Inheriting real estate from family can be both a blessing and a burden. Figuring out what to do with the property can be overwhelming, so it is good to carefully think through all of your choices. There are three main options when you inherit real estate: move in,...
The unique aspects of the coronavirus pandemic may make it advisable to review your current estate plan. Language in estate planning documents that is fine under normal conditions may cause problems for you and your loved ones if you fall ill during the pandemic. Look...
The Setting Every Community Up for Retirement Enhancement (SECURE) Act changes the law surrounding retirement plans in several important ways: • Stretch IRAS. The biggest change eliminates “stretch” IRAs. Under the previous law, if you named anyone other than a spouse...
It is becoming more common for people to be parents at an older age, partly because of changing cultural mores and advances in fertility treatment. Comedian and author Steve Martin had his first child at age 67. Singer Billy Joel, 70, welcomed his third daughter in...
Social Security survivor's benefits provide a safety net to widows and widowers. But to get the most out of the benefit, you need to know the right time to claim.While you can claim survivor's benefits as early as age 60 (and even earlier in certain circumstances), if...
The new tax law may make it harder for some taxpayers to claim a tax deduction for charitable contributions. However, there are a couple of options for you to consider if you want to make the most of your charitable donations under the new tax law.The Tax Cuts and...
Many seniors and their families don't use a lawyer to plan for long-term care or Medicaid, often because they're afraid of the cost. However, an attorney can help you save money in the long run and make sure you're getting the best care for your loved one.Instead of...
The Department of Veterans Affairs (VA) put in place new rules that make it more difficult to qualify for long-term care benefits. The rules, similar to those already in force for Medicaid, establish an asset limit, a look-back period, and asset transfer penalties for...
As the population ages, elder financial abuse is a mounting problem, and vulnerable seniors can become victims of scammers who convince them to empty their investment accounts. For that reason, Financial Industry Regulatory Authority (FINRA), the organization that...
The tax law signed in 2017 doubled the federal estate tax exemption, meaning the vast majority of estates won't have to pay federal estate tax. But that doesn't mean you should ignore its impact on your estate plan.The law doubled the federal estate tax exemption to...
