A revocable living trust can be a great way to avoid probate, manage your assets if you become incapacitated, and help to protect your family’s privacy. If you have one, it’s a good idea to review it every few years to make sure that it still meets your goals and is up-to-date with the law.
The most important questions involve which assets are in the trust and what will become of them if something should happen to you. But there are a lot of other factors to think about that can also be very important for your estate plan. Here are some common issues and problems with living trusts that you might want to consider:
Continue Reading Is Your Revocable Living Trust Up-To-Date?
Sometimes Medicare will decide that a particular treatment or service isn’t covered, and will deny your claim. The good news is that if you believe you should have been paid, you can appeal.
The federal government makes the general rules for Medicare, but the day-to-day administration is handled by private insurance companies that contract with the government. In addition, the government contracts with committees of physicians who decide the appropriateness of care received by most Medicare beneficiaries in hospitals.
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Have you been officially asked to manage someone else’s money? For example, have you been named as an agent under a power of attorney or a trustee of a trust? As our society ages, more and more people are being asked to take on these roles, but they can be daunting.
In order to help, the U.S. Consumer Financial Protection Bureau has published four free guides; under the general title Managing Someone Else’s Money. The guides are designed for (1) agents under a power of attorney, (2) court-appointed guardians, (3) trustees of a trust, and (4) people appointed to manage someone else’s government benefit checks, such as Social Security and Veterans.
Continue Reading Here’s Help for People Who Have to Manage Someone Else’s Money