July 2023

3107, 2023

Inherited Retirement Accounts: Minimizing Tax Consequences

The Setting Every Community Up for Retirement Enhancement (SECURE) Act, which went into effect in 2020, changed how beneficiaries of inherited retirement accounts must withdraw these funds. The Act’s passage made it more difficult for [...]

1707, 2023

What Is a Medicare Flex Card?

Some Medicare Advantage beneficiaries receive Medicare flex cards, pre-paid debit cards for qualifying expenses, as part of their benefits. The U.S. government does not issue Medicare flex cards. This benefit is only available on select [...]

1407, 2023

What Are the Drawbacks of Naming Beneficiaries?

Although in many situations the advantages outweigh the disadvantages when selecting beneficiaries, there are always exceptions. What Is a Beneficiary? Beneficiaries are individuals who you select to receive money, various other assets, or specific bequests (such [...]

1007, 2023

Lady Bird Deeds: A Different Kind of Life Estate

Life estates are ways for you to transfer property to another party while retaining the right to live there until you pass away, or some other event occurs. As the grantor of the life estate [...]

1007, 2023

What to Do If You Lose Your Medicaid Coverage

During the COVID-19 pandemic, states could not take away Medicaid coverage from any residents enrolled in this program. In recent months, however, this has been changing. If you are on Medicaid, be sure to take [...]

707, 2023

Do You Need a Spendthrift Trust?

The aging population is expected to transfer $30 trillion in the coming years, per Forbes. According to the Survey of Consumer Finances, the median inheritance is $69,000; the median for trust fund wealth transfers is $285,000. Many individuals [...]