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 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.
Although original Medicare does not offer food benefits, some Medicare Advantage plans provide a grocery allowance or cover meal delivery.
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.
A MAPT is one option a person may use to protect their assets from Medicaid and nursing homes or long-term care. Consider some pros and cons of MAPTs to see if this long-term care strategy is right for you.
Although estrangement can significantly impact individuals’ lives, it is not a legal term and, in many cases, might not have a legal effect.
Fortunately, receiving a diagnosis of dementia or Alzheimer's does not mean that you cannot execute legal documents or make decisions about plans for your future finances and health care.
Coverage of housekeeping services can depend on several factors.
The author, Chloe JonPaul, uses her own experiences to offer tips and advice to families visiting relatives in a nursing home.
Consult a professional well in advance of when the loved one needs to enter a nursing home. MEDICAID AND MEDICARE RULES ARE EXTREMELY COMPLEX. Additionally, various allowances and figures are updated frequently and the figures shown in this article may be out of date