Movies, television, and books like to present wills in dramatic ways--handwritten notes, videos, deathbed utterances--but what actually makes a will & testament valid? The main difference between a will & testament is the "will" focuses on real property while the "testament" is meant for personal properties like household goods, monies or vehicles. The law varies
If you have been appointed the trustee of a trust, it is a strong vote of confidence in your judgment and trustworthiness. It is also a major responsibility. A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a "trustee," holds legal title to
Siblings do not always receive equal shares of a parent's estate. Sometimes the inequality is intentional and sometimes it is accidental. Regardless of how it happens, it can cause arguments among the children. However, there are some steps parents can take to promote family harmony. If you do not intend to leave your children unequal
Federal law requires that beginning on April 1 of the year after you reach age 70 1/2, you must begin withdrawing a minimum amount "retirement account distribution" from your non-Roth individual retirement account (IRA) or 401(k) accounts. These withdrawals are called required minimum distributions (RMDs). But what if you die after age 70 1/2 and
It is a very good idea to create advance directives in order to plan for the possibility that you may one day be unable to make your own medical decisions. In doing so, there can be confusion about the difference between a living will and a "do-not-resuscitate" order (DNR).
After a Medicaid recipient dies, the state must attempt to recoup from his or her estate whatever benefits it paid for the recipient's care. This is called "estate recovery." For most Medicaid recipients, their house is the only asset available, but there are steps you can take to protect your home. Life estates For
Hospital patients who need additional care after being discharged from the hospital are usually sent to either an inpatient rehabilitation facility (IRF) or a skilled nursing facility (SNF). Although these facilities may look similar from the outside, Medicare offers very different coverage for each. While you may not have complete say in where you go
Q: I have read that a Medicaid applicant won't be penalized for making transfers to a disabled child during the look-back period, but I would like to know if there is an age limit for the child. My mother has Alzheimer's disease, and I am her agent under a power of attorney. I am considered
Q: My dad currently lives in an adult family home. We spent down his retirement and savings to pay for the facility, and then he applied for Medicaid. The State of Pennsylvania denied him Medicaid benefits for being over the asset limit because he owns an old motorhome. The state is valuing the motorhome well
Social Security survivor's benefits provide a safety net to widows and widowers. But to get the most out of the benefit, you need to know the right time to claim. While you can claim survivor's benefits as early as age 60, if you claim benefits before your full retirement age, your benefits will be permanently
