For the past several months, we have received several phone calls from frantic clients who have received an official-looking letter from a company called “Property Transfer Services” which contained language that indicated that some transfer of their property had taken…
Here's a really cool story from the West Coast: A childless widow who lived privately and modestly in a small Southern California city has left her entire $27-million estate to the Alzheimer’s Association of Orange County. The bequest from Helen…
Funerals are among the most expensive purchases many consumers will ever make, ranking only behind the purchase of a home and an automobile. A traditional funeral, including a casket and vault, costs about $6,000, although “extras” like flowers, obituary notices,…
With the holidays in full gear, it’s time to do some planning that can help reduce your tax bill this year. Recently, U.S. News & World Report published an article geared specifically to seniors. Always be mindful of both federal…
If your income is too high, you can’t contribute directly to a Roth individual retirement account, but you can get one in a "backdoor" way. Step 1: Open a traditional IRA (in your case, it’s nondeductible). Step 2: Convert it…
Social Security may be broke and busted but it’s still writing checks; get all to which you are entitled before it changes. Here are three "super secrets" for married folks: 1. Pick which retirement you want; yours or your spouse’s.…
Joe Paterno's transfer of home ownership to his wife in July most likely was not an attempt to shield assets before a sexual-abuse scandal hit Pennsylvania State University's football program. Instead, the move by the legendary coach more likely was…
IRA owners turning 70-1/2 this year must comply with required minimum withdrawal rules -- or pay a costly penalty. If you own one or more traditional individual retirement accounts and will turn 70-1/2 this year, get ready to start taking…
When one spouse suffers from dementia, the other spouse often must take over managing the couple's finances, usually with the help of a power of attorney. But things don't always go smoothly with financial institutions. Just ask Chicago resident Eva…
Yes, a tax-deferred annuity can easily be converted into a Medicaid Compliant Annuity. If the current carrier does not provide a Medicaid Compliant Annuity, the tax-deferred annuity can be "transferred" to the desired carrier by way of a 1035 exchange.…