
Wife Liable for Nursing Home Expenses in Recent Iowa Case
In a December 2021 decision from the Iowa Court of Appeals, a woman who fought for months to get her husband on Medicaid was held
In a December 2021 decision from the Iowa Court of Appeals, a woman who fought for months to get her husband on Medicaid was held
If you’ve ever spent time working through your estate plan, you know how important it is to select and update your beneficiaries.
The death of a spouse is one of the most difficult things imaginable. Besides the emotional toll, surviving spouses typically confront financial issues, which often trigger tax-related questions and consequences.
On its surface, Social Security seems like a fairly straightforward program. You and your employer pay a tax based on your earnings, while you work. When you retire, you get a lifelong income stream that’s somewhat tied to how much you paid into the system.
It’s generally a bad idea to name a trust as beneficiary of your IRA.
When a spouse enters a nursing home, the cost of care can be financially devastating. Many families are simply unable to afford long-term care without applying for Medicaid.
If you are caregiving from a distance (you live here and your parent or other loved one is in another state, a distant city or as close as an hour away), it can be even more daunting than doing it in your home.
My daughter, my only child, recently married a nice man. However, he is not responsible with his finances. I don’t want my son-in-law to have any access to her money or through a divorce via equitable distribution.
When a loved one dies, any leftover IRA funds they had, goes to whomever they labeled as beneficiaries. If you’re a beneficiary, you have to decide how you’re going to use it—a decision that’s a little more complicated this year than it normally is.
Utilization of a testamentary trust for the surviving spouse is an excellent idea, whether the survivor is the husband or wife.