Medicare Drug Cards May Be Sent Out in January
President Trump’s plan to send $200 drug-discount cards to Medicare beneficiaries has cleared one hurdle, but it isn’t certain that the administration will have enough time to actually get the cards in the mail.
Who Should Purchase Long-Term Care Insurance?
Buying long-term care insurance is one way to protect against the high cost of long-term care. However, this type of insurance may not be for everyone, so consider all your options.
How to Create an Estate Plan That Includes Your Pet
Pets are members of the family, so it is important to consider how to provide for them in your estate plan just as you would the human family members.
What Is Critical Illness Insurance and Is It Worth Buying?
Many employers offer critical illness insurance as part of their benefit package. What is this insurance and is it worth purchasing? You should consider your options before paying for a plan.
Special Tax Deduction for 2020 Allows Donations of $300 to Charity Without Itemizing
As we enter the giving season, there is an additional reason to be charitable this year. Congress enacted a special provision that allows more people to easily deduct up to $300 in donations to qualifying charities this year.
Ability to Withdraw Money Early from Retirement Plan Without Penalty Expires at the End of the Year
If you are experiencing financial hardship due to the coronavirus pandemic, you may want to consider withdrawing money from your retirement account while you still can. The special exemption allowing early withdrawals without a penalty ends soon.
Annuities and Medicaid Planning
Immediate annuities can be ideal Medicaid planning tools for spouses of nursing home residents. Careful planning is needed to make sure an annuity will work for you or your spouse.
Paying Taxes When Selling an Inherited Vacation House
While it may seem great to inherit a vacation house, in actuality it may not be practical to keep the property, especially for tax reasons.
Ability to Withdraw Money Early from Retirement Plan Without Penalty Ends at the End of the Year
If you are experiencing financial hardship due to the coronavirus pandemic, you may want to consider withdrawing money from your retirement account while you still can. The special exemption allowing early withdrawals without a penalty ends soon.
Watch Out for These Potential Problems with Life Estates
Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax efficiency, but there are potential problems to look out for. Knowing the implications and risks of a life estate is essential in determining whether it is appropriate for your situation.
