March 2011 Posts

  • Planning Tips for Clients with Chronic Illness

    Yesterday I attended a presentation by attorney Martin Shenkman, whose wife has multiple sclerosis – he regularly speaks on planning for those with chronic illness. He offered the use of his materials to the attendees, and this is one of his memos: ...
  • Missed Your IRA Rollver Deadline? All May Not be Lost

    The IRS is often accused of being heartless, but it does show some compassion to taxpayers who cannot complete an IRA rollover within the deadline because of extenuating circumstances. ...
  • Decision Time is Here if You Did a Roth IRA Conversion in 2010

    The rule that made higher-income folks ineligible for Roth IRA conversions expired at the end of 2009. That made 2010 a big year for conversions, because even billionaires could make the transactions. ...
  • Health Care Reform – How it Will Affect Our Taxes

    Health care reform doesn’t come cheap. How do we pay for it? More and increased taxes, of course, both this year and in future years, along with certain credits for health insurance premium costs. This is an outline of the many tax law changes as a result of the new health care laws, organized by affected parties and implementation date:...
  • 10 Estate Planning DONT’s

    From a presentation I gave last week for Duke University’s OLLI program’s course on retirement and wealth management, here are 10 things NOT to do in terms of estate planning:...
  • Long-Term Care Planning for Your Senior Life

    Many senior citizens freely admit that they fear growing older more than they fear death. The prospect of becoming increasingly frail and dependent in a society which worships strength and self-reliance, and of losing family and lifetime friends can understandably make the specter of old age a frightening one. ...
  • IRS Says Beware of Frivolous Tax Arguments

    WASHINGTON — The Internal Revenue Service today released the 2011 version of its discussion and rebuttal of many of the more common frivolous arguments made by individuals and groups that oppose compliance with federal tax laws....
  • Veterans Victory in the Supreme Court

    David Henderson was a Korean War veteran. He was discharged from active duty in 1952 due to paranoid schizophrenia. In 1992, the VA gave him a 100% disability rating, and in 2001 (while living in North Carolina) ...
  • Powers of Attorney “Die” Along With the Principal

    General ("financial") Durable Powers of Attorney (DPOAs) are very useful documents that every competent adult should have. DPOAs can be used to manage one’s property and affairs in the event of incompetency, avoiding the need for a court proceeding to determine incompetency and appoint a guardian. ...
  • Reverse Mortgages – the Impact on Older Homeowners

    From a recent AARP report: reverse mortgages offer older homeowners a way to tap home equity to meet financial needs in retirement. However, the collapse of the mortgage market in 2008–2009 has led to major changes that impact consumer choices. ...