When a spouse enters a nursing home, the cost of care can be financially devasting. Many families are simply unable to afford long-term care, without applying for Medicaid. To qualify for Medicaid, there are limits on the resources that an applicant may have. Resources include both income and assets.
Lifting the burden now, will ensure your last wishes are carried out at the right price.
Smart estate planning, therefore, includes addressing how to handle digital assets.
News that Detroit real estate billionaire and Cleveland Cavaliers owner Dan Gilbert suffered a stroke over the weekend, has raised interest in his succession plans for his many business interests.
Estate administration in the digital age requires having a strategy to share passwords to your computer, email and online accounts. Without that, things quickly get complicated.