Death, it’s part of life. The comings and the goings never end. Sometimes it is an expected passing but too /many times, especially in the last couple of years, it can happen unexpectedly. Those are the toughest of times – when a spouse passes suddenly and unexpectedly. Despite the circumstances of your spouse’s passing, the Read More
Veterans’ Aid and Attendance benefit
One of the most overlooked financial resources for veterans in assisted living facilities is the Aid and Attendance benefit. Offered through the Department of Veterans Affairs, Aid and Attendance is a monthly, needs-based payment above and beyond the VA pension that can help cover the costs of long-term care. Aid and Attendance is for veterans Read More
Benefits Of Naming A Corporate Fiduciary
Benefits Of Naming A Corporate Fiduciary Many individuals who establish trusts choose to name a close friend or relative as trustee. However, there are many situations where naming a corporate fiduciary is a far better alternative. Acting as a trustee requires that the person have a good background in finance and tax. Failing that, the Read More
Resources For Older Adults
Resources For Older Adults During these times of heightened stress, we all need support. The National Council on Aging provides much-needed information to elders to help them deal with the problems that they confront daily. Here are some relevant and useful links: Retirement Insecurity during COVID Financial Assistance for Home Improvement for Older Adults Seniors Read More
Myths and Facts About Probate
Myths and Facts About Probate I just need a Will and a Living Will. This will avoid “probate” and allow someone to make medical decisions for me if I cannot express myself. Not true. A Last Will and Testament is a “road map” that expresses how someone wants their estate (financial and personal belongings that Read More
Five Dangers of DIY Estate Planning
Senior Life: Five Dangers of DIY Estate Planning In a society empowered to do-it-yourself (“DIY”), we turn to social media and an overwhelming number of websites and blogs to get step-by-step instructions on how to save money by doing it ourselves. In this environment of DIY, sometimes it can become unclear as to when a Read More
The Hidden Dangers of Joint Accounts
The Hidden Dangers of Joint Accounts Many people believe that joint ownership of bank accounts and real estate are an effective way to avoid probate and transfer money to loved ones. But while joint accounts can be useful in certain circumstances, they can have dire consequences if not used properly. Adding a loved one to Read More
What Is a Special Needs Trust?
What is a Special Needs Trust? A “special needs trust” is a specific type of trust that is established for a person with special needs to supplement the benefits the person with special needs may receive from government programs such a SSI and Medicaid. A properly drafted special needs trust will allow the beneficiary to Read More
Help for People with Disabilities
Help for People with Disabilities Federal legislation adopted in 2015 allows people with disabilities who became disabled before they turned 26 to set aside up to $14,000 a year in tax-free savings accounts without affecting their eligibility for government benefits. Generally a disabled person cannot have assets worth more than $2,000 without forfeiting eligibility for Read More
Tax Benefit of Nebraska Transfer on Death Deed
Tax Benefit of Nebraska Transfer on Death Deed The main asset of many retired couples is their home. It is common practice for the property to be jointly owned, so that in the event of the death of one of the couple, the home transfers smoothly to their spouse. We often recommend use of a Read More