As parents, you have taken on an important responsibility to care for a child with special needs. Financial and estate planning for families that have children with special needs is extremely important because the details matter and can have life lasting repercussions for your loved one. The average cost of raising a child from birth… Read More »
Page 32
Medicare, MassHealth, And Planning For Long-Term Care
Many people are confused about the difference between Medicare and MassHealth as it pertains to the challenge of paying for expensive long-term care. This is not surprising. The two programs sound similar and both provide for medical care. Let’s start with a brief definition of each program. Medicare is an entitlement program. Everyone who reaches… Read More »
In a Multi-Generational Home? You Need Estate Planning
Whether you’re part of a big family unit under one household with members of many generations or if you’ve recently blended your families with a new spouse, estate planning should be at the top of your to-do list. It’s very hard to think about all the different ways that your life is affected when you… Read More »
Long-Term Care Planning Should Occur Well in Advance
If you’ve been contemplating the benefits of long-term care, it’s well worth it to look at this issue many years in advance. Most people have heard on a regular basis about updates to Medicaid and Medicare. This information can be extremely confusing or even overwhelming for someone who does not know at what point in… Read More »
Blended Families Have Unique Estate Planning Considerations
Every person can benefit from the process of estate planning, but it is even more important for those who are entering a blended family or have had multiple possible divorces. Blended families present unique estate planning challenges and considerations, but people who fail to update their documents in line with the new shifts in their… Read More »
Just One Estate Planning Mistake Could Lead to A Significant Tax Bill
Many people don’t recognize that there’s a huge difference between inherited and gifted assets, and that this could cost your beneficiaries significantly in the form of taxes. If your parents are nearing retirement age and looking into proper estate and financial planning, they may be interested in transferring assets to your name to ensure that… Read More »
Passing Away Without a Will Sets Up Problems for Your Loved Ones
You may assume that you don’t need a will or that your future involving estate planning is far off or simply unnecessary because you don’t have enough assets, but far too few adults in the United States have a will in comparison with the number of people who should. Dying without a will can pose… Read More »
Have You Neglected to Plan for Disability or Incapacity?
In addition to establishing documents that will help you pass on your assets to your loved ones in the future, you should also think carefully about whether or not you have planned for you own potential disability or incapacity. It is never easy for people to contemplate their own future, particularly, if it means they… Read More »
Plan for The Worst and Hope for The Best with Your Estate
Far too many people put off the process of estate planning because they assume that it won’t happen to them. As anyone who has lived through the unfortunate experience of watching a loved one pass away suddenly and unexpectedly can attest, it is very important to plan for the worst while still hoping for the… Read More »
What Would You Do with An Extra 30 Years in Your Life?
For many years, estate planning and retirement planning strategies have focused on enabling someone to live a comfortable retirement in which they may be able to pass on a portion or the vast majority of their accumulated assets to their loved ones when they pass away. But with increasing health care outcomes and better longevity,… Read More »