While the new tax law doubled the federal estate tax exemption, meaning the vast majority of estates will not have to pay any federal estate tax, it doesn’t mean you should ignore its impact on your estate plan. In December…
A long-term care policyholder has successfully sued her insurance company for breach of contract after the company raised her premiums. At age 56, Margery Newman bought a long-term care insurance policy from Metropolitan Life Insurance Company. She chose an option…
A Caregiver’s Guide to When a Family Member has Dementia Our Friends at Elderday Center in Batavia are a great resource for families with Dementia related issues. Enjoy these tips from the Elderday Center to make your holiday with a loved…
Senior citizens have become increasingly attractive scam targets for con artists because they have a “nest egg,” own their home, and tend to have excellent credit. In addition, people who grew up in the 1930’s, 1940’s, and 1950’s were generally…
Serious problems with the public guardianship system in the United States can lead to elder abuse, according to an in-depth article in The New Yorker titled “How the Elderly Lose their Rights.” Court-appointed guardians can take control of an elderly person’s finances and…
What happens if you are a high-income Medicare beneficiary who is paying a surcharge on your premiums and then your income changes? If your circumstances change, you can reverse those surcharges. Higher-income Medicare beneficiaries (individuals who earn more than $85,000)…
The Department of Housing and Urban Development (HUD) has announced changes to the federal reverse mortgage program. Citing the need to put the program on better financial footing, HUD will raise reverse mortgage fees for some borrowers and lower the amount…
Have you or a loved one been denied Medicare-covered services because you’re “not improving”? Many health care providers are still not aware that Medicare is required to cover skilled nursing and home care even if a patient is not…
Sometimes seniors find themselves owing past-due federal taxes they cannot afford to pay. Although notices from the IRS can be especially frightening, there are solutions. If the sum owed is less than $50,000, the…
In a move that could be confusing to seniors who are vulnerable to scams, the IRS will begin using private debt collection agencies to collect past-due taxes. The new program will begin in April 2017.…