Medicare Premiums to Increase Slightly in 2021
Medicare premiums are set to rise a modest amount next year, but still cut into any Social Security gains. The basic monthly premium will increase $3.90, from $144.60 a month to $148.50.
Three Reasons Why Giving Your House to Your Children Isn't the Best Way to Protect It From Medicaid
You may be afraid of losing your home if you have to enter a nursing home and apply for Medicaid. While this fear is well-founded, transferring the home to your children is usually not the best way to protect it.
Watch Out for These Potential Problems with Life Estates
Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax efficiency, but there are potential problems to look out for.
Annuities and Medicaid Planning
Immediate annuities can be ideal Medicaid planning tools for spouses of nursing home residents. Careful planning is needed to make sure an annuity will work for you or your spouse.
Don’t Forget to Fund Your Revocable Trust
Revocable trusts are a very popular and useful estate planning tool. But the trust will be ineffective if you do not actually place your assets in the trust.
How to Fix a Required Minimum Distribution Mistake
The rules around required minimum distributions from retirement accounts are confusing, and it’s easy to slip up. Fortunately, if you do make a mistake, there are steps you can take to fix the error and possibly avoid a stiff penalty.
The Hazards of Do-it-Yourself Estate Planning
Many websites offer customized, do-it-yourself wills and other estate planning documents. Although these products are convenient, using them could create serious and expensive legal problems for heirs.
Receiving an Inheritance While on Medicaid
For most people, receiving an inheritance is something good, but for a nursing home resident on Medicaid, an inheritance may not be such welcome news
A Modest Social Security Increase for 2021
The Social Security Administration has announced a 1.3 percent rise in benefits in 2021, an increase even smaller than last year’s.
How to Divide Up Personal Possessions Without Dividing the Family
Allocating your personal possessions can be one of the most difficult tasks when creating an estate plan. To avoid family feuds after you are gone, it is important to have a plan and make your wishes clear.
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