There are several financial moves that investors should be making in the years before they leave work that might result in an easier time preserving savings, reducing tax bills, and overall being providers for loved ones and heirs. Financial advisers reporting for The Wall Street Journal have proposed that investors nearing retirement should consider the following four tips:
Sadly, it is all too common that elderly persons fall victim to abuse. Whether it is physical, emotional, or financial abuse, the vulnerability of older individuals makes them easy targets for such ill-treatment. Financial abuse is a difficult type of abuse to recognize and can be easily overlooked because there are not always blatant signs of it.
A key facet of the 21st century estate planning that many people overlook is a digital estate plan. With our lives becoming more engrained in technology each day, it is important to protect these assets too!
People often have questions regarding the STAR real property tax exemption. The STAR exemption entitles anyone who owns a primary residence to a reduction in the amount they pay for School Tax (STAR = School Tax Relief).
According to a recent New York Times article, the US Energy Department projects a warmer forecast this coming winter season. After enduring frigid temperatures and higher energy costs last winter, many American consumers will spend less this winter. Because temperatures are forecast to be warmer than last winter, that will mean less demand for heat.
The confusion surrounding the status of unspent IRAs that parents leave to their children has finally been cleared up, following a unanimous Supreme Court decision. The Court ruled this week that inherited Individual Retirement Accounts (IRAs) are not shielded from creditors throughout bankruptcy proceedings. Typically, bankruptcy law protects retirement assets from being eaten up by creditors after filing, but inherited IRAs differ because the money can be accessed before the new owner actually retires.
Imposter fraud has become increasingly endemic in the U.S. in recent years. The term has been coined to describe a situation in which people pose as law enforcement agents, government officials, or even relatives in order to scam money from innocent people on the other end of the phone.
The 2014 National Healthcare Decisions Day is Wednesday, April 16, 2014. Over 100 million American adults have not designated an agent to make medical decisions nor documented the type of medical care they desire. Although it is a difficult issue to address, it is important for all adults to consider who is best-suited to make medical decisions for them the event they become too ill to convey their wishes personally.
Forbes has dubbed New York one of the worst places to die in 2014. The reason for the moniker is the estate tax which is a tax on your right to transfer property at your death. New York, along with only thirteen other states, still levies the tax. The state estate tax is in addition to the federal estate tax.
Medicaid is a joint federal-state Social Security program. The laws governing Medicaid vary depending on whether the applicant is single or married, receiving services in the community or in a nursing home, and under or over the age of 65. Disabled individuals of any age, and medically needy individuals over the age of 65 are eligible for Medicaid as long as they meet the financial criteria.