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Monthly Archives: January 2024

Understanding the pros and cons of a testamentary trust

Testamentary Trusts: The Best of Both Worlds?

By Andre O. McDonald |

You have several different options when it comes to creating the right estate plan. Some people believe that a revocable living trust is the best way to go, while others think that a last will and testament (commonly known as a will) is best under certain circumstances. Others may find that a combination of… Read More »

Understanding the purpose of the Deceased Spousal Unused Exclusion Amount (DSUEA) in Estate Planning

What Is the “Last Surviving Spouse Rule”?

By Andre O. McDonald |

Estate planning can be a significant part of successful financial management, especially for married couples. One key consideration is minimizing estate taxes, which can substantially affect the distribution of money and property to a married couple’s loved ones. Part of this is understanding the purpose of the Deceased Spousal Unused Exclusion Amount, commonly referred… Read More »

Understanding the 2024 Medicaid Spousal Impoverishment Standards

2024 Standard Protections for Spouses of Medicaid Applicants

By Andre O. McDonald |

Each fall, the Centers for Medicare & Medicaid Services (CMS) renews the federal guidelines that seek to protect individuals whose spouses are applying for or receiving Medicaid long-term care benefits. These protections, known as the Spousal Impoverishment Standards, help to support the financial well-being of seniors who continue residing at home while their spouse on… Read More »

Can a nursing home take your house?

Protecting Your House After You Move into a Nursing Home

By Andre O. McDonald |

When people start thinking about aging and the looming potential for needing long-term nursing care that comes along with it, one of the primary questions people have is: can a nursing home take your house? While you generally do not have to sell your home in order to qualify for Medicaid for nursing home… Read More »

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