Assisted living facilities and nursing homes are long-term housing and care options for older adults. Although people sometimes use the terms assisted living and nursing home synonymously, they are distinct. Understanding the differences between assisted living and nursing homes is [...]
Most older adults want to remain in their homes and communities as they age rather than move into assisted living facilities or nursing homes. For those who wish to maintain their independence and continue living at home as they grow [...]
In October 2022, the Internal Revenue Service (IRS) announced contribution limitation adjustments for employee retirement plans in response to inflation. The IRS issued Notice 2022-55, which describes cost-of-living adjustments for retirement and pension plans. The changes are effective January 1, 2023. [...]
Early on in the pandemic, nursing homes across the country found themselves at its devastating bull’s eye, with residents and staff of these facilities making up roughly 30 percent of all COVID-19 deaths in the U.S. between May 2020 and February 2021. [...]
If you are planning to leave an investment property to loved ones, a 1031 exchange may be a helpful estate planning tool for you. Because these exchanges allow you to defer taxes or limit taxes owed at the time of [...]
The Senate and House have cleared the passage of a year-end $1.7 trillion appropriations bill that will benefit older adults on a number of fronts. The bill, which runs more than 4,000 pages and includes a wide variety of legislation, [...]
If you are considering preparing a will, this is a great first step in planning for the future. After reflecting on the basics, such as whom you want to be in charge of administering your wishes, you may wonder if [...]
There are various benefits to creating a testamentary trust. This article discusses the benefits of adding a testamentary trust to your estate plan. What Is a Testamentary Trust? A testamentary trust allows a testator to manage wealth by giving a trustee [...]
In November 2022, the Centers for Medicare and Medicaid Services (CMS) announced that Medicare coverage will be expanded to include medically necessary dental services. This change in Medicare rules will allow people with life-threatening conditions to receive dental care and [...]
The Centers for Medicare & Medicaid Services (CMS) has released the 2023 federal guidelines for how much money the spouses of institutionalized Medicaid recipients may keep, as well as related Medicaid figures. What Are Spousal Impoverishment Rules? Spousal impoverishment is a concern [...]