Estate Planning, Probate & Elder Law Tips, Tricks, News, Upcoming Events & More
The Little-Known Tax on Roth 401(k) Distributions
Employee retirement savings plans come in two main flavors: the traditional 401(k) and the Roth 401(k). The benefit of a Roth 401(k) over a traditional 401(k) after retirement is that distributions from a Roth 401(k)...
New Brokerage Account Safeguards Aim to Protect Seniors From Financial Scams
New rules have been put in place to protect seniors with brokerage accounts from financial scams that could drain the accounts before anyone notices. As the population ages, elder financial abuse is a mounting problem. Vulnerable...
Choosing Retirement Account Beneficiaries Requires Some Thought
While the execution of wills requires formalities like witnesses and a notary, the reality is that most property passes to heirs through other, less formal means. Many bank and investments accounts, as well as real...
Be on the Lookout for New Medicare Cards (and New Card-Related Scams)
The federal government is issuing new Medicare cards to all Medicare beneficiaries. To prevent fraud and fight identity theft, the new cards will no longer have beneficiaries' Social Security numbers on them. The Centers for Medicare...
Proving That a Transfer Was Not Made in Order to Qualify for Medicaid
Medicaid law imposes a penalty period if you transferred assets within five years of applying, but what if the transfers had nothing to do with Medicaid? It is difficult to do, but if you can...
Gifts to Grandchildren: What Do UGMA and UTMA Have to Do With Grandma?
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,...
A Guidebook to Planning for Old Age
Joy Loverde. Who Will Take Care of Me When I’m Old? Plan Now to Safeguard Your Health and Happiness in Old Age. New York, NY: Da Capo Press, 2017. 313 pages. Click here to order...
How to Use IRA Savings to Buy Long-Term Care Insurance
Long-term care insurance (LTCi) is an important element of good retirement planning, since it offers financial protection against unexpected illness or disability that would otherwise eat into savings. However, many LTCi plans are simply too...
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