The oldest of the 75 million baby boomers have begun turning 70 in 2016. If you are among them, the IRS will likely be expecting you to start cashing out your tax-advantaged retirement savings that you may have spent decades building up.
Inheriting an IRA may seem like a good thing, but there can be tax consequences if you aren’t careful.
Federal law requires that beginning on April 1 of the year after you reach age 70 1/2, you must begin withdrawing a minimum amount
from your non-Roth individual retirement account (IRA) or 401(k) accounts. But what if you die after age 70 1/2 and before all the account funds have been distributed?
At the doctor’s office and want to know if a procedure is covered by Medicare? There is now an app for that.
Just as we create estate plans for our eventual demise, we also need to plan ahead for the possibility that we will become sick and unable to make our own medical decisions.
It is a very good idea to create advance directives in order to plan for the possibility that you may one day be unable to make your own medical decisions. In doing so, there can be confusion about the difference between a living will and a “do-not-resuscitate” order.
Parents want their children to be taken care of after they die. But children with disabilities have increased financial and care needs, so ensuring their long-term welfare can be tricky.
Medicare covers preventative care services, including an annual wellness visit. But confusing a wellness visit with a physical could be very costly.
Social Security survivor’s benefits provide a safety net to widows and widowers. But to get the most out of the benefit, you need to know the right time to claim.