The Uniform Gifts to Minors Act (UGMA) and the Uniform Transfers to Minors Act (UTMA) are sometimes called the “granddaddies” of college savings accounts.  Both allow parents to establish custodial accounts for a minor child, and a grandparent can then make gifts to...

Social Security’s long-term financial situation: High unemployment rates mean Social Security shortfalls could begin earlier than projected.  Social Security retirement benefits are financed primarily through dedicated payroll taxes paid by workers and their...

This is unfortunate and, unfortunately, not that unusual. Parents and others make different distributions in their wills from the beneficiary designations on their accounts, and the heirs have no idea what the deceased person had in mind. Did he or she change her mind...

If you plan to move states, can you take your Medicare or Medicaid plans with you? The answer depends on whether you have original Medicare, Medicare Advantage, or Medicaid. Medicare If you have original Medicare (Plans A and B), you can move anywhere in the country...

Talking about estate planning is a difficult, emotional topic but it’s essential for every family. Unless you’re certain your parents have an up-to-date will and a wider plan for what should happen in the event of their passing, you shouldn’t assume everything will be...

There are some serious drawbacks to many options for giving gifts to grandchildren. Either there are no tax or estate planning advantages, or you have no control of the funds (or lose control after a certain point), or the money could affect a grandchild's eligibility...

Do you want to use your IRA to help a charity, but also benefit your heirs? Instead of leaving your IRA directly to your children, you can leave it to a charitable remainder unitrust (CRUT) while still benefiting your children. With the SECURE Act making changes...

With the coronavirus pandemic responsible for more than a hundred thousand deaths and disrupting life across the United States, the only way for the country to return to normal is an effective vaccine. When a vaccine is available, Medicare will cover the cost....

A controversial policy that reduces the benefits of military spouses is on the way out. The so-called “widow’s tax” cuts assistance to surviving military spouses who qualify for benefits under two different military benefit programs. The two programs are: The...

Estate administration is the process of managing and distributing a person’s property (the “estate”) after death.  If the person had a will, the will goes through probate, which is the process by which the deceased person's property is passed to his or her heirs and...

There are many unknowns when planning an estate, but you can’t let the uncertainties get in the way of creating any kind of plan. Having an imperfect plan is usually better than having no plan at all. When planning an estate you want to be able to consider all the...

Litigation over James Brown’s estate has been dragging on for 14 years, but the case took a big step towards resolution when the South Carolina Supreme Court ruled that the woman claiming a spousal share in Mr. Brown’s estate was never legally married to him. Mr....

A New Jersey man has been charged with stealing $330,000 from the special needs trust (SNT) of a man living in a long-term care facility.  The case highlights the importance of having a professional trustee manage an SNT. According to a criminal complaint filed by the...

A trust is a legal arrangement through which one person (or an institution, such as a bank or law firm), called a "trustee," holds legal title to property for another person, called a "beneficiary." Trusts fall into two basic categories: testamentary and inter vivos....

Written By: Andy Jones More than three dozen disability rights groups are urging Congress to end two burdensome waiting periods that Social Security Disability Insurance (SSDI) recipients must currently endure.  The groups sent a letter to both the Democratic and...