Electronic wills are likely to play a large role in future estate plans. The ability to both create and store a document align has greatly facilitated the creation of estate plans. The Uniform Law Commission also recently passed the Uniform Electronic Wills Act, which has greatly influenced how many states…
Medicaid is state and federal funding that pays for long-term care costs, either at home, called “Community Medicaid,” or in a nursing home, called “Institutional” or “Nursing Home Medicaid.” The Medicaid rates change every year for income and asset requirements to determine eligibility for benefits. Following are the 2020 New…
In-vitro fertilization, also known as IVF, has its origins in the 1890’s when the first known case of embryo transplantation occurred in rabbits in Great Britain. By 1973, scientists were able to transplant a human embryo into a woman. The first human IVF pregnancy occurred 47 years ago in Melbourne,…
If you’re eligible for divorce benefits from the Social Security Administration (SSA), you can collect up to 50% of the amount your former spouse is eligible to receive by claiming your benefits at his or her full retirement age (FRA). Your FRA is either 66, 66 plus a few…
The COVID-19 pandemic has understandably left many people facing challenges. Remember that even the most difficult times often present opportunities, which currently includes an ideal situation to transfer assets to a loved one. The combination of decreased market values, lowered interest rates, and a high tax rate exemption has caused…
Creating a thoughtful estate plan is one of the greatest gifts anyone can leave their loved ones. It is important to update your will when major changes occur. These might include marriage, divorce, opening or closing a business, buying or selling real estate, or birth or death of an heir.…
Parents can make medical decisions for their children. After a child reaches the age of 18, however, and is viewed in the eyes of the law as an adult and a parent’s ability to make these decisions ends. Fortunately, through the use of a few simple estate planning documents,…
Losing a parent is not easy. While being prepared for the event might not make the emotional aspect any easier, it can help to eliminate the potential for additional problems. As a result, this article reviews some of the important financial steps that you can take after a parent passes…
Wills play an important part in the estate planning process. The best estate plans, however, include more than wills. Instead, the best estate plans anticipate the numerous complications that can arise at the end of a person’s life. Advance Healthcare Directives Medical powers of attorney and living wills…
Settling an estate, after the loss of a loved one while grieving, is a difficult process. For the weeks and months that follow the funeral, handling the estate of a deceased individual may quickly overwhelm survivors. The steps outlined below provide a guide to survivors through this tumultuous time. …