Can a nursing home make a person who is in the home liquidate money in an IRA and spend it down to pay for care, before they can apply for Medicaid?
To ensure animals’ well-being, you should pick a caregiver and set up paperwork, funding.
I came in with Halley’s Comet in 1835. It is coming again next year, and I expect to go out with it. The Almighty has said, no doubt: ‘Now here are these two unaccountable freaks, they came together, they must go out together.’
Many people equate estate planning with older people who have more assets and more to protect. However, that doesn’t mean younger people should ignore the benefits of estate planning. According to Caring.com, only 34% of adults ages 35 to 44 have a will and 18% of adults ages 18 to 34 have one.
Seventy-seven percent of respondents in a recent survey said estate and legacy strategies were important for everyone, not just wealthy individuals, yet only 24% said they had taken the basic step of designating beneficiaries for all of their accounts.
Healthcare can be a daunting prospect for seniors, namely because health issues can creep up as people age, and because Medicare comes with a lot of hidden costs that seniors aren’t well-prepared for. However, if there’s one health-related expense that can really catch retirees off-guard, it’s none other than long-term care.
There are milestones in every life. For many, graduations, marriage, children, opening a business and retiring are among these milestones.
If you have an individual retirement account, do you recall filling out a beneficiary designation form? That’s the document that allows you to direct the IRA custodian to transfer your IRA to the people you name in the form.
When the ‘Queen of Soul’ Aretha Franklin died last year, it was believed that she hadn’t prepared any kind of estate plan, including a last will and testament. However, a few months ago, three handwritten wills were found in her home near Detroit. Two were in a locked closet and one was stuffed beneath the cushions of a couch!
As parents age, families sometimes struggle with how to best keep their parents’ financial affairs in order. One common approach is for aging parents to put one or more of their children on their investment accounts, bank accounts and real property.
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