If you are operating a small business as a sole proprietor, you may feel as though it is the simplest way to proceed. You can claim profits and losses on your personal income tax returns, so you have a turnkey situation. All this is well and good until you are hit with a business-related lawsuit. … [Read More]
This Trust Is a Remarriage Estate Planning Solution for Parents
If you are getting remarried as a parent with children from a previous marriage, you may have two considerations. If you leave your spouse all or most of your resources, there would be no guarantees with regard to the inheritances that you want to leave to your children. Your surviving spouse could decide that they … [Read More]
Veterans Pension Can Provide Relief for Seniors
People that have served in the United States military make sacrifices, but they are rewarded in a number of different ways. There is a retirement pension that service members can receive after 20 years of service, and there is a separate Veterans Pension for seniors and disabled veterans. The rates have been increased for 2023, … [Read More]
What Is HIPAA and Why Should I Care?
HIPAA, or the Health Insurance Portability and Accountability Act, is a federal law that was enacted in 1996 to protect the privacy of individuals’ health information. HIPAA applies to all health care providers, insurance companies, and other entities that handle personal health information. The law sets standards for how this information can be used and … [Read More]
How to Cope With the Death of a Loved One
Death is an inevitable part of life, and it is something that we all must face at some point. Coping with the death of a loved one can be one of the most difficult experiences that anyone can go through. It is a time when emotions are high, and it can be hard to know … [Read More]
Medicaid for Seniors: 2023 Facts and Figures
It can seem like the Medicaid program will have no relevance if you know you will qualify for Medicare when you are an elder. This makes sense on the surface, but there is a major gap in the Medicare coverage that you should understand when you are anticipating your future expenses. Long-Term Care This program … [Read More]
These Tips Can Jumpstart Your Estate Plan
Some people drag their feet when it comes to estate planning because they don’t have enough basic information. With this in mind, we will provide a few tips in this post to give you some foundational knowledge to draw from going forward. Don’t fret about taxation unless you are a multimillionaire. You may assume that … [Read More]
2023 Caring.com Survey Reveals Widespread Estate Planning Unpreparedness
Caring.com conducts annual surveys to get a feel for the percentages of American adults that have estate plans in place. They release the results during the early portion of the year, and they have recently shared their 2023 findings. We will take a look at some of the important takeaways in this post. Overall Preparedness … [Read More]
These Advantages Add to the Appeal of Living Trusts
There are two significant benefits that living trusts provide that get a lot of attention. One of them is the fact that you can include spendthrift protections for a beneficiary that is not ready to handle a significant inheritance. The trust would become irrevocable after your death, and the beneficiary would not be able to … [Read More]
Generation Y Members Need Estate Plans
The millennials, or “Generation Y,” are now between 25 and 40 years of age. According to a survey that was conducted by Caring.com, less than 30 percent of Americans in this age group have estate plans in place. Obviously, people do not usually pass away when they are in their 20s, 30s, or 40s, but … [Read More]
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