Baby Boomer's Guide to Estate & Medicaid Planning: Planning for Yourself and Your Parents
While estate and Medicaid planning can be overwhelming and intimidating, this resource demystifies all the complexities with an emphasis on lifetime planning—health care powers of attorney, living wills, financial powers of attorney, long-term care insurance, and guardianships. Living trusts are discussed in detail, including fiduciary duties, the manner in which trusts are taxed, and the characteristics of trusts versus wills. The ins and outs of long-term care insurance, such as the likelihood of coverage needs and the effect of inflation on costs and benefits, are also explained. Finally, an extensive section on Medicaid provides succinct information for families of wealthy and modest means.
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Avoiding Probate via Joint Tenancy
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agent amount avoid probate benefit bond brokerage firm capital gains capital gains tax cash chapter child conservatorship cost of probate countable assets court creditors CSMIA CSRA death decedent decedent's deduction deed disabled distribution durable power eligibility estate plan estate recovery Example Excess Shelter Allowance executor exemption expenses federal estate tax fees fiduciary filed fixed annuity gift tax guardian health care power heirs at law income and assets income tax inheritance tax insurance company interest intestacy investment joint account joint ownership Joint tenancy laws of intestacy letters testamentary lifetime long-term Medicaid agency Medicaid applicant Medicaid assistance months mutual fund nursing home pass pay-on-death payments person power of attorney real property remaindermen revocable living trust small estate affidavit Social Security someone successor trustee surviving spouse tax basis tax consequences tax return taxable estate taxable income testamentary trust transfer trust agreement trustor waiting period