As seniors age, the need for long-term care increases, particularly when they cannot do the activities of daily living (ADL), such as getting dressed, bathing, or preparing meals. Care in a nursing home or skilled nursing facility (SNF) may be appropriate for these older adults. However, it’s one of the biggest expenses Medicare beneficiaries are likely to face.
The first SECURE Act extended the beginning date for taking required minimum distributions from the year after the account owner reaches age 70½ until they reach age 72. Just three years later, ‘SECURE Act 2.0’ has extended this age to 73, and offers a further provision for extending it again, to age 75, beginning in 2033.
If you have a child or grandchild with disabilities, one of your biggest worries is what will happen when you are no longer around to provide aid.
A qualified charitable distribution is a direct transfer of traditional IRA funds to a qualified charity.
As the American population of seniors continues to expand, the need for intentional estate planning becomes more urgent, especially for the children of aging parents.
One often unrecognized fact regarding drug pricing is the difference in bargaining power depending on what agency or group is doing the bargaining.
Understanding the different treatment of gifts by the IRS, Medicaid and VA systems can ensure that property passes as expected.
As government programs do not cover all expenditures related to these categories, ABLE accounts can be used to pay for shortfalls.
A special needs trust is a popular strategy for those who want to help someone in need without risking that the person will lose their eligibility for programs that require their income or assets to remain below a certain limit.
If you’re a caregiver, part of your job may be to keep track of your loved one’s legal affairs. You probably know — or are learning — that it’s a big responsibility.