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Almost 50% of Beneficiaries Taxed on Social Security Income
April 27th, 2016
The 1983 law that started taxing Social Security benefits on the wealthiest seniors has never been updated. That means that it now taxes far more people than originally intended and if not changed, will tax more and more people in the future. What to…
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Categories: Aging Issues, Current Affairs, Elder Law, Estate Planning, Long Term Care, Succession, Taxes, Trust Funding, Weblogs, Will
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New Jersey Rethinking High Tax Rates
April 26th, 2016
New Jersey has some of the highest tax rates in the nation. News that the state's wealthiest resident has moved to a state with much lower tax rates has caused some lawmakers to call for changes to New Jersey's tax structure. It is not know…
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IRS Now Allows IRA Distribution Deferrals
April 25th, 2016
IRA growth after retirement has previously been limited by required mandatory distributions. A new deferment option now allows seniors the opportunity for more retirement account growth. Required minimum distributions from retirement accounts such as…
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Categories: Aging Issues, Current Affairs, Elder Law, Estate Planning, Succession, Taxes, Trust Funding, Weblogs, Will
When to Start Social Security
April 20th, 2016
One of the toughest decisions that seniors face is when they should start taking Social Security benefits. Thinking about a few possibilities makes the decision easier for most people. It is common knowledge that monthly Social Security benefits incr…
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Categories: Aging Issues, Current Affairs, Elder Law, Estate Planning, Long Term Care, Medicaid, Succession, Taxes, Trust Funding, Weblogs
Reverse Mortgage Considerations
April 19th, 2016
Reverse mortgages have always been controversial for elder law advocates, but most agree that for some consumers they are a good option. If you are considering a reverse mortgage, then it is important to know what needs to be considered to determine…
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Categories: Aging Issues, Current Affairs, Elder Law, Estate Planning, Taxes, Trust Funding, Weblogs
Tags: Elder Law
Special Needs Estate Planning
April 15th, 2016
Families with members who have special needs that require continuing care have some estate planning options to make sure that care is provided fairly. When an adult child has special needs that require the help and support of parents it is important…
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Categories: Aging Issues, Current Affairs, Estate Planning, Long Term Care, Medicaid, Special Needs, Taxes, Trust Funding, Weblogs, Will
Social Security Benefits and Inflation
April 14th, 2016
Annual adjustments to Social Security benefits should allow those benefits to keep up with inflation. In reality, the system does not always work well. Since 1972 Social Security benefits have received annual cost-of-living adjustments. Using informa…
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Categories: Aging Issues, Current Affairs, Elder Law, Estate Planning, Long Term Care, Medicaid, Succession, Taxes, Trust Funding, Weblogs, Will
Should You Be Confident about Your Retirement Plans?
April 13th, 2016
Many Americans who are confident about their plans for retirement might want to reconsider, especially if those plans rely on Social Security or part-time employment. Recent survey results indicate that almost two-thirds of Americans are at least som…
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Categories: Aging Issues, Current Affairs, Elder Law, Estate Planning, Long Term Care, Medicaid, Succession, Taxes, Trust Funding, Weblogs, Will
It Is Important to Designate a Contingent Beneficiary for Your IRA
April 12th, 2016
A recent IRS private letter ruling highlights why it is important to designate a contingent beneficiary for your IRA in case the primary beneficiary predeceases you. Individual retirement accounts are an important part of many estate plans. By design…
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Categories: Aging Issues, Current Affairs, Elder Law, Estate Planning, Succession, Taxes, Trust Funding, Weblogs, Will
Taxes on Social Security Benefits
April 8th, 2016
Many people are surprised to learn that their Social Security retirement benefits might be subject to federal income taxes. Many Americans are surprised to learn that they can be taxed on their Social Security retirement benefits as explained in My S…
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Categories: Aging Issues, Current Affairs, Elder Law, Estate Planning, Long Term Care, Medicaid, Succession, Taxes, Trust Funding, Weblogs
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