Javier Castro was in the hospital and wanted to write a will. Because there was no paper handy, he used a Samsung Galaxy tablet computer and signed the will using the tablet’s stylus. His brothers also signed as witnesses. After Javier’s death, his family printed out the will and submitted it to probate in Ohio. A judge accepted the will, finding that it met the requirements of Ohio law, which are that a will be in

In order to qualify for Medicaid in most states, you can’t have more than $2,000 in “countable” assets. When calculating their total assets, many people overlook life insurance, which can count as an asset depending on the type of insurance and the value of the policy. Life insurance policies are usually either “term” or “whole life.” Term policies don’t count as an asset – and won’t affect Medicaid eligibility – because they don’t have an accumulated

The amount you can deduct on your taxes as a result of buying long-term care insurance has been increased by the IRS for 2014. If you itemize your deductions, you can generally claim a deduction if your premiums, together with your other unreimbursed medical expenses, amount to more than 10% of your adjusted gross income (or 7.5% if you’re 65 or older). The maximum amount of the premiums you can deduct each year depends on your

Many middle-income people have too much money to qualify for Medicaid, but can’t afford a pricey long-term care insurance policy. In an effort to encourage more people to buy long-term care insurance, Congress created something called the “Qualified State Long-Term Care Partnership” program. In states that offer the program, you can buy special long-term care policies that allow you to protect your assets and still qualify for Medicaid when the long-term care policy runs out. Here’s

A federal court has thrown a life preserver to some surviving spouses who are facing foreclosure due to an “underwater” reverse mortgage. In a traditional mortgage, you borrow money against your house and pay it back in monthly installments over time. With a reverse mortgage, you borrow money against your house, but you don’t have to pay it back until you die, sell the house, or move – which means you don’t owe anything as long

Many people are aware that seniors are entitled to collect Social Security benefits that are calculated based on their spouse’s work record. What’s less well-known is that this benefit applies in many cases to divorced spouses. In fact, ex-spouses may even be entitled to survivors benefits in certain circumstances. As a spouse, you have the option of (1) claiming a Social Security retirement benefit based on your own earnings record, or (2) collecting a spousal benefit