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The nursing home stay will be paid for and the rest of your assets are safe. The downside is cost. Long-term care can be very expensive, especially if you buy it later in life.
My wife and I are elderly. I have an individual retirement account (IRA) worth about $100,000, and we have a trust set up through our children to protect our assets. If one or both of us have to ...
For married couples, the at-home spouse who will not receive nursing care often can keep up to $148,620 in assets in 2023. If you need help planning for these potential expenses in the future ...
An estate liquidation is similar to an estate sale in that the main concern or goal is to liquidate the estate (home, garage, sheds and yard) with an estate sale organization [1] There is no government regulation of the industry. There is also no formal training for estate liquidators. [2]
A liquidating distribution (or liquidating dividend) is a type of nondividend distribution made by a corporation or a partnership to its shareholders during its partial or complete liquidation. [1] Liquidating distributions are not paid solely out of the profits of the corporation. Instead, the entire amount of shareholders' equity is ...
A trust is a legal entity many people create as part of an estate plan.The trust acts as a container for assets transferred into it by the grantor.A trustee is appointed to manage the assets in ...
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The best way to protect yourself is to be careful about what info you offer up. Be careful: ChatGPT likes it when you get personal. 10 things not to say to AI