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Many people are under the impression that while Medicaid will pay for nursing home care it does not cover the cost of home care. The truth is that in New York, Community Medicaid will indeed pay for home care. It will also pay for private duty nursing, p ...
On October 1, 2020 applicants for Community Medicaid will be subject to a new look-back period of 30 months. This means that if you apply and are eligible for Community Medicaid on or after October 1, and you made non-exempt asset transfers within 30 m ...
Last time we looked at planning for blended families in general terms. Now let’s discuss some specific trusts that you might want to consider. One such trust, which provides an excellent form of asset protection, is called a Qualified Terminable Intere ...
Planning for blended families can present unique challenges, in part because the interests of a current spouse and any mutual children often conflict with the desire to provide for one’s children from a previous marriage. For example, if all of an estate’ ...
While there may have been a time when people looked to their employers and Social Security to finance their retirement, those days are long gone. The reality today is that to enjoy a comfortable retirement, not to mention the ability to provide for your l ...
Deciding whether to choose a Roth IRA or a Traditional IRA is an important decision and can have major financial consequences. Both options, however, are excellent ways to save for retirement. Let’s look as some of the biggest differences between the two. ...
Moving to a new home is stressful in and of itself. When the move involves a senior relocating to a nursing home or assisted living facility, the situation is considerably more complicated, both emotionally and physically. Fortunately, a number of comp ...
Approximately 20 percent of Americans over the age of 65 have been victimized by some form of financial abuse, with the average loss per victim exceeding $120,000. While financial abuse is sometimes perpetrated by family members or "friends," it is often ...
A will can help you accomplish a number of important planning goals. For instance, it allows you to control how your assets are distributed after you pass away. Without a will, your assets will be distributed according to what is known as intestate succes ...
Another reason a will isn’t enough is that the ownership of many assets transfers outside the will, including life insurance, annuities, retirement accounts like IRAs and 401(k)s, jointly-owned property and more. The beneficiary designations of these asse ...
