Long-term care is the care you need if you can’t perform daily activities on your own for an extended period of time. There are a number of different ways that this kind of care can be provided.
While it remains unclear exactly what tax changes President Biden’s administration will usher in, two possibilities are that he will propose lowering the estate tax exemption and eliminating the stepped-up basis on death.
All long-term care costs, particularly assisted living, rose sharply in 2020, according to Genworth’s latest annual Cost of Care Survey. The rises were due in part to increased costs brought on by the coronavirus pandemic.
COVID vaccines are starting to roll out to nursing homes across the country, signaling the beginning of the end of the pandemic. Once your loved one has had both doses of the vaccine, you may be able to visit, but precautions are still necessary.
Life insurance can play a few key roles in an estate plan, depending on your age and situation in life.
One area that causes a lot of confusion with regard to Medicaid is the look-back period. What exactly does the look-back period mean for Medicaid applicants?
Do you need an attorney for even “simple” Medicaid planning? This depends on your situation, but in most cases, the prudent answer would be “yes.”
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.
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.
Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax efficiency, but there are potential problems to look out for.
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