All long-term care costs rose sharply in 2020, but assisted living facility costs increased the most, according to Genworth’s latest annual Cost of Care Survey. The across-the-board rises were due in part to increased costs brought on by the coronavirus pandemic.  In the past year, assisted living facility rates grew 6.15 percent for a median cost of […]

Mississippi Elder Lawyers: What Assets Can Medicaid Collect After Death? Most Mississippi elder lawyers agree that Medicaid is one of the best programs provided by the government for senior citizens who need help paying for long-term care. Medicaid is a needs-based program with strict income and asset limits that must be followed; otherwise, seniors can […]

By: T.C. Rollins Many people use self-help methods to avoid estate and probate issues. Their goal is to ensure the transfer of assets to family members upon their death. While this method of asset transfer will save you attorneys fees, it could be costly in the long run if one of your family members runs […]

It is certainly difficult to think about but there is the possibility that at some point in the future you will become incapacitated and will not be able to handle day to day decisions regarding your health care or your finances.  This is one of the most common reasons to establish an estate plan with […]

A living trust is also referred to as a revocable trust which, as the name implies, empowers you to make decisions while you are still alive about the purpose of the trust or even its existence. This is because a revocable trust is a flexible financial structure or legal entity that empowers the person who […]

Most people choose a family member or close friend to serve as an executor or a personal representative of their estate. This means that when you pass away, this person once approved by the court will be able to handle the administration of your affairs and the closing out of your estate. You are not […]

The majority of Americans don’t have a plan in place but estate planning is not only for wealthy individuals and business owners. A basic plan can include a power of attorney, a living will, and a will. Fewer than one third of people living in the United States today have even one or more of […]

Sadly, far too many children face the loss of their elderly parents and then have to take on the complicated task of selling a parent’s home. In the event that the will states that the children will receive the proceeds from the real estate’s sale, there are two potential outcomes that could occur based on […]

The Social Security Administration defines a representative payee as a person or entity that is designated to manage or receive supplemental security income or social security income payments on behalf of a beneficiary. This is usually associated with those recipients of government benefits who are not able to manage their own income. Representative payees are […]

Tax increases on local or the state level could be levied against real estate in the near future. A new CNBC millionaires’ survey identified that 43% of millionaires shared that they already pay too much in taxes. Many of those millionaires are bracing for a potential tax hike in the next year due to the […]