Wealth transfer can be protected from excessive taxation by applying tax avoidance principles. Still, it requires careful planning and oversight to ensure techniques don’t cross the line to tax evasion. Assessing tax options can determine the best way to conduct…
It is expected that long-term care in the United States will undergo significant changes, presenting numerous challenges in the future. A multi-faceted approach that includes policy changes, investment in the health care workforce, technology advancements, and a shift toward person-centered…
Special needs individuals have access to a number of federal programs and services. These programs are vital to parents and guardians supporting loved ones with disabilities. Parents raising children with special needs require nearly twenty percent more income annually to…
The Department of Veterans Affairs (VA) offers many veteran benefits programs that are worth learning about if you are a veteran or are taking care of one. Often, financial support is available to veterans, their spouses, and survivors. Even if…
In recent years, aging Americans have become increasingly interested in continuing care retirement communities (CCRCs) or life plan communities. These senior living communities offer the array of care options necessary for aging adults to move through the stages of independent,…
A special needs child requires special consideration when estate planning. You’ll need to assess how your child will be able to function in the world as they age. There are many questions to answer, including: What is the child’s long-term…
A wealth transfer or estate planning strategy may include strategies that preserve assets while providing financial benefits to those who inherit them. One such strategy is the grantor-retained income trust (GRIT). GRITs offer a unique opportunity for individuals to retain…
Think about being ill and having to determine whether or not you can afford medical care. Unfortunately, for many Americans, seeking medical care hinges on affordability rather than medical necessity. About half of US adults have gone without or delayed medical care…
There are many people who use trusts, not just the wealthy. In addition to serving many purposes, they address specific problems that are less concerned with wealth, and put the focus more on family dynamics. Do you want to keep…
AARP estimates that three out of four Americans over the age of 50 are planning on aging in place. These seniors are willing to employ alternative solutions to make it happen. The alternatives include home sharing (32%), modifying their home…