<p>Rising inflation due to the ongoing coronavirus pandemic means that in 2022, Social Security benefits will go up 5.9 percent, the sharpest upsurge since 1983. </p>
<p>While it is preferable to conduct long-term care planning well in advance of needing care, if you haven’t planned ahead, there are some strategies available to avoid spending all your assets. </p>
<p>While you likely have the best of intentions regarding how you want your estate distributed when you die or your affairs handled should you become incapacitated, without proper planning your best intentions may not be enough.</p>
<p>A power of attorney may seem like a simple document, but there are several important decisions that need to be made when creating one.</p>
<p>If you have close relatives who are citizens of another country, you might receive a gift or inheritance from them at some point. While you usually do not have to pay taxes to the IRS for this, you may need to report it. </p>
<p><span style="font-size:small">Many families will eventually have to hire a caregiver to look after an aging relative. There are two main ways to hire someone: directly or through a home health agency.</span></p>
<p>Limited Liability Companies (LLCs) are an important tool for small business owners, but they can also be useful in estate planning. An LLC can help you pass assets to your children while avoiding gift and estate taxes. </p>
<p>Individuals who are researching nursing homes can now see staff and resident vaccination rates along with other quality and safety measure information at Medicare’s Nursing Home Compare website. </p>
<p><span style="background-color:white"><span style="color:black">As a handy checklist from a professor and tax expert makes clear, tax benefits for parents of children with special needs have changed due to recent federal legislation. </span></span></p>
<p>Rising inflation due to the ongoing coronavirus pandemic means that in 2022, Social Security disability benefits will go up 5.9 percent, the sharpest upsurge since 1983. </p>