Medicaid Planning Protects Your Home

Your most valuable property may be your home, which is true for many people. You likely want your children to inherit that value when you pass away.

However, you may also have concerns about planning for the future, especially if your health declines and you need expensive long-term care. You may be aware that Medicaid can pay for these services. However, Medicaid rules say you can own no more than around $2,000 in assets to be eligible. Now what?

Baby Boomers: Inheritance Conversations With Your Children

Not talking to your adult children about their inheritance comes at a cost. Do what you can to manage expectations for adult children as they forge their financial plans. Knowing their general inheritance situation can change their decision-making process and lead to better outcomes.

Report: The Current and Future State of Estate Planning

In a survey published this past fall, more than 1,000 participants aged 18 to 99 shared insights on their estate plans – or lack thereof. In fact, more than half said they have not consulted an estate planner regarding a trust or will.

Estate Planning: Should I Divide My Assets Equally?

Even if your children get along well, the distribution of your assets can require conflict resolution skills. Without previously experiencing any significant conflicts, even close siblings can struggle to maintain happy family relationships when settling your estate.

What to Know About Creating a Living Will

Creating a living will ensures your future health care decisions and plans are respected. A living will is a legal document outlining medical treatment preferences and end-of-life care if you can’t communicate or make decisions for yourself.