Old age should come with a caution label for many reasons. Most of us expect to live longer than our parents and grandparents. And with longer life come difficulties – and sometimes financial predators. Our vulnerability to predators is made worse by another problem:...
If the house is sold, the proceeds should be divided three ways with your mother receiving a third. This is also true of any rental income. A key issue after your mother’s death is whether she, your sister, and your brother-in-law own the property as joint tenants or...
When choosing a beneficiary for a retirement plan, it is important to understand how your spouse will be treated under the plan. Surviving spouses are treated differently under 401(k)s and individual retirement accounts (IRAs). While a 401(k) provides protections for...
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 spouse of a Medicaid recipient living in...
Advocates are warning that a little-noticed proposed rule change could result in hundreds of thousands of Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) recipients, many of them children, losing benefits. The change would subject...
The Centers for Medicare and Medicaid Services (CMS) has released its Spousal Impoverishment Standards for 2020. As we earlier reported, due to CMS’s apparent departure from past rounding practices the 2020 numbers differ somewhat from the earlier and usually...
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 planning. The Setting Every Community Up for...
Inheriting real estate property from your parents is either a blessing or a burden — or a little bit of both. 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...
Written By: Lelia Wardwell Mander It is possible that an individual, once diagnosed as a person with special needs, some time in the future will no longer qualify as “disabled” according to IRS regulations. The individual’s condition might have improved through...
No parents want their children to fight among themselves after they are gone. Sadly, conflicts often arise, especially when a parent has gifted or loaned money to one child and not others. However, a few key words in your estate plan can minimize the potential for...
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