明星黑料

A common question we get is, does Medicare pay for a nursing home? The Medicare program is administered jointly by the state and federal government. Medicare is available to adults 65 years of age and older, or to anyone under the age of 65 who is entitled to Social Security Disability.

Question: The last time I was in the hospital I signed a DNR. Do I still need a health care proxy and living will?

Question: I have always heard that it is a good idea to review your beneficiary designations on financial accounts and life insurance policies periodically; do you have any suggestions?

A revocable trust is not used in Medicaid planning. According to the Medicaid program, assets in a revocable trust are still considered available resources for eligibility purposes.

Question: My wife and I are in our mid-forties. We have two children ages 10 and 13. Should anything happen to my wife and I, how can I ensure that my sister is given legal custody of my children?

Question: Someone told me that assets with named beneficiaries are not subject to estate tax, is that correct?

Question: My mother is a widow and she lives with me. She has an IRA with $10,000 and about $2,000 in her checking account.

In a recent United States Supreme Court decision, the Court unanimously found that IRAs that are inherited are not protected from creditors in a bankruptcy proceeding because they are not considered 鈥渞etirement funds鈥� as interpreted by the Bankruptcy Code.

There are several planning methods that can be utilized throughout your lifetime to reduce or eliminate taxes upon your death. Gifting is one option to avoid estate taxes.

For certain retirement accounts, the IRS requires you to take distributions based upon your life expectancy once you reach the age of 72 陆 (the required age was raised from 70 陆 with the passage of the SECURE Act in December 2019). As a result of the COVID-19 emergency, the CARES Act suspended the requirement to take these distributions in 2020.