As you look ahead to the New Year, you might set new goals or make resolutions dealing with your health, wealth and happiness. But the start of the year is also a great time to get organized with estate planning. Sure, it’s great to save some money or make your first big investment with a new home. But you work hard to make that possible! So make sure you have a say in what happens to it if something happens to you. As K.P. Edwards wrote in “Financial Counseling and Planning,” “Estate planning has long been recognized as an important part of financial planning for families.”
Contrary to popular belief, you are never too young, too healthy or too single to have a will, and you don’t need to have kids to justify drafting one either. Continue reading “Why You Should Arrange Estate Planning in 2018”
Single adults who are not in a long-term relationship have unique estate planning concerns. If they are 18 and older, it usually makes sense for them to have estate planning documents in place.
Here are some common issues that come up for single people with estate planning.
YOUR DIVORCE: Colorado law automatically voids all appointments of and bequests to a former spouse in a will. It is critical that a divorced person prepares new documents that are wholly operational in this context. Continue reading “What Single People Should Know About Estate Planning”
If a family member or you are looking into long-term care, you may have heard about Medicaid eligibility planning. Truly, the providers themselves are some of the foremost experts in this field as Medicaid is often how they are paid.
And while a long-term care provider may be expert, that does not mean that you should take their word for it in terms of how to plan and whether to plan to become Medicaid eligible.
Think about it: Medicaid is a needs-based benefit and that means it is for people who are in POVERTY. So the bottom line is that when you plan to become eligible, or to make a family member eligible for Medicaid, you are impoverishing that intended recipient. This has its own consequences. For example, a provider may not tell you that you or your loved one will be moved to a less desirable room or a room with a roommate once eligible or transferred to a “Medicaid bed.” Continue reading “Key Documents in Medicaid Planning”