As the nation waits to see what will be cuts enacted by the newly elected President and the Republican controlled congress, many people feel that they are in the middle of some very uncertain times. If, for instance, the new politicians vote to limit or cut Medicaid benefits, many Americans may find themselves struggling to keep up with their current prescription and medical needs. And while many Americans find themselves concerned with possible future cuts to Medicaid benefits, others find themselves trying to make sure that they have their wills, advanced directives, and other legal documents.
Are You Confident That You Have All of Your Legal Directives in Order?
Uncertain times call for close attention to all of the details that can protect your family and you finances. As you work to prepare for the save keeping of your loved ones, many lawyers recommend that you pay extra attention to the need for everything from life insurance policies to wills and advance directives to power of attorney. And while some Americans have a good handle on all of these legal and medical terms, some U.S. citizens are still trying to figure out the definition of a confusing list of medical, health, and legal terms and recommendations.
- Even though they are recommended and needed, 51% of Americans between the age 55 to 64 do not have wills.
- Federal estate taxes are only applicable if your estate is valued at less than $5.43 million for an individual, or $10.86 million for a married couple — you?re exempt from federal .
- Fixed-rate home loans are available for lengths of 10 years, 15 years, 20 years, or 30 years. Because the payments are the lowest, the most popular fixed-rate home loans are the 30 year options.
- Although the cost of insurance will vary by the property and the level of protection the owner wishes to purchase, it typically costs around 0.5% of the home?s purchase price.
Where are you at in the planning stages of protecting your property, your life, your finances, and your family? As the entire nation waits to see what will come of the upcoming political changes, perhaps it is time for you to seek legal advice to make sure that you have sufficient plans. From Medicaid coverage to living wills, legal advice can help you complete the plans that you need most.