Intestacy refers to the death of someone without a will. If this happens, a probate court oversees the distribution of the decedent’s assets. Also known as intestate succession, it has similarities to the probate process when a will is present.…
In 2023, Medicare Part B premiums will be reduced and the cost of living adjustment (COLA) will be the highest in decades. It is being touted as a win for the American people. According to the Social Security Administration, there…
The succession and estate planning of farm and ranch real estate, livestock, and equipment present unique challenges. There is a common misconception that federal estate taxes threaten farm or ranch property, preventing assets from getting to rightful heirs. Over the…
When it comes to estate planning, no matter where you are in the process or whether you’re just starting to consider your options, you probably have questions about how your assets should be distributed. A trust can be a great tool…
When someone names you executor or personal representative of their estate, they believe you will be trustworthy to handle their assets and affairs after their death. Even though the decedent nominated you to be their executor, you will still need…
You may face additional costs to meet your special needs if you live on a fixed income despite being constrained by your medical condition. And your expenses are always higher than most, from food to medical care and other costs due…
Elder law and estate planning are often used interchangeably, but there are significant differences between them. While some overlap exists between the two, learning and implementing strategies from both law practice types is crucial to prepare for successful aging and…
Those who believe Medicaid planning only involves meeting strict income and asset limits may be surprised. You will also need to prove you need the level of care typically found in nursing homes. These health eligibility rules are valid if…
Even though having open and honest conversations with your family about your mortality is a sobering experience, it is prudent to do so. No one relishes the thought of their demise, and yet with forethought, you can ensure that your estate…
Most seniors believe that spending down their assets is the only way to qualify for Medicaid, which helps low-income seniors with limited income and assets afford health care and long-term care. While this is true in some cases, proactive Medicaid…