Qualified Charitable Distributions

If you want to help others and would like to get a tax break along with it, a Qualified Charitable Distribution (QCD) may be exactly what you are looking for. Ordinarily, all deductible contributions to a traditional IRA, plus earnings, are subject to federal income tax when they are later distributed. However, if the IRA owner meets certain requirements (see below), he or she may be able to transfer funds directly from the IRA to a

Who Can You Trust These Days?

How many mailers and advertisements for hearing aids do you receive in one week? I just asked a patient this question. Her response? “Every week? How about every DAY? And I don’t trust any of them!” Expect to see many more hearing aid mailers, infomercials and magazine ads in the upcoming years as our population ages. How does a person know what to believe? How can a consumer wade through the hype? How does one

Senior Financial Fraud 101

If you are a senior, you are a target. Scammers and telemarketers want your money. And sometimes family members and caregivers want more than their fair share as well. The average financial cost for a victim of an elder abuse scam was $28,800, with the telephone being the most common way scammers contact you. According to Merriam-Webster, a scammer is “a dishonest person who uses clever means to cheat others out of something of value.”

Do you Qualify for VA Aid and Attendance?

All too often veterans are told they do not qualify for VA Aid and Attendance. The truth is you may be eligible for benefits to help pay for needed extended care if you meet “The 3 M’s of eligibility.”  These are: Military, Medical and Money. Military service. A veteran or a surviving spouse of a veteran must have 90 days of active duty, with one day during a period of war, and have been discharged

Using a Reverse Mortgage to Purchase a Home and Eliminate Debt

When people think about reverse mortgages they typically think about refinancing their existing home. There is a new philosophy emerging among baby boomers, and that is purchasing a home utilizing a reverse mortgage.  Reverse mortgages can be used purchases and often set seniors up for the best retirement scenario. Scenario:  A senior has a home worth 400,000 and has a mortgage for 250,000.  The house is more space than she needs.  The mortgage note, property