You want to qualify for Medicaid, but your assets go above the predetermined thresholds. What now?
One option is to spend-down your estate. You need to eliminate some of the assets you control to get below the threshold.
There are numerous ways to do this, but many people simply gift Continue reading
If you are a mature Texas resident, or if your parents are getting on in years, you may be concerned about what will happen if you or they eventually need nursing home or other long-term care. Even if you and/or your parents are relatively well-to-do financially, few people can Continue reading
A medical power of attorney appoints an agent to act on your behalf. For most people, this agent is a direct relative, such as a child. This person can then make decisions when you are not able to do so.
For instance, you may suffer a stroke and go into a coma. Doctors need to do Continue reading
Are you unsure exactly how much long-term care planning you need to do? Maybe you think it’s not that expensive or that you’ll easily just pay for it out of pocket.
Some people can, but financial experts warn that those people tend to be millionaires. After all, the medical cost for Continue reading
If you’ve accumulated considerable assets, you want to do everything legally possible to protect those assets from lawsuits, taxes and creditors both while you’re still around and after you are gone.
There are a variety of ways to protect your home and other assets, including:
Estate planning and probate issues are often misunderstood. For example, many people believe that estate planning is important only for extremely wealthy people, but that isn’t true.
You can benefit by taking steps now to plan for retirement, pass property down to heirs and ensure Continue reading
The number of Americans who are 65 years old or older has been climbing for decades, and it is predicted to keep doing so. Some believe that by 2050, one out of every five people in the country will be at least 65.
As noted, that’s part of a larger trend. In 1950, the 65-year-olds’ Continue reading
One of the biggest mistakes people make with estate planning is simply putting it off. They procrastinate. They forget about it. They don’t want to talk about. They figure those are decisions best made another day.
In some cases, the real reason is that they do not want to think about Continue reading
One thing you want to think about when doing long-term care planning is your life expectancy. Of course, things like accidents and disease can cause anyone to pass away well before this age, but it still gives you a reasonable figure when planning financially for a realistic future. Continue reading
Estate planning is critical, and it’s far more than just making a will. You also need to think about things like long-term care planning, Medicare, Medicaid, Social Security and much more.
The financial impact of even one small mistake can be huge. With that in mind, here are five Continue reading