Think you know enough about Social Security to make the best decision about when to claim your benefits? The catch is, when the same folks took an eight question quiz about crucial Social Security rules, just 5% got all the answers right. Did you know that only about a quarter of workers age 55 and older are […]

Several experts said that the ways that families handle these situations depends on multiple factors, such as what caused the disparity, how strong the sibling relationships are, whether the parents have money and more. When planning for your estate, you often look at the financial stability of your children. Who is better off financially? Do […]

Keep an eye on the Obama Administration budget proposals as there are several provisions which may affect estate planning.  For example, there is a provision which would reduce the $5 Million federal estate tax exemption to $3.5 Million – the 2009 level.  Stay tuned! http://www.treasury.gov/resource-center/tax-policy/Documents/General-Explanations-FY2015.pdf

Although the AMT’s original intent was to ensure the wealthiest earners paid some tax, it now ensnares a large number of taxpayers because the income threshold use for calculating the AMT hasn’t kept pace with the growth of income reported by taxpayers. Talking about taxes isn’t exactly glamorous stuff. Discussions about the alternative minimum tax […]

While dynasty trusts may at first glance seem complex, they are an excellent mechanism to create structure around the family legacy and fortune and potentially avoid the familiar proverb of a wealthy family going from “shirtsleeves to shirtsleeves in three generations.” Ready for a history lesson on using trusts to pass on wealth? Long ago […]

A careful review of the return can point the way to opportunities for decreasing your taxes and increasing after-tax wealth. “Those that ignore history are bound to repeat it.” Translation: learn from mistakes made in the past and avoid repeating them. In other words, you should review what didn’t work in order to guide yourself […]

Unlike Medicare, which is fully regulated by the federal government, Medicaid is a joint program of both fed­eral and state governments. The federal government sets guidelines, and states establish their own rules and programs within these broad parameters. Do you know the difference between Medicare and Medicaid? Although you may feel you need a PhD. […]

To find the Most Affordable cities, we started with America’s 100 largest Metropolitan Statistical Areas (MSAs) and Metropolitan Divisions (MDs), all with populations of 600,000 or more. When making purchases, more than likely you want to get the biggest bang for your buck. Everyone likes a good deal! So when deciding where to live and […]

There are various reasons why our elders are such easy prey for these thieves. People taking advantage of other people is just an ugly reality of the world we live in. Some of the worst offenders are those who dupe the elderly. Seniors can be easily confused and too trustworthy at times, which makes them […]

When is the right time to create an elder law estate plan? Even though you may not want to be troubled with serious issues such as death, disability, and long-term care, you are better off to start planning now before it’s too late. This was the advice in a recent article in the Times-Herald Record […]