An honor and responsibility As agent, you will have the right and responsibility to make financial decisions for the principal if he or she ever loses the ability to make those decisions. You should feel honored that someone trusts you enough to task you with this, but it is an enormous responsibility. If you don’t […]
The cost of a nursing home and how to pay for it Recent surveys have indicated that the median annual cost of a semiprivate nursing home room is more than $96,000, with a private room costing more than $108,000 a year. To make matters worse, this cost is growing with the rate of inflation. This […]
Making your wishes known now A living will, also called an advance directive for a natural death, is very different from the will you make out to dispose of your assets. What we normally think of as a will is technically called a testamentary will, and it is not considered finalized until after your death. […]
A Special Needs Trust are also known as Supplemental Needs Trust and are created often times to protect assets for a party who is receiving SSI Disability or Medicaid. When an individual is disabled and is receiving government benefits because they do not have many assets, then it is important for them not to receive […]
A Medicaid Asset Protection Trust is created by an individual who desires to protect assets in case in the future they might require nursing home services. The creator of the trust is actually the party who is placing assets into the trust but once the trust is created and assets are conveyed to the trust […]
Help with financial planning The statistics around retirement are scary. More than a quarter of a million Americans turn 65 every month, and 80 percent of Americans between the ages of 30 and 54 believe they will not have saved enough for retirement. Forty-five percent (45%) of Americans have nothing saved for retirement, and the […]