As of late 2022, more than 84 million people were enrolled in Medicaid — a number that has steadily increased in recent years. Amid the pandemic, total enrollees climbed by 20 million people from 2020 to 2022 alone. Meanwhile, the debate among lawmakers on further expanding Medicaid in some 11 states continues to evolve. Depending on where you reside, passage of such an expansion could mean you become newly Read More

Estate planning, or what some people refer to as legacy planning, entails preparing your affairs for the future, including death and other life events. While older adults might give more thought to estate planning, it is an essential tool at any age and any asset level. Why It’s Important With estate planning, individuals and families can protect their interests after death or incapacity. You can provide Read More

As we enter tax season, let's take a quick detour from all things estate planning, and offer some tax preparation tips. When it comes to filing your 2022 federal tax return for the 2023 tax season, you may be able to access several forms of assistance for free. Filing Online: IRS Free File In January 2023, the Internal Revenue Service (IRS)’s Free File service opened to taxpayers. Through IRS Free File, Read More

It is an unpleasant thought, but death is a reality we all must face. (According to Ben Franklin, death and taxes are the two certainties we must all face, but it's not yet April, so we'll hold off on talking about the second of the two certainties for now). One way to cope with the loss of a loved one is to be prepared for their final send-off. Funerals are expensive. No matter your circumstances, the Read More

As we have entered 2023, we've reviewed some common roles in estate planning documents: executors (for wills - only effective when you pass) and agents (for powers of attorney - while you're living but can't act for yourself).  Today, we'll finish out January with a review of when an agent named on a power of attorney can be overridden. A power of attorney (POA) is a legal Read More

Let's continue on our January-back-to-basics series, as we focus on the role of the executor. An executor is a person or entity you choose to carry out your last wishes outlined in your will. Your executor should be someone you trust is responsible enough to manage your estate after you pass away. (Please keep in mind: This is a person who only acts once you have passed. Naming a person as your executor does not Read More

The person you name as your executor will be accountable for a number of important tasks, even in managing the administration of a small estate. This may include filing tax returns, keeping meticulous records, and distributing assets to your beneficiaries. At the same time, there are rules about what the person in this role is not permitted to do. What Is an Executor? An executor is a person you choose to Read More

A power of attorney is a powerful planning document that enables you (the principal) to give another person (the agent or attorney-in-fact) the power to act for you while you are alive. Because it is often prepared in the context of estate planning, many believe it gives their agents the power to continue acting after their death. Although every state’s laws and forms vary, most power of attorney forms Read More

If we have learned anything these past few years, it’s that life is fleeting. Amid such uncertain times, many of us have realized what – and who – truly means the most to us. Estate planning allows you to reflect on your family, your priorities, and what actions you can take now to secure your future and that of your loved ones. With proper estate planning, you can find the thoughtful support you Read More

Recent news stories may have made you aware of the “step-up in basis” and the current administration’s desire to eliminate or adjust it. If you are considering engaging in estate planning or you may be inheriting assets, it is important to understand what the step-up in basis is and how it may affect you. What Is the Step-Up In Basis? The step-up basis is a provision in federal tax law. It Read More