If Your Estate Plan Includes IRAs, a New Law Means It Is Time to Reevaluate
Both workers and retirees may need to rethink some of their estate planning in light of the newest spending bill. The Setting Every Community Up for Retirement Enhancement (SECURE) Act, part of the massive bill, [...]
Make Sure Your Plan Beneficiary Choices Are Up to Date
Many people periodically update their wills or other estate plans, but don't update who will receive distributions from their retirement plans (such as IRAs and 401(k)s) upon their deaths. Every year you should review your [...]
Free Tax Preparation Help Is Available to Most Seniors
Seniors and retirees should know that they may be able to use online tax preparation software free of charge. Most low- and middle-income Americans qualify for the free help, but do not take advantage of [...]
Understanding the Differences Between a Living Trust and an Irrevocable Trust
Trusts can be useful tools to protect your assets, save on estate taxes, or set aside money for a family member. But before you commit to adding a trust to your estate plan, make sure [...]
Will Restrictive Immigration Policies Cause a Shortage of Caregivers for the Elderly?
As the population ages, the need for caregivers is growing, but more restrictive immigration policies such as those being promoted by the Trump administration could have a negative impact on a caregiving industry that is [...]
Do You Have the Right Fiduciary?
A fiduciary is a fancy legal term for the person who will take care of your property for you if you are unable to do it yourself, such as the executor of an estate, the [...]
Feds Release 2020 Guidelines Used to Protect the Spouses of Medicaid Applicants
The Centers for Medicare & Medicaid Services (CMS) has released the 2020 federal guidelines for how much money the spouses of institutionalized Medicaid recipients may keep, as well as related Medicaid figures. In 2020, the [...]
The Durable Power of Attorney
For most people, the durable power of attorney is the most important estate planning instrument available -- even more useful than a will. A power of attorney allows a person you appoint -- your "attorney-in-fact" [...]
Understanding Revocable Trusts
Revocable trusts are an effective way to avoid probate and provide for asset management in the event of incapacity. In addition, revocable trusts--sometimes called “living” trusts--are incredibly flexible and can achieve many other goals, including tax, [...]
Movement Grows to Add Dental Coverage to Medicare
Medicare does not offer much in the way of dental benefits. To get dental coverage, you need to purchase separate and often costly dental insurance or sign up for a Medicare Advantage plan that includes [...]
New Law Makes Big Changes to Retirement Plans
President Trump has signed a spending bill that makes major changes to retirement plans. The new law is designed to provide more incentives to save for retirement, but it may require workers to rethink some of their [...]