Do I Need a Will or Trust?
Yes! Everyone needs a will, trust, or both to ensure your legacy is passed on in the way you intend, to provide for children, spouse, and family members, and in the case of trusts, to avoid [...]
Medicare’s Controversial Direct Contracting Program Hits Biden Administration’s Radar
The Biden administration is hearing mounting calls to end a program that advocates warn will radically transform Medicare – and the administration is getting pressure in response from the [...]
When to Avoid Naming a Trust as Beneficiary of Your Retirement Plan
Naming a trust as a beneficiary of your retirement plan can be a good idea in some circumstances, but it can be dangerous if you are worried about creditors coming after your estate.
Should My Dad Move His Money Out of an IRA and Into an Account in My Mom’s Name Before Applying for Medicaid?
Most of my parents’ money is in an IRA that is in my dad's name. My mother has very few assets in her name. He is older and may need to go into a nursing home in a few years. He has a Roth IRA [...]
Millions of People Could Lose Medicaid Coverage When the Pandemic Is Declared Over
While declining COVID-19 cases are good news, the end of the pandemic could mean millions of Medicaid recipients will lose their coverage. Federal law has prevented states from terminating [...]
Earned Income Tax Credit Now Available to Seniors Without Dependents
Working seniors without dependents may qualify for the earned income tax credit when they file their 2021 tax returns. The tax credit assists those with low incomes but was previously [...]
What Documents Are Required for a Medicaid Application?
Medicaid applicants must prove that they have limited income and assets in order to be eligible for long-term care services. Before beginning the application process, it is helpful to [...]
What Will Happen When the Gift and Estate Tax Exemption Gets Cut in Half?
Although the vast majority of Americans have estates that fall under the estate and gift tax exemption, the exemption is set to be cut in half in 2026. Proper planning may be necessary to make [...]
Discretionary Trusts – How to Protect Your Beneficiaries from Bad Decisions and Outside Influences
Although leaving your hard-earned assets outright to your children, grandchildren, or other beneficiaries after you die may seem like the easiest and most desired form of distribution, this [...]
If You Don’t Want an IRA Distribution, You Can Donate It to Charity
Not everyone wants to take the required minimum distributions from their retirement accounts right away. If you don’t want your distribution, one option is to donate it to charity and get a [...]
