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Do You Know the Right Time to Claim Social Security?

In the United States, Social Security acts as a support system for the elderly. It serves to supplement retirement income, therefore the best time to claim Social Security is when you reach retirement age. While in the workforce, you contribute…

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How Will Your Estate be Administered in Court?

The “probate” process, as it is often referred to, involves judicial officials, such as the Surrogate’s Court judges, appointing a fiduciary upon proper application to administer a decedent's estate. While state Surrogate Court laws may vary, the general process is quite…

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How to Restructure Your Assets for Long-Term Care

Over the course of a person's lifetime, about 70% of us will need long-term care.  It’s estimated that the average cost of long-term care just during the last 5 years of life is $233,00- $367,000. For those with long-term care…

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Do You Understand the Components of Estate Planning?

What is an Estate Plan? According to Meriam Webster, the legal definition of estate planning is "the arranging for the disposition and management of one's estate at death through the use of wills, trusts, insurance policies, and other devices." All adults…

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Do You Understand Supplemental Security Income (SSI)?

The most general definition of income is money that an entity or individual receives for their work or products. The definition varies depending on aspects of financial accounting, economic analysis, or taxation. For the purpose of Supplemental Security Income (SSI), income is described…

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Is Your Child’s Inheritance Safe?

To prevent assets from disappearing or being claimed by creditors, estate planning should include protective measures for your children and grandchildren's future inheritances. A simple way to achieve inheritance protection is through a trust. A trust can pass your wealth bypassing…

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Managing Money for Your Special Needs Child

Estate planning for special needs children presents unique challenges. You need to plan carefully in order to keep your special needs child enrolled in public benefits programs while using, enhancing, and enriching their assets. An estate planning attorney can prepare a…

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Will a Creditor Disrupt Your Probate Process?

When a testamentary dies, a personal representative (executor) makes a public record of the date of death, which may even be published in a local newspaper. In part, this information serves as notice to creditors if the decedent has an outstanding…

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How Can You Avoid the Medicaid Penalty Period?

In order to receive federal assistance through the Medicaid program for nursing home care, assisted living, in-home care, or adult foster care, individuals must meet income and asset requirements. As a result of these rules, many candidates give away their money…

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Is Your Estate Plan Up to Date?

In case of big life changes such as births, marriages, divorces, or moving to another state, you should check your estate planning documents every now and then. Children grow up, marriages dissolve, property gets sold, and residences change. That’s why…

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