Although your life insurance policy may pass to your heirs income tax-free, it can affect your estate’s tax liability. 

With many people unwilling to purchase long-term care insurance policies due to the cost, insurers are rolling out new products . . .

A new survey has found that motivated in part by the coronavirus pandemic, younger adults are now more likely to have a will than middle-aged adults. Nevertheless, the overall percentage of Americans with a will has dropped over the past several years.  

President Biden has introduced a plan to spend $400 billion over eight years on home and community-based care for the elderly and people with disabilities. The money would go to expand access to care and support higher-paying caregiving jobs. 

Prices of new long-term care insurance policies for 2021 have have been posted in the annual report from the American Association for Long-Term Care Insurance, an industry group.

Many types of property and investments pass outside of probate and allow you to designate who will receive them after your death. It is important that these designations are kept up to date and are consistent with the rest of your estate plan. 

A recent court case involving a power of attorney demonstrates the problem with using online estate planning forms instead of hiring an attorney who can make sure your documents are tailored to your needs.  

If you are worried that disappointed heirs could contest your will or trust after you die, one option is to include a “no-contest clause” in your estate planning documents.

More and more transactions are done digitally, but estate planning has lagged behind technology. That may be changing, though. Even before the coronavirus pandemic made social distancing necessary, electronic wills were gaining legitimacy.