There are many parts to an Estate Plan. The Revocable Trust is just one part. It’s important to coordinate the various parts of the Estate Plan. Read on to learn more. … [Read more...] about It’s Important to Have a Coordinated Estate Plan
Estate planning is sometimes reduced to the execution of a simple will, but there are some other details to take into consideration. If you want to make sure that all your bases are covered, you should take a more comprehensive approach. With this in mind, we will look at some frequently overlooked components in this post. Letter of Last Instructions The executor is the administrator when a will is used, and a trust is administered by a trustee. Leaving instructions with regard to the way … [Read more...] about Your Estate Plan May Have Missing Parts
This is the second in a two-part series on Roth IRAs. The first part reviewed the basics of Roth IRAs. Read on to learn more. … [Read more...] about Roth IRAs Can Be a Great Planning Strategy: Advanced
People sometimes make assumptions based on extrapolations that are incorrect, and this enters the picture when it comes to the need for probate. You may hear that the probate process is necessary when someone passes away without a will or a trust. This can lead to the belief that probate would not be needed if you do in fact execute a simple will. In fact, this is not the case at all. If you are passing assets on to your family with a will, the executor that is named in a will would admit … [Read more...] about Is Probate Necessary If You Have a Will?
In this post, we are going to look at the provisions that are made for a healthy spouse when their spouse is applying for Medicaid. Why should you worry about Medicaid eligibility when you will qualify for Medicare when you are 65? Simply put, Medicare does not cover long-term care. Nursing homes and in-home caregivers are very expensive, and 52 percent of elders will need paid care at some point according to the United States Department of Health and Human Services. Medicaid will pick … [Read more...] about Medicaid Planning: What Happens to the Beneficiary’s Income?