Few of us feel delight when we hear the term "tax code". However, there has been some recent excitement in the area of trust taxation and administration that we all should direct our attention to.
Long-term care is becoming increasingly common for individuals. With the rising numbers of Alzheimer's cases in the United States, it is imperative that family members protect themselves from the burdening costs associated with long-term care. All too often families are blindsided by the costs and often Medicare doesn't cover the long-term needs of an individual.
Over one-fifth of American families care for parents, grandparents, or others over age 50. This is according to a study done by AARP. It showed that over ten percent of such families' income was spent on caregiving. That number skyrocketed for families caring for someone long-distance. Expenses were estimated at almost $5,000 per month.
The Veteran's Aid and Assistance program is a little-known program which offers pension benefits to certain veterans and their spouses for daily living assistance costs. There is a ceiling on income in order to qualify. Future medical expenses can be used to reduce your qualifying income level.
It's never easy to discuss end of life plans. It's even more difficult when those plans must include determining care for a child or family member with special needs.
Though life expectancy tables can predict that individuals will live a certain number of years, the fact of the matter is that there is a large variety of factors that play into how long a person might live. Mortality tables and estimates do not account for these factors, which only promotes underestimating Americans' life expectancy. Most Americans assume that they will live past 65, which means they do not need to worry about an estate plan while they are only 25.
Any time you are looking for solid and unbiased consumer information you know that you can find it in Consumer Reports magazine. The folks there do a fine job of analyzing products and services in a very fair and balanced way. They then pass along their findings to the public so that we can proceed with a foundation of useful information before parting with any of our hard-earned money.
Estate planning and retirement planning are naturally connected. If you have particular ideas in mind with regard to what you want to be able to do for your family after you pass away these intentions could impact your retirement budget. Clearly, you can't provide inheritances if there is nothing left after you pass away.
Alzheimer's disease is more common than a lot of people may think. The Alzheimer's Association does a lot of great work with regard to research and education, and they tell us that somewhere in the vicinity of 40% of the oldest old are suffering from this disease.
The Veterans Aid & Attendance special pension is in place to help former service members cover their assisted living and home caregiver costs. Unlike the retirement pension the length of service requirement is minimal. One must have served for at least 90 days with a minimum of one of these days taking place while the United States was at war.