Make Sure Your Heirs Know…

The financial consequences of failing to keep your legal and financial documents in order can be significant. As pointed out in a recent Wall Street Journal article, state treasurers currently hold $32.9 billion in unclaimed bank accounts and other assets. Additionally, some of the country's...

Required Minimum Distributions

If you're turning 70½ this year, get ready to start taking those mandatory annual payouts (your "required minimum distributions" or RMD's) from your IRA accounts. Unfortunately, this is not something you can afford to put off. As SmartMoney points out in a recent article, the IRS wants you to...

Medicaid Eligibility

Here's another important reminder on how much of a stickler Medicare and Medicaid can be when it comes to denying benefits: the Matter of Komanoff Ctr. for Geriatric & Rehabilitative Medicine v Daines (N.Y. Sup. Ct., App. Div., 2nd Dept., No. 2010-05776, June 28, 2011) (here summarized on...

Landlord as a Retirement Career

In today's economy, it seems that everything old is new again … albeit with a bit of a twist. Years ago, it was common for older couples – and frequently widows – to rent out rooms for extra income. Taking in boarders was a viable way to supplement income. Well, the idea is back, with a...

Letter of Final Instruction

If you're a member of the Baby Boomer generation, there's a good chance you have not done even the most basic of estate planning. In fact, only 56 percent of you have a will, according to a 2011 survey by Rocket Lawyer. So, if you have covered that base, give yourself a well-deserved pat on the...
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