Choosing nursing home care can be a big, emotional decision. Long-term care is a sizable investment, and many people struggle with entrusting their loved one’s care to someone else. Now some families are dealing with an additional hurdle, as nursing home closures are forcing some seniors to relocate, widening the distance families must travel to visit. In what is described as an “epidemic,” rural nursing homes across the U.S. are closing. With staff shortages and low

Generally speaking, estate planning laws were designed for the traditional nuclear family, a married couple with kids. But according to the 2010 U.S. Census, such families are less than 50 percent of the total. Non-traditional families, including single parents, blended families and unwed partners, need to pay particular attention to their estate plans to avoid unwanted consequences. If you die without a will, your assets will be distributed according to your state’s default laws. If you’re

When you write a will, you have control over how your assets will be distributed after your death. However, if someone in your family disputes your will, an anonymous probate court judge could end up with the final say over who gets your property. Emotions run high when someone dies. If family members aren’t content with what they’ve received or don’t believe your wishes are being interpreted properly, they may contest your will. Will contests can

For a limited time, investors can help reinvigorate distressed communities while deferring capital gains on profits earned elsewhere. The 2017 Tax Cuts and Jobs Act created the Qualified Opportunity Zone program in order to offer tax incentives for investment in economically blighted communities. When you invest in an Opportunity Zone, you can defer and possibly reduce taxes on recognized capital gains. If you will be subject to a large tax bill as a result of capital

When you inherit a home and sell it, you pay capital gains tax based on the value of the home on the date of the owner’s death. For example, if you inherit your dad’s vacation cabin, and it was worth $300,000 when he died, and you later sell it for $325,000, you’ll pay tax on the $25,000 gain.

As of Sept. 21, a new law requires that the three major credit reporting bureaus allow you to place or lift a security freeze on your credit files without charge. When your files are frozen, lenders can’t check your credit. That means an identity thief can’t take out new credit or borrow in your name.

With the cost of college tuition rising, some grandparents are pitching in. Grandparents who want to help out have several options, but many come with limitations or possible pitfalls: Cash gifts: If your grandchild won’t qualify for financial aid, a cash gift may be a good option. Under federal law, couples can give up to $30,000 per year before being subject to gift taxes. However, if your grandchild might qualify for financial aid, such a cash

Generally, people don’t think about a Health Savings Account (HSA) as a savings account. The HSA was intended to be a tax-advantaged account to pay for medical expenses, but in certain ways it’s better than an IRA. An HSA is a tax-preferred investment account with triple tax advantages. Your money isn’t taxed when it’s contributed, as it grows, or when you spend it on qualified expenses. It’s the only tool that allows you to contribute tax-deductible