Monthly Archives: May 2016

Giving back: How to help your parents fund LTC and associated medical costs

If you have aging parents who aren’t as financially well off as you are, one of your estate planning goals may be to help fund their long-term care (LTC) and associated medical expenses. The annual cost of LTC — which … Continue reading

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Properly fund your living trust to shield assets from probate

Many people set up a revocable, or “living,” trust to shield assets from probate and take advantage of other benefits. For the trust to work, you must transfer assets to it that would otherwise go through probate — a process … Continue reading

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How summer day camp can save you taxes

Although the kids might still be in school for a few more weeks, summer day camp is rapidly approaching for many families. If yours is among them, did you know that sending your child to day camp might make you … Continue reading

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Is a charitable IRA rollover right for you?

If you’re charitably inclined, age 70½ or older and have a significant balance in an IRA, a charitable IRA rollover — formally called a “qualified charitable distribution” — permits you to annually make up to $100,000 in tax-free IRA distributions … Continue reading

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Putting your home on the market? Understand the tax consequences of a sale

As the school year draws to a close and the days lengthen, you may be one of the many homeowners who are getting ready to put their home on the market. After all, in many locales, summer is the best … Continue reading

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