Long-Term Care Insurance Premiums Rise Almost 9 Percent
Higher premiums mean that fewer consumers are buying long-term care coverage, and those who are buying are purchasing less protection, says Forbes magazine columnist Howard Gleckman.
SNT Payments Cause Section 8 Ineligibility
This case from Massachusetts details that the section 8 housing agent informed plaintiff Ms. DeCambre that she was no longer eligible for Section 8 because the trust had disbursed more than $60,000 during the year for her car, phone, Internet, veterinary care for her pets and travel expenses. A hearing officer upheld the BHA’s decision. Find out why.
The Ins and Outs of Estate Sales
We accumulate a lot of stuff over a lifetime and at some point – perhaps due to death, divorce, debt, or downsizing – we need to get rid of it. An estate sale is one way to dispose…
The 6 Biggest Estate Planning Mistakes
If you’re like most people, you have the best of intentions with regard to how you want your estate distributed when you die or your affairs handled should you become incapacitated. Unfortunately, without proper planning, your best intentions may not be enough. Here are six of the most common estate planning mistakes people make.
5 Estate Planning Tips for the Non-Traditional Family (Which Probably Means Yours)
Is your family of the “Leave It to Beaver” variety — opposite-gender parents, the first marriage for each, one or more kids, all healthy and thriving? If so, your estate plan will probably be pretty straight forward. But if not, it’s not as simple and you have a lot of company. Strohschein Law Group is aware of family dynamics and variety. We work with sensitive family situations every day. We stay focused on our core values of being approachable, client focused, collaborative, compassionate, and experienced. Your important issues will be heard and we will protect what matters most.
Tougher Reverse Mortgage Rules to Take Effect
A reverse mortgage allows a homeowner who is at least 62 years old to use the equity in his or her home to obtain a loan that does not have to be repaid until the homeowner moves, sells, or dies. But the homeowner is required to pay property taxes and homeowners insurance premiums on the property. Your assets can be protected to afford options like reverse mortgage when a proper estate plan is created to manage and allow smooth transition into long term care scenarios. Strohschein Law Group is here to help you protect what matters.
Medicaid and Trusts 101
With careful Medicaid planning, you may be able to preserve some of your estate for your children or other heirs while meeting the Medicaid asset limit. In Illinois, a nursing home resident covered by Medicaid may have no more than $2,000 in “countable” assets.
Family Strife over Elder Care?
Some families can work out these issues on their own, but many cannot, and the disagreements or hurts either fester or break out into open conflict and, occasionally, litigation. Resolution through mediation can bring much better results.
6 Things to Ask Before Agreeing to Be a Trustee
Being asked to serve as the trustee of the trust of a family member is a great honor. It means that the family member trusts your judgment and is willing to put the welfare of the beneficiary or beneficiaries in your hands. But being a trustee is also a great responsibility. You need to go into it with your eyes wide open. Here are six questions to ask before saying “yes”
What Is the Difference Between a 401(k) and an IRA?
The main distinction is that a 401(k) — named for the section of the tax code that discusses it — is an employer-based plan, while an IRA is an individual plan, but there are other differences as well. Strohschein Law Group will help you develop an estate plan with all of these considerations and more. Let us help you do the homework!