There are many ways that you can protect your assets as you get older. One of them is an irrevocable trust. This trust can be used to qualify for benefits like income based veterans benefits and Medicaid. This can be a much better way to handle your assets than simply gifting them to someone. Here [...]
A good estate plan will not only ensure that your wishes are taken care of, but will also protect your assets. Why do they need protected? First and foremost, you may need them. An estate plan helps you to manage your finances should you become incapacitated or unable to make decisions on your own. Secondly [...]
Are you working on setting up an estate plan? If you are then you may feel like you have to go it alone. This is far from the truth. There are many people that you can and should involve in your estate planning. Here are a few of them. […]
Having an up to date will, trust or estate plan can be critical in ensuring that your wishes are carried out in the end. Here are some events that should prompt you to head to your elder law attorney and have your plans brought up to date. […]
Have you sat down with an elder law attorney to discuss your estate plan? If you haven’t you should soon. While there are many services that offer you the ability to set up a will, there is much more to an estate plan than that. Here are some of the things that should be included [...]
Did you know that there may be instances where you are taxed on your Social Security benefits? Depending on what kind of retirement accounts you are drawing from there is a risk that your benefits could add to your total income increasing the amount you must pay in taxes. Here is some information to keep [...]
Social Security benefits are an important part of many people’s retirement finances. Because of this you want to be able to maximize the benefits that you are going to be receiving. Here are some tips that will help you maximize your benefits. […]
The spousal benefit can be a pretty confusing part of your Social Security benefits. For example, if you are a primary earner, but your low income earning spouse (who happens to be older than you) wishes to collect their spousal benefits based on your income they may not be able to. […]
Did you begin collecting your social security benefits sooner than you actually needed to? If you did this means that you could be affecting the amount of benefits that you are going to be receiving later in life. Fortunately there is something that you can do. It is called a Start Stop Start strategy that [...]
Is renting a better option for seniors than owning? While renting does come with the high cost of rent, there are some benefits that come along with renting a place over owning. It may be for you or your elderly loved one. Take a look at some of the benefits to renting versus owning as [...]