You have likely heard of the Medicaid program but you might not be as familiar with its eligibility guidelines. After all, if you have never needed to qualify for Medicaid benefits, why would you? Many people go their entire working years without ever worrying about their ability to qualify for Medicaid benefits. However, be warned. Applying for medicaid as a senior is all too common if you need long-term care. Unfortunately, people often fail to plan ahead for the possibility that they will … [Read more...] about Applying for Medicaid as a Senior
Famous Estates-Champ or Chump?-Mickey Rooney
Mickey Rooney's Big Personality Mickey Rooney was an American actor of film, television, Broadway, radio and vaudeville. His career stretched across nearly nine decades and included his part in more than 300 films. From birth to death, Rooney overcame the constant evolution of cinema. He was one of the few to make the jump from silent film to sound and certainly one of the last of his generation to end his career in acting. He was a man who transcended art styles, from Broadway to character … [Read more...] about Famous Estates-Champ or Chump?-Mickey Rooney
Kiddie Tax is Worse Than Ever
The Kiddie Tax can apply to the unearned income of children. Read on to learn if this tax applies to you or your children. Also, learn ways to avoid the Kiddie Tax. Kiddie Tax is Worse Than Ever … [Read more...] about Kiddie Tax is Worse Than Ever
Why You Should Not Try to Revoke a Will Yourself
What should you do if you have a Last Will and Testament that you wish to change or revoke? One frequent mistake is to simply write the words “Revoked” on the document; however, that may not accomplish what you intend it to – in fact, it may not accomplish anything. Understanding why you should never write on your Will is important. Your Last Will and Testament typically serves as the foundation for a comprehensive estate plan. Like most legal documents, your Will should be reviewed and … [Read more...] about Why You Should Not Try to Revoke a Will Yourself
Famous Estates-Champ or Chump? Geraldine Ferraro
Sometimes we must take a step back to thank those who helped us get where we are today. Geraldine A Ferraro is not a particularly well recognized name. Yet, she blazed the trail for famous women in leadership. Ferraro was the first woman to run for vice president in the United States. While she might not have found victory, she took on the weight of being the first. In many ways this is a triumph all its own. Ferraro believed that “some leaders are born women” and she successfully shifted the … [Read more...] about Famous Estates-Champ or Chump? Geraldine Ferraro
What is a GST Trust?
A Generation-Skipping or “GST” trust can be a good way to keep assets out of the taxable estate of a beneficiary and yet still allow them to be used for the beneficiary’s benefit during life. Read on to learn more about this type of trust and whether it might make sense for you. What is a GST Trust? … [Read more...] about What is a GST Trust?
Texas Trivia-What was the population of Houston in 1900?
Houstonians Hidden Heading Roughly 45,000 Houstonians were alive to celebrate the dawn of the year 1900! Comparatively, the population of the largest city in the United States, New York City, already stood at nearly 3.5 million. Little could the citizens of Houston in 1900 have guessed that their quaint Texas town would flourish into the fourth largest city in the nation by 2016. Presently, there are about 2.3 million inhabitants of the city of Houston. Furthermore, there are more than 6.5 … [Read more...] about Texas Trivia-What was the population of Houston in 1900?
What Is The Purpose Of A Living Trust?
What is the purpose of a comprehensive estate plan? An estate plan includes a number of different tools and strategies that all work together to accomplish your various estate goals and objectives. Although every estate plan is unique, one common addition to an estate plan is a living trust. So, what is a living trust? Why should you implement it into your estate plan? Furthermore, how can a living trust benefit your estate planning goals? Read on to learn the answers to these … [Read more...] about What Is The Purpose Of A Living Trust?
How Federal Gift and Estate Taxes Can Derail Your Estate Plans
You worked hard your entire life to provide your loved ones and yourself with financial security. The last thing you want is the government to take any of your estate. Yet, if you do not plan ahead and investigate ways to avoid federal gift and estate taxes, you could face serious consequences. As much as forty percent of your estate and gifts to your friends and family could be lost. But fear not! There are ways to minimize or negate these taxes, including the lifetime exemption, marital … [Read more...] about How Federal Gift and Estate Taxes Can Derail Your Estate Plans
Planning is Critical
It’s always important to have a plan. This is particularly true in estate planning. Did you know if you die without a Will (intestate), your state law dictates who gets your property and makes decisions for you? Read on to learn more about a heart-breaking story of someone who didn’t plan ahead. The consequences will devastate you. Planning is Critical … [Read more...] about Planning is Critical
