Wednesday, October 5, 2022

How to Avoid Ambiguities in a Will

Will drafting can be complicated. People can run into problems if they attempt to do it on their own, or rely on websites that do...
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Maintaining Some Independence through Assisted Living

Most elderly people don't need nursing homes, but many require help with daily activities. If providing that support isn't practical for family and friends, assisted...
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When Can In-Home Care be Deducted as a Medical Expense?

The U.S. Tax Court provided some insight into the question of the deductibility of in-home care of a disabled individual. The case involved an...

Six Common Myths About Trusts

Most of us know that a trust is a useful way to safeguard financial assets for your benefit or for someone else. But the common...

Charitable Remainder Trust: Save on Taxes While Doing Good

If you own assets that have appreciated significantly over the years, you may be able to profit more by giving them away than by selling them. By setting...
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Deductible Medical Expenses for Seniors

The older people get, the more medical expenses they tend to incur. The only saving grace is the expenses may add up to a federal income...
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Take Control of a Loved One’s Care

The responsibility of arranging outside care for an elderly parent or disabled loved one may fall to you someday. It's not an easy task, but...
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Understanding the Basics of Medicare

Many older Americans rely on the Medicare program for their primary health care coverage. Medicare is the federal program that helps pay medical bills for people...
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Pair a Trust and an Installment Sale to Pass on Your Business

For many people, a family business is a significant source of wealth, so passing it on to the next generation in a tax-efficient manner is...
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7 Estate Planning Questions to Ask When Marrying Late in Life

Although senior citizens are aging, their hearts remain young. Marrying later in life to establish companionship is a route that many people take. For many...

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No Will? Who Gets the Assets?

Let's say an individual dies without a will. Who will inherit his or her assets? The first in line are spouses and children. But what...

Don’t Overlook Write-Offs for Medicare Premiums

Many seniors (and their families responsible for filing tax returns for them) have gotten into the habit of just claiming the standard deduction instead of...

When Divorced Empty Nesters Remarry

Later-life remarriages differ from earlier-life remarriages — especially when adult children factor into the equation. If you or your parents plan to tie the knot...

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