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The Internal Revenue Service has announced the amount taxpayers can deduct from their 2021 income as a result of buying long-term care insurance.

When you inherit property, such as a house or stocks, the property is usually worth more than it was when the original owner purchased it.

The Uniform Gifts to Minors Act (UGMA) and the Uniform Transfers to Minors Act (UTMA) are sometimes called the “granddaddies” of college savings accounts.

Many websites offer customized, do-it-yourself wills and other estate planning documents, but although these products are convenient, using them could cause serious and expensive legal problems for heirs. 

Revocable trusts are a very popular and effective estate planning tool. But the trust will be ineffective if you do not actually place your assets in the trust.

With the presidential election only a few weeks away, it is important for voters to know the candidates’ positions on issues like Medicare, Medicaid, and Social Security. 

The Social Security Administration has announced a 1.3 percent increase in benefits in 2021, an increase even smaller than last year’s. 

The rules around required minimum distributions from retirement accounts are confusing, and it’s easy to slip up. Fortunately, if you do make a mistake, there are steps you can take to fix the error and possibly avoid a stiff penalty.