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August 2024

Promissory Notes and Medicaid Planning

What is Medicaid? Nursing homes in Pennsylvania typically cost $150,000 - $180,000 a year. Medicare and health insurance don’t pay. Medicaid does, without any dollar caps or time limits. But you must first go broke in order to qualify and, if you’re married, your spouse could forfeit a substantial part of his or her estate

Inheritance Mistakes to Avoid

Receiving an inheritance can be a mixed blessing. Along with welcome financial gain come responsibilities that if not properly handled can give rise to many unanticipated problems. Here are some mistakes and how to avoid them. 1. Not Considering Potential Taxes You do NOT pay income tax on an inheritance. Instead, there are death taxes,