A large percentage of Americans require assisted living care at some point during their senior years. Their understanding of how that gets paid for is way off base. It’s a hard lesson to learn. Approximately one-third of Americans (34%) thought that Medicare would cover their nursing home costs, as reported…
Your best bet for making or changing a will, is to sit down with an experienced estate planning attorney, so that your will won’t be invalid. Mistakes in wills are not easily fixed. Having an estate plan in place and discussing your estate plan with your loved ones in advance,…
Statistically speaking, women live longer and earn less than men. That makes financial and retirement planning far more important for women. It’s not pleasant to contemplate, but because women often take time out from their careers to raise children or take care of elderly parents and still earn less than…
It is premature for anyone who depends upon either Medicaid or Obamacare to breathe a sigh of life. While recent attempts to repeal Obamacare have failed, both of these programs are being targeted. Medicaid is far more important to more Americans than most people know. It does provide healthcare for…
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…