan to provide more (or less) for one child in your estate plan, preparation is important.
If your spouse dies, you may have to decide whether or when to sell your house. There are some tax considerations that go into that decision.
In an alarming number of cases, private Medicare Advantage plans are denying coverage for medical services that would be covered under original Medicare, according to a federal investigation.
The COVID-19 pandemic has caused nursing home staffing shortages across the United States, even forcing facilities to close, but some states have been hit harder than others.
