Archive for November 2017
Medical 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…
Read MoreHow Making Provisions for End-of-Life Care Helps Loved Ones
Most people avoid making decisions about end-of-life care, which can make an emergency situation much tougher for family members, who must make decisions without the benefit of knowing what you would have wanted. It’s unpleasant to think about, but apparently rocker Tom Petty did: he had thought about his end-of-life care and executed them using…
Read MoreOverly Generous in 2017? Here’s What You Need to Know About Gift Taxes
There are a few basics you’ll want to know about gift taxes, especially if a gift inadvertently exceeded the annual $14,000 limit. What would happen if a gift that started out at a value under the $14,000 annual limit was a gift of stock that, from the time you decided to gift it and until…
Read MoreBasics About Wills in Kansas
A will is the foundation of many estate plans, and offers an opportunity for you to convey your property to family members and friends after you have passed. Every state has its own requirements about wills, legal documents that provide instructions for property distribution after death. In Kansas, there are certain requirements for a will…
Read MoreGenerous Ideals from Millennials May Change With Time and Experience
For now, a report on affluent millennials reveals them to be extremely idealistic, willing to put their retirement savings on a back burner in order to give their kids every advantage. The affluent millennial may have a different take than their less successful peers. However, an online survey of 1,000 affluent investors, with assets of…
Read MoreGiving the Family Farm to Grandchildren Instead of Children
There are often bumps along the way, when it’s time to plan for the future of a family farm. Farms are usually passed along to the next generation, but there are instances when parents want to give the farm to grandchildren. A history of farming for five generations is a wonderful and increasingly rare thing.…
Read MorePushing Back Your Retirement Date Can Reap Big Rewards
Continuing to work a few more years past 62, can have a big impact on your retirement finances. This is especially true for federal employees, who can gain as much as $10,000 per year by working to age 66. Because it’s the earliest age you can start taking Social Security, many people think of age…
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