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Money

January 2016
Ambord
Dollar Sense

A High-Paying, Fast Growing Industry Made for Veterans Young or Old, with Free Training

You may be near or past retirement age and just want something to do with your days, or a way to bring in a little extra money or both. In 2013 two thriving companies announced they were committed to putting veterans (and in some cases their spouses) to work.

Ambord
Dollar Sense

What You Should Know to Protect Your Money and Your Identity in Tax Season, Plus Why Do We Say ‘Pay Through the Nose?’

To protect taxpayers, the IRS reminds us how to spot a fake. Here are five things tax scammers  and fake IRS agents do, which the actual IRS will not do:

David
Legal Ease

Expense of Creating a Trust vs. Probate Fees – The Choice Could Be Costly

How large is your estate? If it is sizable, that will only cause the cost of probate to go up because the inventory/appraisal fees that are paid to the probate court are based on the value of your assets. Consequently, the more you have in value, the more you will pay in inventory/appraisal fees.

Telleen-Lawton
Financial Fortitude

Women’s Retirement – Bleak or Blessed Financially?

Career-wise, we're a sandwich generation, caught between childhood expectations of being unpaid homemakers and wives and today's reality of providing for ourselves. Whether by choice, divorce, or widowhood, we face the challenge of building a retirement nest for ourselves. And doing it now.

December 2015
Ambord
Dollar Sense

Helping the Grandkids Pay for College

Students are expected to contribute 20% of their own assets toward college. Parents, however, are only expected to give 5.6% of their assets. So if need-based aid is a factor, the grandchild would qualify for more financial assistance if the parents have the funds you provide.

Ambord
Dollar Sense

What’s New for Social Security in 2016? Not Much

High inflation means a stiff raise in Social Security benefits. But this year, inflation was ultra-low, and that means no raise for Social Security. For 2015, benefits rose only slightly, by 1.7%. 

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By law, Medicare Part B premiums cannot increase faster than Social Security benefits for most recipients, therefore, these premiums will not generally change. However, premiums will be higher for people who first sign up for Medicare Part B in 2016, and for certain high income Medicare beneficiaries.

David
Legal Ease

Lucky, But Still Illegal Use of Power of Attorney

When your father passed away, all that stock automatically become your mother’s without the necessity of probate because that stock was titled in both of their names. However, now that your mother has passed away, in order to get that stock out of her name and to her heirs or her named beneficiaries, that stock will need to be probated.

November 2015
Ambord
Dollar Sense

October Potpourri

Even if you take your first RMD on April 1, 2016, you’ll still need to take your second one by the end of the year 2016. You can avoid taking two payments in one tax year by making sure to take your first distribution before the end of 2015.

David
Legal Ease

His Kids, Her Kids – Who Will Inherit What? How to Avoid the Ugly Possibilities

Also, if the surviving spouse dies prior to making the distributions to the children, then those assets will be part of that spouse’s estate and will never be distributed to those children unless that spouse included them as beneficiaries of his or her estate.

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He or she could have a change of heart and change the dispositive provisions so that the deceased spouse’s children get nothing or get less than what was originally intended. This is a common occurrence when the surviving spouse remarries and diverts assets originally earmarked for the children of the deceased spouse to his or her new spouse.

Telleen-Lawton
Financial Fortitude

Up or Downsizing: Finally Buying a Home at Our Age?

What I can offer you are the advantages and disadvantages of home ownership, information about a special deal for first-time homebuyers, and perhaps some insight into how to evaluate these factors.

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