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Medical Bankruptcy: Will it Still Be Necessary Under Health Reform?
(General/Blog)
... settlements with credit cards for less than what is owed and other debt relief may help make an improvement in financial position without the public filing of bankruptcy. There are income tax implications ...
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Medical Tourism: A Primer
(General/Blog)
... care, which many years ago, was only the privilege of the rich. Today, more middle income Americans are traveling to Mexico, Costa Rica, France, India, Thailand and many other countries now not to get ...
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Resolving Legal and Financial Issues in Elder Care
(General/Blog)
... and more o Financial: income, assets, dependents, benefits, insurance and more o Psychological: dysthymic disorders, depression, abuse and more o Social: culture, religion, divorce, family and more ...
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Retiring and Living Outside the USA
(General/Blog)
... retiring and moving to a State in the USA with lower costs of living (and possibly no state income taxes such as Tennessee, Nevada, Idaho, or Florida), living outside the USA can have lower costs overall. ...
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The Benefits of a Roth Conversion
(General/Blog)
Prior to 2010, only taxpayers with adjusted gross incomes below $100,000 were eligible to convert a traditional IRA to a Roth IRA. But as of January 1, 2010, the $100,000 adjusted gross income restriction ...
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Gearing Up for Life on the RV Road
(General/Blog)
... (RVIA). The typical RVer is 49 years old, married, with an annual household income of $68,000. RV owners are likely to own their homes and spend their disposable income on traveling – an average of 4,500 ...
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Should You Be a Borrower or Lender? The Return of the Personal Loan
(General/Blog)
... to structure the arrangement in a way that’s responsible and beneficial to both. If a relative is drawing income from the loan, special provisions should be made for prepayment and other contingencies. ...
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Joint Ownership of Life Insurance
(General/Blog)
... a policy to children to avoid the three-year rule results in a “transfer-for-value,” which subjects a portion of the death benefit to income taxation. Selling the policy to an ILIT structured as a “grantor ...
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Annuities & Estate Planning
(General/Blog)
... Second, the issues in designating a beneficiary for a nonqualified plan are very similar to those for a qualified retirement plan, since, in both cases, the income constitutes “income in respect of a ...
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The End of The Estate Tax (otherwise known as “Throw Granny from the Train”)
(General/Blog)
... basis for property inherited from a decedent who dies in 2010. Historically, federal income tax law has allowed taxpayers to "step up" the basis of inherited assets to the value of such assets on the date ...
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Retiree Benefits under the American Recovery and Reinvestment Act
(General/Blog)
... jobs, and unemployment has risen more than 2% since the date of enactment (Feb.17, 2009). The ARRA includes a stimulus payment and tax credit mechanism targeted at low-income and middle class taxpayers. ...
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Terms of Use
(General/Main)
... of illiquidity. High-yield bonds are subject to greater fluctuations in value and risk of loss of income and principal than government or high-quality corporate bonds. Smaller cap stocks entail additional ...
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Why Buy Long Term Care Insurance?
(General/Blog)
... are married and you have a need for long term care, your spouse may be forced to pay for an outside caregiver. The cost is likely to come from your combined income and assets. This may leave your spouse ...
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Using a Professional Care Manager
(General/Blog)
... remaining assets. The financial planner recommends a reverse mortgage specialist to help Mary and her husband tap unused assets in their home's equity. In addition, an income vehicle is put into place ...
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Absenteeism in the Workplace Caused by Eldercare Needs and Concerns
(General/ElderCare Articles)
... for training and promotions and possibly giving up a career when caregiving gets to be too much. What toll does this take in other areas of life? Loss of income from working fewer hours or leaving a job ...
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Are Gifts Taxable?
(General/ElderCare Articles)
Thinking about giving somebody some money? If so, you should consider the federal gift tax rules (as opposed to income tax rules) before you give. Generally the gift tax rules allow you to make a gift ...
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Assisted Living Facilities: When Home Isn't the Place to Be
(General/ElderCare Articles)
... insurance may reimburse certain costs of the facility. Some state and local governments offer subsidies for low income elders in ALFs. Depending on state regulations, your elder may be eligible for Supplemental ...
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Coping With A Chronic Illness in Your Family
(General/ElderCare Articles)
... your fears are (loss of income, loss of a dependable spouse, death of your loved one) you're less likely to express them inappropriately or take them out on others. You can also help jump-start communication ...
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Getting the Government to Pay Family Caregivers
(General/ElderCare Articles)
... care in lieu of maintaining employment. But the attitude of government is quickly changing and there is now a new initiative to provide income for family caregivers. The Deficit Reduction Act of 2005 ...
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Helping Your Elder Manage Financial Information
(General/ElderCare Articles)
... documents can be a very difficult process. To avoid such a circumstance, experts recommend that caregivers learn where to find personal documents, such as income tax returns, power of attorney, the will ...