Nursing homes costs are on the rise. Discover top strategies for protecting assets from nursing home costs and improving your Medicaid eligibility.
In certain states, such as Delaware and Alaska, it may even be possible to create a trust for yourself, and thereby shield trust assets from your own creditors. Perhaps even more important, states such as Delaware and Alaska impose no state income tax on trusts with non-state-resident benefi...
These laws aim to protect the best interests of the child while balancing parental rights. Common scenarios where grandparent rights may apply include: Estrangement: If adult children sever ties with their parents and restrict access to the grandchildren. Divorce or Separation: When a child’s ...
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How to calculate SAI The Student Aid Index is calculated using the information you provide on your FAFSA. You’ll find questions about your family size, how much you and your parents make, and any assets you and your parents have. Some of the changes to the formula used to calculate SAI...
Regular contributions can help you build up three to six months' worth of essential living expenses — not your full budget, just the must-pay basics. You shouldn’t expect steady progress because emergencies happen, and that's when you should pull money from this fund. Just focus on replaci...
If you don't properly protect your assets, they can potentially be lost in a lawsuit,bankruptcy, or to other creditor actions. It's important to understand the laws that can provide asset protection and to know what measures you can take to protect your savings. Key Takeaways Asset protectio...
If you have custody of your children, the most prudent way to protect yourself from this scenario is to maintain a life insurance policy on your ex-spouse with a benefit amount high enough to replace your child support or alimony income at least until the last child is grown. ...
There are many ways to set up a trust. You may see trust funds as a tool of the ultra-wealthy, but they can be useful to anyone who wants to protect their assets for the future needs of the people or causes that are important to them. People entering second marriages may set up tru...