Author Archives: Site Administrator
New Protections Available to Reverse Mortgage Non-Borrowing Spouses
Making the decision to get a reverse mortgage is one that you probably entered into with plenty of research, including how this could potentially impact the non-borrowing spouse. New updates in estate planning make for bigger protections for that non-borrowing spouse when the reverse mortgage is active. The most important component of these updates… Read More »
Do You Have a Just-In-Case List?
If something happened to you and you weren’t able to speak for yourself, do you have a plan for who could find important documents and enable you to remain focused on your medical care? A just-in-case list provides important access details for a chosen loved one to be able to gather the necessary information… Read More »
What Is a Designated Beneficiary?
Have you set up your retirement account with your employer or recently applied for life insurance? In either of these circumstances, you’ll need to choose someone to receive the assets inside these accounts/policies when you pass away. In general terms, this person is referred to as a beneficiary. Completing aspects of your retirement plan… Read More »
Am I Eligible for the Virginia PACE Program?
PACE is an integrated program of care for Virginia residents age 55 or more who meet the following criteria: Have been certified as meeting functional needs for a nursing facility level of care. Will be able to safely reside inside a PACE service community. Live inside a PACE service area. PACE services can be… Read More »
Can a Charitable Remainder Trust Be Used to Generate Income in Retirement?
What if you were able to accomplish multiple goals in creating a trust at once, such as avoiding capital gains taxes, selling a highly appreciated asset and creating a steady stream of retirement income for your loved ones? These are just a few of the most common pros of choosing a charitable remainder trust…. Read More »
Study Shows More Americans Want to Retire Early
Have you thought about your intended retirement target age? For most people, turning 65 means leaving the workforce at least in a full time role, but that has been shifting over recent decades as more people stay longer in their positions for financial reasons or just not wanting to leave the workforce. But a… Read More »
FEMA Announces Funeral Assistance for Families with Loved Ones Who Have Passed Away Due to COVID-19
FEMA is now providing financial assistance for COVID-related funeral expenses incurred after January 20, 2020. To be eligible, the following conditions must be met: The death must have occurred in the United States (including the U.S. territories and the District of Columbia) The death certificate must indicate the death was attributed to COVID-19 The… Read More »
What Does an Executor Do When There Is No Will?
If the will that is associated with an estate is invalid or if an executor cannot find a will, state law determines what happens to the property inside the estate. Many people don’t write wills such that when it’s time to settle their estates, it becomes difficult to determine who inherits the property. Virginia… Read More »
How to Understand the Role of a Probate Judge in an Estate
Probate judges are important individuals when a contest or dispute emerges in the processing of an estate. Probate judges are state judicial officials and civil court judges who oversee those cases that enter the probate court system within their state. This can include concerns related to competency or guardianship in addition to the estate… Read More »
Going to a Nursing Home: What Counts as Income for Virginia Medicaid?
When you’re in the process of applying for Medicaid in Virginia, you need to know what you already own or receive in terms of assets and income. This is because Medicaid, while administered at the state level, is a federal program that is meant for those who have a high level of financial need…. Read More »