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What Exactly Is the Estate Tax?

The estate tax in the United States is a tax on your right to transfer property to other individuals upon your death, according to the IRS. In other words, when you die, the U.S. government might be entitled to a portion of your assets before the remainder can be passed to your heirs. Not all inherited assets are subject to the estate tax. In fact, the U.S. estate tax only affects the wealthiest households.

Posted on: March 3, 2020

How Can Siblings Work Together to Care for Dad?

Old resentments and rivalries often die hard, especially with sibling relationships, and caregiving situations can resurrect these issues.

Posted on: March 2, 2020

Alternatives for Stretch IRA Strategies

The elimination of the Stretch IRA is a game changer, especially for parents who were considering bequeathing savings in IRAs to their children.

Posted on: February 28, 2020

The High Cost of Medicare Mistakes

She recently enrolled in traditional (Parts A, B, and D) Medicare and was hit with huge Part B and Part D monthly premiums. She had no idea why it was so high. After many letters, calls, and meetings with Social Security, she still had no idea.

Posted on: February 27, 2020

How Can I Move On after a Loved One Dies?

Even as you work through your grief, there are some important financial tasks to take care of along the way. Here is a framework to use as a starting point.

Posted on: February 26, 2020

How Much Money Is Needed for Long-Term Care?

You have a few options when it comes to affording the whopping expense that is long-term care.

Posted on: February 25, 2020

How is a Guardianship Determined?

Although various degrees of control may accompany a limited guardianship, our discussion here applies to a general guardianship, which includes full control of an individual’s person and property.

Posted on: February 24, 2020

Unintended Kiddie Tax Change Fixed in the SECURE Act

The kiddie tax was created long ago to prevent wealthy parents from cutting their taxes by transferring a large amount of investments to their dependent children, who would be taxed at a lower rate.

Posted on: February 21, 2020

Estate Planning for Unmarried Couples

The number of unmarried couples who live together reached 18 million in 2016, a 29% jump from 14 million in 2007. Among adults age 50 and older, the increase was 75%: About four million were cohabiting in 2016, up from 2.3 million in 2007.

Posted on: February 20, 2020

The Need for Long-Term Care Insurance

Healthcare is a major expense for seniors, so much so that recent estimates put the average cost of it at $387,644 throughout retirement for the typical 65-year-old couple retiring today. While that figure may seem astronomical, it actually doesn't account for a related expense that many seniors will inevitably face: long-term care.

Posted on: February 19, 2020