Financial Planning

Buried in the dusty archives of the IRS code is a military secret. The benefit for some military families can be substantial – the ability to deposit up to $500,000 into a Roth IRA, all at one time. In 2008 the Federal Government passed the Heart Act (Heroes Earnings Assistance and Relief Tax Act). It allows surviving spouses of military [...]

“Doctor, Doctor. This patient has been sick a long time and I don’t think he’s getting any better.” “Let me see that chart. Hmmm. You’re right, nurse. He’s declining at a faster rate than we expected.” That’s the conclusion of the latest Penn Wharton Budget Model, a non-partisan research initiative that provides economic analysis of the fiscal impact of public [...]

For decades, long-term care insurance has been one of the linchpins of retirement planning. It’s never been cheap. But the cost of LTC insurance is trending much higher with no apparent end in sight. The latest announcement comes from Genworth Financial Inc., the largest long-term care insurer by number of policyholders covered. Genworth president and CEO Thomas McInerney told the [...]

When Aretha Franklin died in August 2018 she left behind a legendary career and music that touched millions of people. She also left behind an $80 million estate and a nightmare for her four children. Aretha Franklin died without a will or trust. She had done no estate planning even though encouraged by her attorney for years. By law, her [...]

You’re sending your college student back into the bosom of academia. You run down the checklist to make sure nothing is forgotten:  clothes, phone, food, trip to the attorney. What? At 18, whether you think so or not, the government proclaims your child to be an adult and all the privacy laws kick in. Unless your child has signed [...]