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Through Trump Accounts, the federal government will provide a one-time seed contribution of $1,000 for eligible American children born between January 2025 through December 2028.

If you do not have this legal document in place, a court might have to appoint a conservator or guardian who would be granted the power to act on your behalf.

Taxpayers can deduct a portion of qualified LTCI premiums as a medical expense if total medical expenses exceed a certain percentage of their adjusted gross income.

Medicaid provides a safety net for long-term care, but requires strict limits on income and assets.

Probate laws and avoidance strategies, such as transfer-on-death deeds and joint ownership, vary significantly by state, making it crucial to understand local regulations and update plans regularly to prevent unintended probate.

Most Americans surveyed (57 percent) said they cannot cover a funeral without incurring debt.

The Internal Revenue Service (IRS) has released the gift tax and estate tax exclusions for tax year 2026. These exclusion amounts are adjusted annually to account for changes in the cost of living. The following updates become effective January 1, 2026.

A recent federal court ruling reversed a rule that would have removed medical debt from credit reports, meaning this debt can continue to negatively impact credit scores.

Helping out family members is to be encouraged but can raise numerous legal issues involving taxes and eligibility for public benefits, as well as questions of fairness among family members. Here are six issues grandparents should consider before making gifts to loved ones.

Starting in 2026, employees aged 50 and older who earn over $145,000 must make 401(k) catch-up contributions on an after-tax (Roth) basis, losing the immediate pretax deduction.

Estate planning is about far more than just distributing assets; it’s about protecting your family, your wishes, and your legacy. Below are some of the most common myths about estate planning and the facts that debunk them.

What happens to your estate plan if you are now divorcing? Here are some key strategies to make sure your wishes are protected during and after the process of separation and divorce.

“Funding” a trust means transferring ownership of your accounts and property to the trust during your lifetime, or designating the trust as a beneficiary, which is crucial for the trust to function as intended and for your successor trustee to manage your affairs effectively.

Federal estate taxes are not a universal burden. They are only applicable if your combined assets, which include both gifts made during your lifetime and assets transferred at the time of your death, exceed a high threshold ($13.99 million, as of 2025). This means that most estates will not be subject to federal estate taxes.  State estate tax exemptions vary greatly.

Your estate plan should be updated regularly, particularly after major life events (e.g., marriage, divorce, birth of a child, death of a loved one), significant financial changes (e.g., increase or decrease in wealth, real estate transactions), or other notable shifts (e.g., moving states, changes in tax laws, health changes).

Amid past incidents of misconduct, it’s crucial to thoroughly vet funeral homes by checking licenses, reviewing morticians’ credentials, and visiting facilities in person.

A power of attorney (POA) is a legal document that allows an individual (known as the principal) to give another person (their agent or attorney-in-fact) the authority to act on their behalf. Though many people are familiar with the general concept of POAs, not everyone understands the different types of powers of attorney and how they work, especially with regard to durable powers of attorney.

Many families make the sometimes costly mistake of not filing an estate tax return when the first spouse dies, even when no taxes are due.

A growing number of Americans are working past traditional retirement age, often due to financial necessity but also for engagement and purpose. Working later in life has significant implications for financial planning, health care, and estate planning, requiring careful consideration of taxes, benefits, and legal documents.

A new pilot program will introduce prior authorizations for certain Original Medicare services in six states, effective January 2026.

Making the difficult decision to move a loved one into a care facility, as Bruce Willis’s family did, often becomes necessary when home care can no longer meet complex health or safety needs, or when caregiver burnout occurs.

The Social Security Administration’s move to phase out paper checks for benefits payments requires most recipients to switch to electronic payments by September 30, 2025.

Dying without a will (intestate) means state law dictates asset distribution, and the estate will likely go through probate, which can be time-consuming and costly.

Pet trusts ensure that your beloved companion animals are not left without care or abandoned after your death.

DNRs offer a balance of benefits, including patient autonomy and avoiding unnecessary suffering, as well as drawbacks, such as potential for undertreatment or misinterpretations by health care providers.