In these uncertain times, it’s more important than ever to have your legal, financial and medical ducks in a row. Sadly, when serious illness strikes it is usually quite rapid and often unexpected. In these times, however, we do have forewarning that we are all at risk of contracting COVID-19, the coronavirus.
Treasury Secretary Steven Mnuchin announced Friday that the administration has moved the IRS deadline for filing taxes from April 15 to July 15 due to the disruption caused by the coronavirus.
Older drivers these days are keeping their licenses longer and logging more miles on their cars than in the past, according to the Insurance Institute for Highway Safety. Nevertheless, fatal crash rates do tend to increase considerably after age 70 and reach their peak among drivers 85 and older.
Virtual Estate Planning: For those of you that are wanting to get your estate planning affairs in order, but are nervous about making multiple trips to the attorney's office and getting out-and-about around town, we wanted to let you know that you can still get your estate planning documents and medical directives in place during […]
If you have a high deductible health plan (HDHP), you may still be able to get coverage for Covid-19 testing and treatment without paying a deductible.
If you have a child with special needs, a trust may be a financial priority. There are many crucial goods and services that Medicaid and Supplemental Security Income might not pay for, and a special needs trust may be used to address those financial challenges. Most importantly, a special needs trust may help provide for your disabled child, in case you're no longer able to care for them.
In other words, family members who are not named to inherit anything in the will may still see the list of all of the assets. If you don’t want that result, you can avoid it by establishing a trust.
Many people have tens of thousands–even hundreds of thousands–of dollars in their IRAs. If you have an asset that large, shouldn’t you devote more effort to planning for its ultimate disposition?
