What Are the Benefits of Having a Testamentary Trust?
There are various benefits to creating a testamentary trust. This article discusses the benefits of adding a testamentary trust to your estate plan.
Support a Charity – and Your Loved Ones – With a CLAT
A charitable lead annuity trust (CLAT) is an estate planning tool whereby a person creates a trust that initially benefits a charitable organization, foundation, or other qualifying entity for a defined period.
Protecting Spouses of Medicaid Applicants: 2023 Guidelines
The Centers for Medicare & Medicaid Services (CMS) has released the 2023 federal guidelines for how much money the spouses of institutionalized Medicaid recipients may keep, as well as related Medicaid figures.
Does Medicare Pay for Assisted Living?
Assisted living facilities support older adults with daily living while fostering their independence. Individuals who do not require round-the-clock nursing but need help with everyday activities like bathing, housekeeping, medications, and meal preparation can benefit from assisted living.
What to Do When Medicare Denies Coverage
If Medicare refuses to cover your care, do not assume this means you will have to take on the financial burden.
Medicare Open Enrollment Starts October 15: Is It Time to Change Plans?
Medicare's Open Enrollment Period, during which you can freely enroll in or switch plans, runs from October 15 to December 7. Now is the time to start shopping around to see whether your current choices are still the best ones for you.
What You Should Know About Required Minimum Distributions
Required Minimum Distributions (RMDs) are the minimum amounts a retirement plan account owner must take out each year. It is the responsibility of each retiree to take out the correct RMD from their retirement account each year.
Totten Trust Can Protect Your Money for Your Loved Ones
Totten trusts, or payable-on-death bank accounts, are an estate planning tool that allows you to transfer money to a chosen person upon your death.
Getting Medicare Food Benefits
Although original Medicare does not offer food benefits, some Medicare Advantage plans provide a grocery allowance or cover meal delivery.
IRS Raising Annual Gift Tax and Estate Tax Exclusions in 2023
Although inflation is generally nothing to be pleased about, the IRS recently announced inflation-adjusted changes to the annual gift tax annual and estate tax exclusions for 2023. If you are considering wealth transfer tax planning, these are welcome increases.