Recently proposed legislation seeks to offer financial relief for unpaid family caregivers. The Lowering Costs for Caregivers Act of 2023 is the result of a bipartisan effort to lessen the costs of family caregiving.
Although 2024 Medicare premiums are seeing an increase, there are nevertheless a few bright spots. Starting on January 1, 2024, Medicare enrollees may be pleased to hear about several positive changes taking place.
To secure the maximum amount in monthly Social Security retirement benefits, Americans must wait until full retirement age to start receiving their payouts. Results from a 2023 survey show that most of today's workers know about this stipulation - and yet the vast majority say they’re willing to file for their Social Security benefits early anyway.
Under a new Medicare Prescription Payment Plan starting in 2025, all Medicare prescription drug plans, including Medicare Advantage plans, will offer enrollees the option to spread out their prescription drug out-of-pocket costs over 12 months.
An estate plan's goal is to find strategies that combine asset preservation, tax advantages, and flexibility. One such strategy is to create an intentionally defective grantor trust (IDGT). Despite its seemingly contradictory name, an IDGT can be a valuable tool…
America has three major housing issues for seniors: affordability, physical accessibility, and access to medical care and other services. There is a need for creative solutions to housing.
The purpose of a living will is to ensure that your future health care decisions and plans are respected. It is a legal document that outlines your preferences for medical treatment and end-of-life care if you become unable to communicate.…
Legally, firearm trusts allow individuals to own firearms in a unique way that allows them to share access to firearms with others. This approach is beneficial for those who own restricted firearms or firearms regulated by the National Firearms Act…
Knowing your family's general inheritance situation and preparing your adult children for their financial future can make a significant difference in their decision-making process, increasing their chances of success. These are practical matters of allocating resources for things like housing,…
An estate tax is imposed in the US on the transfer of assets from a deceased person's estate to heirs or beneficiaries. An estate tax is not the same as an inheritance tax. It’s a tax on the total value…