If you’re single with no kids, or married without kids, you have some unique estate planning needs. You’ll require special strategies for health care, emergencies and division of your estate. Plan for extra care costs. Growing older without a built-in support team may mean you’ll have extra expenses for care. You may need to hire […]
Raising a child with special needs can be a rich experience. It’s also a costly one that comes with unique challenges for your financial future and estate plans. There is no one-size-fits-all recommendation, but here are some things to consider: Your future security: Protect your children by securing your own financial future. Start saving for […]
A land trust is a private legal agreement that transfers a property title from the owner to a trustee. The trustee agrees to hold that title for the benefit of another party. The creator of the trust, known as the trustor, is typically the primary beneficiary for their lifetime. This party retains complete use of […]
Imagine your grandfather left a portion of his estate to his sister, but Great Aunt Irma has been gone for years. In order to probate his will or other legal documents, you may need to find Irma’s date of death. If Aunt Irma passed away in the last 50 years, finding this information should be […]
Choosing nursing home care can be a big, emotional decision. Long-term care is a sizable investment, and many people struggle with entrusting their loved one’s care to someone else. Now some families are dealing with an additional hurdle, as nursing home closures are forcing some seniors to relocate, widening the distance families must travel to […]
When you hold an IRA, those funds can be distributed to the person you name as beneficiary or to an inheritance trust. Some IRA owners choose a trust because it gives them a degree of control over how the assets are distributed after they die. Before you name a trust as a beneficiary of your […]
Having a loved one with dementia can be scary, but add in access to a firearm and things become especially dangerous. Research shows that 45 percent of all adults aged 65 years or older either own a gun or live in a household with someone who does. For someone with dementia, the risk of suicide […]
Social Security survivor’s benefits provide a safety net to widows and widowers. But to get the most out of the benefit, you need to know the right time to claim. While you can claim survivor’s benefits as early as age 60, if you claim benefits before your full retirement age, your benefits will be permanently […]
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Caring for an ailing family member is difficult work, but it doesn’t necessarily have to be unpaid work. There are programs available that allow Medicaid recipients to hire family members as caregivers. All 50 states have programs that provide pay to family caregivers. The programs vary by state, but are generally available to Medicaid recipients, […]
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The value of an estate is important for tax purposes. There are two estate valuation approaches allowed by the federal government. Below is a look at why it may be better to select one over the other. Calculating Values Fair market value is used for estate asset valuation. For assets such as bank accounts, it’s […]