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Outlining your wishes for burial and funeral arrangements can be something you include in your estate plan. And though it may sound jarring, human composting is in fact a death care alternative that is increasing in popularity. As more people look to adopt environmentally sustainable practices not only in life, but now also in death,…

When working with an attorney to prepare for your future and address the challenges associated with aging, you will likely come across the term “incapacitated.” Incapacitated Definition Someone who is incapacitated cannot make personal decisions or understand legal documents. An incapacitated person requires a surrogate decision-maker, such as an agent under a health care power…

Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax efficiency, but there are potential problems to look out for. Knowing the implications and risks of a life estate is essential in determining whether it is appropriate for your situation. In a life estate, two or more people each have an…

The Setting Every Community Up for Retirement Enhancement (SECURE) Act, which went into effect in 2020, changed how beneficiaries of inherited retirement accounts must withdraw these funds. The Act’s passage made it more difficult for individuals to pass their retirement savings on to their heirs without tax liability. The 10-Year Rule Generally speaking, beneficiaries of…

Medicare’s Annual Enrollment Period (AEP) is just around the corner. In just a little over a month, those of you who are looking to enroll in a Medicare plan will have a chance to do just that. If you want to make the most of AEP, preparing for the event is key. “Wait,” you’re probably…

Many options are available for those planning where to live and receive care during their retirement years. Independent living communities are for healthy, active older adults. Assisted living facilities suit those who need help with activities of daily living, such as bathing, dressing, preparing meals, and medication management. Skilled nursing facilities provide care to individuals…

Money in 529 plans, named for Section 529 of the Internal Revenue Code, enables you to reduce your taxable estate while earmarking funds for the higher education of a grandchild (or any other family member). Funds contributed to such accounts are invested to pay for a grandchild’s college tuition, room and board, or other expenses.…

According to the 2023 Wills and Estate Planning Survey by Caring.com, only 34 percent of Americans have an estate plan. The primary reasons respondents gave for not participating in estate planning are: An estate plan is a comprehensive set of legal documents and strategies that organizes assets for a person’s death or disability. Trusts are…

If you are in the hospital, you may want your loved ones to be able to access information about your prognosis. However, if you have not authorized them to receive specifics regarding your medical condition, they could be denied these details. What Is HIPAA? The Health Insurance Portability and Accountability Act of 1996 (HIPAA) is…

About 45 percent of adults say they plan to travel for the holidays, per The Vacationer. With multiple generations getting together for holiday meals, gift exchanges and quality time, these annual gatherings present an opportunity to broach sensitive but important topics with your aging loved ones. By communicating with them and knowing their wishes, you…