Medicaid is a state-federal partnership that provides medical benefit assistance to people who qualify, especially those over 65 years of age. However, in order to qualify, you also need to meet certain financial requirements such as asset limits. However, if you have made “uncompensated transfers,” that could lead to a period of disqualification from the program. Read on to learn more. Uncompensated Transfers … [Read more...]
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Avoiding Family Chaos in the Coronavirus Age
The novel “coronavirus” (also called “SARS-CoV-2”) causes the disease “COVID-19.” It first appeared in late 2019 and was reported to the World Health Organization (WHO) on December 31, 2019. Here’s a link to the WHO’s site for the latest global information. COVID-19 has impacted the lives of millions of people and countless events around the world. The coronavirus has infected over four million people around the world, including over a million in the United States. It has killed over 80,000 … [Read more...]
Low-Interest Loans: An Estate Planning Technique
The novel “coronavirus” (also called “SARS-CoV-2”) causes the disease “COVID-19.” It first appeared in late 2019 and was reported to the World Health Organization (WHO) on December 31, 2019. Here’s a link to the WHO’s site for the latest global information. COVID-19 has impacted the lives of millions of people and countless events around the world. The coronavirus has caused an unprecedentedly steep increase in unemployment and has roiled stock markets around the world. The resulting … [Read more...]
Tips to Help Siblings Avoid or Resolve an Estate Battle
KEY TAKEAWAYS Sibling disputes over assets in a parent’s estate can be avoided by taking certain steps both before and after the parent dies.Strategies parents can implement include expressing their wishes in a will, setting up a trust, using a non-sibling as executor or trustee, and giving gifts during their lifetime.After a parent dies, siblings can use a mediator, split the proceeds after liquidating assets, and defer to an independent fiduciary. Read the full article here … [Read more...]
When Should a Succession be Opened?
A succession should be opened as soon as practicable after the decedent’s death. Sometimes, it is necessary to immediately open successions to use the decedent’s bank accounts or assets to pay funeral or medical bills. Delay in opening a succession may cause problems. Often, successors wait many years to open a succession. As a result, they may run into problems such as lost documents or wills or face tax sales of homes for unpaid taxes. Also, waiting too many years to open a … [Read more...]
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