A couple of bills and a proposed constitutional amendment has been made in the Texas legislature to give tax relief for certain seniors and their surviving spouses. A joint resolution proposes a constitutional amendment that grants an exemption from ad valorem taxes on a residence...
Home Sale. Often those over 50 have lived in their home a long time resulting in a substantial equity increase. If you have lived in your home for at least two of the five years before you sell your homestead, you can have a...
In recent years, numerous crowdfunding platform websites (such as GoFundMe, Indiego and Crowdrise) have grown rapidly raising millions of dollars (generally online) for various causes and individuals. Although the intent is often to help those with disabilities, it can actually be detrimental if the account...
If you have recently recorded a deed with the county clerk (and perhaps even if you haven’t), don’t be surprised if you get a letter that looks very official stating that they will provide you a copy of your deed (usually for a little more...
Federal law presently limits charging older adults (generally between 50 and 64 since many get Medicare at age 65) who need health insurance policies no more than three times the amount they charge other people the same products. However, if the State Age Rating Flexibility...
Life insurance can be beneficial in numerous ways to estate plans – even for those who are older with less means. Here are but a few ways it can be helpful: Provide long-term care benefits. Some policies allow you to add a rider for long-term...
At the present time, the federal government matches (in some states up to 70%) state funds budgeted for Medicaid. This is an incentive for states to allot more of their budget on Medicaid and be inefficient in their spending. Medicaid spending has soared to the...
If you have a child who has special needs and you want your child to be a beneficiary of your estate, a standard will or trust may be insufficient. A few things to consider are as follows: If your child became disabled before age 26,...
A House of Representatives bill entitled as the “Close Annuity Loopholes in Medicaid Act” has been proposed earlier this month to reduce the benefits of an asset preservation strategy for a commonly used benefit of the “well” spouse in Medicaid planning when the ill spouse...
Usually the biggest asset that most Americans have is either a home or their retirement accounts or both. Americans are living longer than ever before, but most have inadequate long-term care insurance coverage. Most mistakenly think that Medicare will take care of them if they...
