Posts Tagged ‘spouse’

As the amount of money stashed in 401(k)s and individual retirement accounts has grown, more and more families are finding themselves locked in battles over who has rights to the assets.

Even with the many concerns over retirement accounts in America, it’s undeniable – IRAs and 401(k)s represent a lot of personal wealth for everyday Americans. That means retirement accounts are assets uniquely worthy of particular attention, to include when it comes to their role in your estate planning. Indeed, amongst households with at least $100,000 to invest, 60% of the household’s assets are in an IRA or 401(k). So, how ought retirement accounts factor into your estate planning. Who will inherit them? The answer is not a simple as you may think. Truth be told, the problem with retirement accounts…

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Five More Medicaid Myths

1. Myth: “I can find out all I need to know about Medicaid from the nursing home or the Medicaid agency. The Truth: The Medicaid law is very complex and counter-intuitive. It was written by Congress, after all! The nursing homes and Medicaid agencies do not have lawyers to interpret the law in your favor. 2. Myth: “I have to lose my home and everything I own to get Medicaid assistance.” The Truth: A person is permitted to own “exempt property” and be eligible for Medicaid. In addition the “community spouse” is entitled to keep a share of the assets….

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