THIS ARTICLE DESCRIBES THE RULES THAT APPLY TO IRA OWNER’S WHO DIED BEFORE JANAURY 1, 2020. FOR THE RULES THAT APPLY TO DEATHS AFTER 2019, CHECK THIS POST: THE SECURE ACT Initially, it is important to realize that IRA accounts are similar to life insurance policies in that you do get to designate a beneficiary […]

 If things stayed the same, keeping up with the law would be a breeze. Unfortunately, tax and Medicaid laws seem to change on a daily basis. Over the past year, there have been a number of developments. In this article, I’ll offer some of the highlights. As a result of President Trump’s tax package, the […]

In a related article, I review Medicaid “resource assessment” rules that allow you to protect certain assets when your spouse enters a nursing home. These rules are designed to make sure that the spouse in the community is not rendered penniless by having to deplete all of the couple’s resources to pay for a nursing […]

With interest rates remaining low, Social Security benefits will jump just 1.6% in 2020. Benefit recipients will see the raise beginning with the checks to be issued the first week of January 2020.  The Medicare Part B premium that is automatically deducted from Social Security check will rise from 135.50 to $144.60 for the vast […]

See the 2019 UPDATE below Suppose you own a home, have life insurance, own a business or have a substantial retirement account with your employer. Without knowing it, you may need a lawyer. It’s not because you are on the verge of being sued, rather it’s because your net worth may be more than you […]