When faced with one's mortality, each individual reacts in a very personal way. Some Colorado residents become reflective and want to review their history. Others think to the future and want to establish ways in which to mold the future for loved ones. With each of these approaches, the individual may wish to revisit his or her estate planning decisions.
Unfortunately, nursing home abuse is more prevalent than most people realize. One employee who used to work at the Colorow Care Center in Colorado will stand trial for pushing a resident against a wall.
Timing is everything. This is especially true as a Colorado resident considering Medicaid planning. The timing involved in transferring assets, inheriting assets and making purchases can be important factors in estate planning and determining Medicaid eligibility.
Medicaid is a federal benefit program that many people in the United States use. Despite the fact that it is a widespread program, many people do not fully understand how to access it, how to apply or who is eligible.
No one likes to think about what is going to happen as their parents grow older, but for most people, doing so is a necessary, if unfortunate, reality. In many cases, the easiest time to begin long-term care planning is early on, when your parents are still relatively sharp and able to clearly express their own wishes and desires.
Medicaid is a program that helps many elderly people in the United States, and yet there are many myths and misconceptions about it. Before people make any assumptions about Medicaid, they should learn some of the most basic facts.
The Veterans Administration has announced new rules for evaluating net worth, asset transfers and income exclusions under the Aid and Attendance program for wartime veterans and their surviving spouses. These changes go into effect on October 18, 2018 so it may be your last chance to plan before that date.
It starts as a great idea. Then, with a little bit of effort, the idea turns into something with financial worth. Suddenly, the Colorado resident has an idea, design, artistic creation or other such item that produces income and/or royalties. Amid all of the excitement, the individual does need to think of the future and include this in the estate planning process.
Creating an estate plan is an essential task that will provide guidance and comfort for the people who love you. Having an estate plan will also give you a sense of relief knowing that your assets will transfer to your heirs according to your wishes.
Whether they live here in Colorado or somewhere else in the country, it is never too late for older couples to prepare for the future. Financial planning is a vital part of preparing for a surviving spouse's future. This will help the one left behind maintain an adequate standard of living.
An estate plan is not something you want to leave stagnant. You should update it regularly throughout your life, such as when tax law changes, so that you can take full advantage of new provisions. Ideally, you will change your will and trust numerous times, especially in your golden years.