The For the 99.5% Act reduces the estate tax exemption to $3.5 million per individual and $7 million per couple. The bill adds higher tax brackets for larger estates.
There is a simple and unsettling reality in the United States. Many Americans don’t feel financially prepared for health care costs in retirement.
If you’re helping an aging parent navigate Medicaid because they don’t have long-term care insurance or you think you’ll need it yourself someday, it’s important to understand how the program works.
There are currently 73 million baby boomers in the U.S., and by the end of the coming decade, all of them will have turned 65, according to the U.S. Census Bureau.
Health care already accounts for about 10% of spending, on average, by households headed by seniors. 2021 brings more bad news for the pocketbooks of seniors on Original Medicare.
Is it better to transfer the title of the home to us, or to leave it as it is given her age and go through probate?
As parents, we often want to help our adult children who need a financial boost. Many times, this assistance comes in the form of a loan.
Trusts are legal entities that own assets, and all trusts are not alike. They are created by a written trust document with certain provisions that can vary from trust to trust.
Did you know that 70% of adults over the age of 65 are predicted to need some type of long-term care for an average length of three years? While thinking about your future, you’ve likely already planned financially, but have you considered your long-term care options?
Have you priced nursing homes lately? In Texas, you are looking at an average annual cost of $50,000. We are on the low end; nationally, the average annual cost is closer to $75,000. New Jersey costs a whopping $109,500 annually.
Copyright © Huizenga Law Firm, P.C. All rights reserved. Some artwork provided under license agreement.
