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If you need to withdraw funds from an individual retirement account or 401(k) account before age 59 1/2, there’s usually a 10% early withdrawal penalty.
One often unrecognized fact regarding drug pricing is the difference in bargaining power depending on what agency or group is doing the bargaining.
Inflation hurts everyone. It seems to reach every sector, product and business in one way or another, whether it raises the cost of heating your home, lunches or road trips. However, if you’re a retiree, you may be particularly worried about inflation because your spending habits and income sources might be disproportionately exposed to inflation.
A special needs trust is a popular strategy for those who want to help someone in need without risking that the person will lose their eligibility for programs that require their income or assets to remain below a certain limit.
Retirement accounts fall into a category of assets that pass to heirs directly outside of the will and are not subject to probate. That is, if the paperwork is in order.
If you’re a caregiver, part of your job may be to keep track of your loved one’s legal affairs. You probably know — or are learning — that it’s a big responsibility.
The three main areas of focus for elder law attorneys include health care, estate and tax planning and guardianship matters.
Use these suggestions to boost the balance in your retirement nest egg.
A person named as a transfer on death (TOD) beneficiary for an account will receive the assets held in it when the account owner dies.
Providing for future generations shouldn’t be (overly) taxing. To manage taxes as you pass down your assets, look into UTMAs, 529s, child IRAs and trusts.
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