Many people have heard of Powers of Attorney, and now, during this time of unprecedented disaster and flood, these two documents are more important than ever. There are two Powers of Attorney – the Durable (Financial) Power of Attorney and the Medical Power of Attorney. The Durable Power Attorney allows…
Taxpayers who have a valid extension until October 15, 2017 to file income tax returns and who live in the covered Texas disaster area may be helped by the IRS extending the filing periods. IRS announced certain relief from deadlines relating to filing and certain tax deposits for Hurricane Harvey…
Living trusts can achieve different goals, depending upon how they are drafted. Knowing the fundamentals will help you decide how to go forward. It’s important to know that not all living trusts are the same. However, common reasons for using a living trust are for privacy and avoiding probate. Placing…
Higher fees are coming to high earners, when income thresholds for the highest surcharge tiers drop even further next year. If you were hit with premium surcharges for Medicare Part B and Part D already, these costs will increase again in 2018, according to a recent article in Kiplinger, “Medicare…
Most life insurance companies are quite efficient. However, you will need the right documents. One of the basic tasks that follow the loss of a spouse or family member is figuring out what life insurance policies were in place and contacting the insurance company or companies to find out how…
Unless you really want to give your ex the proceeds of your life insurance or 401(k), it is best to take the time to do this one task. If you haven’t looked at the paperwork for your life insurance policies, bank accounts, retirement accounts, investment accounts and any other asset…
New regulations from the Department of Labor may come into play for Americans deciding which type of account is best for their retirement savings. There are significant differences between 401(k)s and IRAs, and as reported in a recent post on wjbf.com, “Advantages and disadvantages to a 401k and an IRA,”…
The sad truth is, foreign lottery scams are still around because they are successful for the scammers. Millions of Americans are targeted every year. The first reaction from someone receiving a letter about a large award is often a wave of relief, especially if they are facing financial problems. For…
Here’s another reason to meet with your estate planning attorney face-to-face. An overseas-based scam is targeting the elderly with a website that uses photos and content stolen from real law firm websites. A website purporting to be an estate planning law firm is the subject of a lawsuit from the…
You must sign up for Medicare Part B no later than eight months after retirement, or the penalties could be serious. These are the details that really matter when it comes to retirement and Medicare. If you signed up for Medicare Part A on your 65th birthday but were still…