Category archives: Seniors
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7 years ago
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Grandparents may be tempted to leave an IRA to a grandchild because children have a low tax rate, but the "kiddie tax" could make doing this less beneficial.
An IRA can be a great gift for a grandchild. A young person who inherits an IRA has to take minimum distributions, but because the dist... [read more]
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7 years ago
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Online bill paying has become a popular way to make paying bills easier, and now you can pay your Medicare premiums online too. If your bank allows customers to pay bills online, you can use that service to pay your Medicare premiums.
To set up online bill paying, contact your bank. To make s... [read more]
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7 years ago
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Please join us for a Chair Yoga Class for Seniors at Yoga Den Fleming Island, on Thursday, September 28 from 12 - 1 p.m. Yoga Den Fleming Island is located at 3555 U.S. Highway 17, at the southeast corner of U.S. Highway 17 & Westover Road, just two ... [read more]
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7 years ago
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Many seniors and their families don't use a lawyer to plan for long-term care or Medicaid, often because they're afraid of the cost. But an attorney can help you save money in the long run as well as make sure you are getting the best care for your loved one.
Instead of taking steps based on ... [read more]
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7 years ago
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No one wants to think about his or her death, but a little preparation in the form of a prepaid funeral contract can be useful. In addition to helping your family after your death, a prepaid funeral contract can be a good way to spend down assets in order to qualify for Medicaid.
A prepaid or... [read more]
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7 years ago
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Have you or a loved one been denied Medicare-covered services because you’re "not improving"? Many health care providers are still not aware that Medicare is required to cover skilled nursing and home care even if a patient is not showing improvement. If you are denied coverage based on this outdate... [read more]
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7 years ago
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Sometimes seniors find themselves owing past-due federal taxes they cannot afford to pay. Although notices from the IRS can be especially frightening, there are solutions.
If the sum owed is less than $50,000, the IRS will accept monthly payments over five years. For example, if $6,000 is ow... [read more]
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7 years ago
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As baby boomers continue to work past retirement age, age discrimination lawsuits are becoming more common. Two out of three workers between ages 45 and 74 say they have seen or experienced age discrimination, according to AARP. However, experiencing it and proving it are two different things.
... [read more]
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7 years ago
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Immediate annuities can be a useful tool to protect the spouse of a nursing home resident who applies for Medicaid. These types of annuities allow the nursing home resident to spend down assets and give the spouse a guaranteed income. But immediate annuities may not work in every state, so be sure t... [read more]
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7 years ago
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After initially delaying a rule intended to prevent financial advisers from steering their clients to bad retirement investments, the Department of Labor (DOL) announced that the rule will go into effect on June 9, 2017, but its future is still unclear.
Earlier this year, President Trump sign... [read more]
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7 years ago
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In a move that could be confusing to seniors who are vulnerable to scams, the IRS will begin using private debt collection agencies to collect past-due taxes. The new program will begin in April 2017.
Authorized by a law Congress passed in December 2015, the IRS may now contract with private ... [read more]
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