Social Security Payments Will Increase in 2018, But So Will Medicare Premiums
It’s not great news for retirees who depend upon Social Security, even if it is the biggest increase since 2012. If you want a high-quality lifestyle during retirement, don’t count on Social Security or Medicare. First, the good news from AARP’s article, “Social Security Payments to Increase 2 Percent Next Year:” Social Security benefits will…
Read MoreIncreasing Bitcoin Prices Driving Digital Currency Holders to Estate Planning
Traditionally, clients start on their estate plan before the birth of a child or a new marriage. Rising prices in cryptocurrencies, like Bitcoin, are introducing a new generation to estate planning. As even small holdings have grown in value, it is increasingly important for digital currency owners to have an estate plan. There are complexities…
Read MoreIs an Annuity Right For You?
Annuities are a mixed bag. For some, they are a useful tool, but they aren’t for everyone. Be certain that your advisor is making recommendations based on your specific needs, and not a product line. The differences between annuities are very broad, and you’ll want one that is correct for you. Annuity sales are on…
Read MoreHow Millions of Americans Manage to Care for Older Adults and Those with Dementia
The number of Americans who provide home care for older adults and adults with Alzheimer’s or other forms of dementia is staggering. According to the Bureau of Labor Statistics, more than 41 million Americans provide care to older adults. The Alzheimer’s Association reports that more than 15 million provide care for someone with dementia. The…
Read MoreThe Toughest Conversation You’ll Ever Have
It’s the topic none of us want to think about, but talking with your children and loved ones about your end-of-life wishes can be one of the more important conversations. In some families, it’s easier to talk about sex than it is to talk about money, while in other families it’s the opposite. But few…
Read MoreEstate and Gift Tax Limits Increase for 2018, Says the IRS
Inflation is the primary reason for increases in the 2018 estate and gift tax exemptions. After months of speculation about whether or not the estate and gift tax exemption would increase, the numbers are now official. The estate and gift tax exemption for 2018 is $5.6 million per individual, an increase from $5.49 million in…
Read MoreMedical Tax Deduction on the Chopping Block in GOP Tax Bill
The seriously ill, disabled and seniors are all threatened by a proposal that’s part of the tax reform bill that was recently released. The medical tax deduction is under fire, included in the tax reform bill presented by House Republicans. This would have devastating economic consequences for seniors, people suffering from chronic conditions and the…
Read MorePhilanthropist and Wife to Amway Co-Founder Dies
If the name Helen DeVos sounds is familiar, that may be because the late DeVos was mother-in-law to Betsy DeVos, Secretary of Education. Helen DeVos was a beloved philanthropist who supported many causes, but her first love was her family. Helen DeVos was loved by her family and the people of Grand Rapids, Michigan and…
Read MoreOlder Parents Face Different Estate and Financial Planning Needs
Wealthy celebrities may not have to worry about the financial side of welcoming babies in their senior years, but estate planning and retirement lifestyles for regular people need to be considered. Older parents or couples, where one member is significantly older than the other, need to address their estate planning and asset division differently than…
Read MoreProgressive Approach to Elder Abuse Uses App to Help Protect Seniors
A new app will allow those who work with the elderly in Erie County, New York to report concerns about abuse and upload documents and photos. Designed for service providers and advocates for seniors, the Legal Risk Detector app has been introduced through a joint effort from the Center for Elder Law & Justice, the…
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