Money

It’s never too early to start planning for the future. Initiate conversations with loved ones before it’s time to make decisions. Early financial planning and revisiting your financial plan is the best way to ensure your wishes will be carried out. ...

Congress passed major changes regarding distributions from 401k plans and IRAs effective in 2020. The changes do not apply to pension plans. Meet with your attorney for further explanation on how these may affect your estate planning. ...

There are certain questions regarding Social Security that keep coming up. Here are a few, along with the answers to help you take the next step in your decision-making. ...

There are certain questions regarding Social Security that keep coming up. Here are a few, along with the answers to help you take the next step in your decision-making. ...

Social Security understands that unexpected changes may occur after you begin receiving retirement benefits. If you change your mind, you may be able to withdraw your Social Security claim and reapply at a future date. ...

If you have an IRA and want your spouse to be its beneficiary, you have to specifically name your spouse as a beneficiary. If you have a 401(k) and want your spouse to be the beneficiary, you should still fill out a beneficiary designation form, naming your spouse. ...

As long as the beneficiary never receives cash directly from the trust, his eligibility for government benefits will not be compromised. The funds from the trust can be used for services and programs that government benefits don’t pay for but that enhance the loved one’s quality of life, such as transportation, classes, hobbies, and vacations. ...

While the house may not need to be sold in order to qualify for Medicaid, state Medicaid agencies will likely place a lien on any real estate owned by a Medicaid beneficiary during his or her life. The state cannot impose a lien if a spouse, a disabled or blind child, a child under age 21, or a sibling with an equity interest in the house is living in the house. ...