The coronavirus pandemic is having a profound effect on the current U.S. economy, and it may have a detrimental effect on Social Security’s long-term financial situation. High unemployment rates mean Social Security shortfalls could begin earlier than projected. Social Security…
Medicare premiums are set to rise a modest amount next year, but still cut into any Social Security gains. The basic monthly premium will increase $3.90, from $144.60 a month to $148.50. The Centers for Medicare and Medicaid Services (CMS)…
Estate administration is the process of managing and distributing a person’s property (the “estate”) after death. If the person had a will, the will goes through probate, which is the process by which the deceased person’s property is passed to…
Although people are willing to voluntarily care for a parent or loved one without any promise of compensation, caregiver contracts (also called personal service or personal care agreement) for a family member can have many benefits. It rewards the family member doing…
Turning 18 and leaving home is an exciting time for young adults, filled with a host of new freedoms such as voting and independent living. However, it is also a time in life where many young adults still rely on…
You may have a vision for your retirement, but does your spouse share that vision? Have you done any retirement planning? Spouses often disagree about many key retirement details. It is important to work together to come up with a…
A controversial policy that reduces the benefits of military spouses is on the way out. The so-called “widow’s tax” cuts assistance to surviving military spouses who qualify for benefits under two different military benefit programs. The two programs are: The…
With the global pandemic responsible for more than a hundred thousand deaths and disrupting life across the United States, the only way for the country to return to normal is an effective coronavirus vaccine. When a vaccine is available, Medicare…
There are many unknowns when planning an estate, but you can’t let the uncertainties get in the way of creating any kind of plan. Having an imperfect plan is usually better than having no plan at all. When planning an…
Many types of property and investments pass outside of probate and allow you to designate who will receive them after your death. It is important that these designations are kept up to date and are consistent with the rest of…