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Anyone who gifted assets within five years of applying for Medicaid may be subject to a penalty period, but that penalty can be reduced or eliminated if the assets are returned. 

Increasingly, several generations of American families are living together. These multi-generational living arrangements present legal and financial challenges around home ownership.

Do you have a will? A durable power of attorney? A health care proxy? If not, why not? Failure to create an estate plan risks causing discord in your family for generations to come.

There are lots of misconceptions about estate planning, and any one of them can result in costly mistakes. Understanding who needs an estate plan and what it should cover is key to creating a plan that is right for you. 

Although your life insurance policy may pass to your heirs income tax-free, it can affect your estate’s tax liability. 

While legally you may not need all-new estate planning documents if you move to a different state, you should have your documents reviewed by a local attorney in your new home. 

While a will is one of the most important estate planning documents you can have, there are things that it won’t cover. A will is just one part of a comprehensive estate plan. 

Many websites offer customized, do-it-yourself wills and other estate planning documents.  Although these products are convenient, using them could create serious and expensive legal problems for heirs. 

Pets are members of the family, so it is important to consider how to provide for them in your estate plan just as you would the human family members.