There are undeniable benefits to purchasing an annuity, but there are many different types. Careful planning and consideration are required to find one that is the best fit for your financial situation.
People are living longer in retirement, which means many are at risk of outliving their savings. Retirees who carefully manage their spending are more likely to weather market fluctuations well and make their nest eggs last.
Numerous resources are available to educate a spouse or an aging loved one on the basics of personal finance, retirement planning, investing and more. In fact, some of these learning tools are both practical and enjoyable.
Qualifying for Medicaid is a complex process that many seniors and their caregivers have difficulty with. Each state's program rules differ, but "income cap" states allow applicants to use a specific trust to help them meet eligibility guidelines.
Their wallet can tell you a great deal about their ability to manage their finances. Ensuring its contents are current and organized will help to extend their independence and make dealing with banks, Medicare and credit card companies simpler.
If the trust was revocable (a revocable living trust) and intended simply as a way to avoid probate, your attorney and accountant will tell you that she still owned the real estate at death, so there will be a “step up in basis” for you and the other beneficiaries.